 "Top stock picks for Tuesday's session from MOSL")
Here are a few trading ideas by Sacchitanand Uttekar, Equity Technical Analyst & PFA at Motilal Oswal Securities:
Nifty Outlook
Nifty commenced the week on a pessimistic note as it fell again below its 200 DSMA. Proximity towards gap area of 8151 raises expectation of likely consolidation within the range of 8,150-8,280 for a while. Therefore a sustained breach outside the range could unfold directional momentum.
POWERGRID
Reco: BUY
Last Close: 184.75
Target: 213
Positive sector outlook & breakout from the continuation pattern augurs well for the secular up move to continue. Trading longs could be added with a stop at 171& sequential targets of 213 /235.
TECH MAHINDRA
Reco: BUY
Last Close: 469.40
Target: 520
Positive sector outlook & occurrence of “Bullish Harami” raises the expectation of pull-back. One can accumulate the stock with a stop at 453 and a target of 520.
BHEL
Reco: SELL
Last Close: 127.50
Target: 121.5
Mature continuation pattern indicates weakness to persist; breach below its 200 DSMA could amplify momentum. Traders can initiate short in future with a stop of 130.50 and a target of 121.50.
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.
