 "Technical picks from Motilal Oswal: Buy BPCL, Dish TV, Dr Reddys Labs")
Nifty continued its run up & breached from its immediate consolidation range of 8250-8100. Follow up momentum above 8300 would accelerate the up move with the only important resistance being 8450. Hence participating in the up move with a trail stop at 8065 would be prudent.
BPCL: BUY
Stop Loss: Rs 848
Re-confirmation by multiple bullish patterns reassures the support & the secular uptrend to stay intact. BPCL could be accumulated with a stop at Rs 848 with an expectation of the extension move up to Rs 1055.
DISH TV: BUY
Target : Rs 118
Stop Loss: Rs 102
Post the pullback the occurrence of the 'Bullish Engulfing 'augurs well for the revival of the uptrend. The setup provides a good reward to risk opportunity even for short term traders. Dish TV could be participated with a stop below Rs 102 for an initial target up to Rs 118.
DR REDDY: BUY
Target : Rs 4640
Stop Loss: Rs 4,205
Positive sector outlook & fresh life high indicates the secular uptrend to remain intact. We expect the up move to extend up to Rs 4640 which could be participated with a trading stop below Rs 4205.
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.
Shubham Agarwal is a head of Quantitative Research, Motilal Oswal Securities
BPCL: BUY
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Target : Rs 1055
Stop Loss: Rs 848
Re-confirmation by multiple bullish patterns reassures the support & the secular uptrend to stay intact. BPCL could be accumulated with a stop at Rs 848 with an expectation of the extension move up to Rs 1055.
DISH TV: BUY
Target : Rs 118
Stop Loss: Rs 102
Post the pullback the occurrence of the 'Bullish Engulfing 'augurs well for the revival of the uptrend. The setup provides a good reward to risk opportunity even for short term traders. Dish TV could be participated with a stop below Rs 102 for an initial target up to Rs 118.
DR REDDY: BUY
Target : Rs 4640
Stop Loss: Rs 4,205
Positive sector outlook & fresh life high indicates the secular uptrend to remain intact. We expect the up move to extend up to Rs 4640 which could be participated with a trading stop below Rs 4205.
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.
Shubham Agarwal is a head of Quantitative Research, Motilal Oswal Securities