 "Top trading calls from Motilal Oswal: Buy L&T, Havells India; Sell PFC")
Nifty Outlook
While the ‘Bearish Engulfing’ on weekly scale keeps the outlook on the index bearish with room open all the way up to 7400. The momentum indicators have approached the lower end. This development could pause the fall for a while, pushing the index towards 7870-7900
Target: Rs 1,410
Stop Loss: Rs 1,331
After a low below the low of the last 5 days, it has closed at Rs. 1357.15, above the opening of the previous week, making a bullish bar reversal on the weekly scale. BUY with a target of Rs. 1410 with a Stop Loss of Rs. 1331 .
Havells India: BUY
Target: Rs 269
Stop Loss: Rs 254
After a sharp rise from Rs 235 to Rs 262, it has consolidated above the 50 days SMA and closed at Rs. 258.15 with a rising RSI on the daily scale. BUY for a target of Rs 269 with a Stop Loss of Rs 254.
PFC : SELL
Target: Rs 224
Stop Loss: Rs 225
It has closed at Rs 221.15, at a five weeks low. The RSI on the daily chart has turned below 40. SELL for a target of 224 with a Stop Loss of Rs 225.
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
While the ‘Bearish Engulfing’ on weekly scale keeps the outlook on the index bearish with room open all the way up to 7400. The momentum indicators have approached the lower end. This development could pause the fall for a while, pushing the index towards 7870-7900
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L & T : BUY
Target: Rs 1,410
Stop Loss: Rs 1,331
After a low below the low of the last 5 days, it has closed at Rs. 1357.15, above the opening of the previous week, making a bullish bar reversal on the weekly scale. BUY with a target of Rs. 1410 with a Stop Loss of Rs. 1331 .
Havells India: BUY
Target: Rs 269
Stop Loss: Rs 254
After a sharp rise from Rs 235 to Rs 262, it has consolidated above the 50 days SMA and closed at Rs. 258.15 with a rising RSI on the daily scale. BUY for a target of Rs 269 with a Stop Loss of Rs 254.
PFC : SELL
Target: Rs 224
Stop Loss: Rs 225
It has closed at Rs 221.15, at a five weeks low. The RSI on the daily chart has turned below 40. SELL for a target of 224 with a Stop Loss of Rs 225.
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