 "Stock picks from Motilal Oswal Securities; buy Lupin, IGL, TCS")
Here are a few trading ideas from Sacchitanand Uttekar, Equity Technical Analyst of Motilal Oswal Securities:
Nifty Outlook
Last week Nifty saw a good rebound from the lower end of the oscillation range. With no sign of any meaningful weakness the expectation of a continued up move remains firm. Considering the expiry week it could remain oscillating within the range. A sustained breach above 8780 could unfold fresh momentum & could extend the up move towards 8900; hence long positions shall be maintained with a trail stop strategy below 8620.
LUPIN
Reco: BUY
Last Close: 1528
Target : 1640
Lupin saw a smart correction post the strong upmove from 1395 till 1750. The occurrence of a 'Bullish Harami' pattern augurs well for the support to remain intact. Pullback if any during the week should be utilized to add longs as the setup provides a good reward to risk opportunity with a stop below 1460 & an initial target up to 1600 followed by 1640 could be expected.
IGL
Reco: BUY
Last Close: 864
Target : 920
Positive sector outlook & breakout from the continuation pattern augurs well for the secular uptrend to remain intact. IGL could be accumulated with a trading stop below 840 & an initial target upto 920.
TCS
Reco: BUY
Last Close: 2428
Target : 2570
'Bullish Engulfing’ reconfirmed the support near 2300 & supports the Double Bottom formation. A breach above 2450 could amplify the momentum & hence longs could be added with a stop at 2320 for a positional target upto 2570.
Disclaimer: Motilal Oswal Securities ( MOSL ) is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities. MOSL is in the process of getting registered under SEBI - Research Analyst Regulations. MOSL, the spokesperson or his relatives, do not have financial interest in the securities mentioned above. The spokesperson has not served as a director, employee or officer at the subject company in the last 12 months. MOSL or its associate might be involved in market making for the subject company or have potential conflict of interest.
Sacchitanand Uttekar is an Equity Technical Analyst at Motilal Oswal Securities
Nifty Outlook
Last week Nifty saw a good rebound from the lower end of the oscillation range. With no sign of any meaningful weakness the expectation of a continued up move remains firm. Considering the expiry week it could remain oscillating within the range. A sustained breach above 8780 could unfold fresh momentum & could extend the up move towards 8900; hence long positions shall be maintained with a trail stop strategy below 8620.
Also Read
Reco: BUY
Last Close: 1528
Target : 1640
Lupin saw a smart correction post the strong upmove from 1395 till 1750. The occurrence of a 'Bullish Harami' pattern augurs well for the support to remain intact. Pullback if any during the week should be utilized to add longs as the setup provides a good reward to risk opportunity with a stop below 1460 & an initial target up to 1600 followed by 1640 could be expected.
IGL
Reco: BUY
Last Close: 864
Target : 920
Positive sector outlook & breakout from the continuation pattern augurs well for the secular uptrend to remain intact. IGL could be accumulated with a trading stop below 840 & an initial target upto 920.
TCS
Reco: BUY
Last Close: 2428
Target : 2570
'Bullish Engulfing’ reconfirmed the support near 2300 & supports the Double Bottom formation. A breach above 2450 could amplify the momentum & hence longs could be added with a stop at 2320 for a positional target upto 2570.
Disclaimer: Motilal Oswal Securities ( MOSL ) is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities. MOSL is in the process of getting registered under SEBI - Research Analyst Regulations. MOSL, the spokesperson or his relatives, do not have financial interest in the securities mentioned above. The spokesperson has not served as a director, employee or officer at the subject company in the last 12 months. MOSL or its associate might be involved in market making for the subject company or have potential conflict of interest.
Sacchitanand Uttekar is an Equity Technical Analyst at Motilal Oswal Securities