SRF, BPCL among top picks by Chandan Taparia of MOFSL for July 31

BUY SRF | CMP: Rs 2,552 | Stop Loss: Rs 2,480 | Target: Rs 2,700

SRF has given trend line breakout on daily chart and holding well above the same.  Momentum indicator RSI is positively placed which help the stock to continue upside momentum. Buying is visible across Chemical space which may support the ongoing up move.

BUY BPCL | CMP: Rs 348 | Stop Loss: Rs 335 | Target: Rs 370

BPCL has given Pole and Flag breakout on weekly scale and forming Higher top – Higher bottom structure from last 6 trading session which clearly indicates positive momentum will continue. Buying is visible across OMC’s space which has bullish implications.  

BUY Dixon | CMP: Rs 11,977 | Stop Loss: Rs 11,620 | Target: Rs 12,700

Dixon has given narrow range breakout on daily chart and holding well above its short term moving averages. Higher high – higher low sequence is intact on daily chart which shows uptrend will continue further.

(Chandan Taparia is a senior vice president of equity derivatives & technicals, broking & distribution at Motilal Oswal Financial Services Ltd. Views expressed are his own.)