Buy L&T, Havells India says Shubham Agarwal of MOSL

Here are a few stocks recommended from Motilal Oswal Securities

Nifty Outlook

While the ‘Bearish Engulfing’ on weekly scale keeps the outlook on the index bearish with room open all the way up to 7,400. The momentum indicators have approached the lower end. This development could pause the fall for a while, pushing the index towards Rs 7,870-7,900

L&T: BUY
Stop Loss: Rs 1,331
Target: Rs 1,410

 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.

Havells India: BUY
Stop Loss: Rs 254
Target: Rs 269

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.

 

PFC: SELL
Stop Loss: Rs 225
Target: Rs 224

 It has closed at Rs 221.15,  at a five weeks low. The RSI on the daily chart has turned below Rs 40. 

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