Friday, February 21, 2025 | 04:25 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Bajaj Finance, TaMo, Maruti: Largecap buy, sell stock ideas post Q3 results

Here's a technical outlook on 5 largecap stocks post Q3 results. Charts hint towards a positive bias for Bajaj Finance and Bajaj Auto; whereas a likely fall for Maruti, Tata Motors and Dr. Reddy's.

Buy, Sell, markets, stocks, shares, investments, mutual funds, investors

Rex Cano Mumbai

Listen to This Article

The December quarter earnings have been a mixed bag for India Inc, with stocks witnessing sharp reactions to respective Q3 results.  In Thursday's trading session, Bajaj Finance stock surged over 6 per cent to hit a fresh all-time high at Rs 8,250 after the firm reported 18 per cent growth in Q3 net profit at Rs 4,308 crore. A similar reaction was witnessed by the Bajaj Auto stock a day after its Q3 results. On the other hand, Tata Motors and Dr. Reddy's share price witnessed a sharp fall post the Q3 numbers.  Here's a technical outlook on 5 large-cap stocks post Q3 results.  Bajaj Finance  Current Price: Rs 7,975  Upside Potential: 4.6%  Support: Rs 7,900; Rs 7,780  Resistance: Rs 8,250  Bajaj Finance stock had given a fresh upside breakout on the daily chart on Wednesday. The stock is expected to trade with a bullish bias as long as it holds above Rs 7,900. A weekly close above Rs 7,780, shall qualify as a weekly upside breakout for the stock. CLICK HERE FOR THE CHART  The long-term chart shows that the stock was trading in a broad range of Rs 5,500 - Rs 7,800 for the last four years. The present breakout can lead to further gains on the stock. Going ahead, on the upside, the stock can surge to Rs 8,345 levels, with today's high at Rs 8,250 is likely to act as an intermediate hurdle.  ALSO READ: Sensex, Nifty PE dips below 10-year average. Time ripe for cherry-picking?  Bajaj Auto  Current Price: Rs 8,780  Upside Potential: 10.1%  Support: Rs 8,613  Resistance: Rs 8,950; Rs 9,100  Following the near 5 per cent rally in the last two trading sessions, Bajaj Auto stock is now seen testing resistance around its super trend line on the daily scale at Rs 8,806. The stock needs to break and trade consistently above this for further gains. CLICK HERE FOR THE CHART  The long-term chart suggests limited upside for the stock around Rs 9,670, as the stock has been trading below key moving averages on the daily and weekly scale. Interim resistance for the stock are placed at Rs 8,950 and Rs 9,100. On the downside, near support for the stock exists at Rs 8,613.  Maruti Suzuki  Current Price: Rs 12,000  Downside Risk: 11.7%  Support: Rs 11,740; Rs 11,400  Resistance: Rs 12,500  Maruti Suzuki stock is seen consolidating above its 200-DMA (Daily Moving Average) since mid-January. However, the key momentum oscillators on the daily scale seem to be showing some signs of weakening. As such, the stock may witness some downward pressure in the near-term. The weekly chart also shows presence of stiff resistance for the stock at Rs 12,500. CLICK HERE FOR THE CHART  On the downside, the stock can slide back to near Rs 10,600 levels, with near support for the stock seen at Rs 11,740 and Rs 11,400 levels.  ALSO READ:  This MNC FMCG stock trades at 7-year support; can fall up to 22%  Tata Motors  Current Price: Rs 704  Downside Risk: 14.8%  Support: Rs 660  Resistance: Rs 711; Rs 726; Rs 780  Tata Motors seem to be precariously poised with the stock trading just below the lower-end of the Bollinger Bands on the daily chart. The near-term bias is likely to remain weak as long as the stock trades below Rs 711. That apart, a monthly close below Rs 726 will shall imply a downward breakout of its 4-year bull-run. CLICK HERE FOR THE CHART  On the downside, the stock can extend the fall and slide to Rs 600 levels; with interim support expected around Rs 660. On the upside, key hurdle for the stock stands at Rs 780.  ALSO READ: Nifty fall since October 2nd biggest in 10 years; 16 stocks tank over 20%  Dr Reddy's Laboratories  Current Price: Rs 1,200  Downside Risk: 16.7%  Support: Rs 1,155; Rs 1,040  Resistance: Rs 1,230; Rs 1,280  Dr. Reddy's Labs had tanked over 16 per cent to a low of Rs 1,165 in January thus far. Today, the stock seems to have bounced back partly from oversold levels. On the chart, the stock was seen seeking support around its 100-WMA (Weekly Moving Average), which stands at Rs 1,155. CLICK HERE FOR THE CHART  The overall bias for the stock seems tepid, as the key momentum oscillators on the long-term chart are in favour of the bears. On its way up, the stock is expected to face resistance at Rs 1,230 above which the key hurdle stands at Rs 1,280.  On the downside, the stock is likely to test the Rs 1,000-mark, as and when it breaks below the 100-WMA. Interim support for the stock is placed at Rs 1,040. 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 30 2025 | 11:17 AM IST

Explore News