KEC, Tata Motors: Osho Krishan of Angel One picks 2 stocks to buy today

Stocks to Buy Today for Upside, Jan 6, 2025: TATAMOTORS has witnessed a steep correction of nearly 40 per cent from its peak of Rs 1,179 in the past five months and has plummeted to oversold terrain

Stocks to Buy Today, Monday, Jan 6:

  NSE Scrip – KEC

View - Bullish

Last Close – Rs 1,223.80

 

KEC has been into a secular uptrend, hovering well above all its significant EMAs on the daily time frame chart structure. Also, with the recent consolidation, the counter seems to be on the verge of a sloping trendline breakout, indicating a further potential uptrend in the near period. On the technical front, MACD and other oscillators hover in a comfortable zone, adding an inherent bullish stance in the counter.

 

Hence, we recommend to BUY KEC around Rs 1,210 | SL: Rs 1,145 | TGT: Rs 1,320-1,340

 

 

NSE Scrip – TATAMOTORS

View - Bullish

Last Close – Rs 790.40

 

TATAMOTORS has witnessed a steep correction of nearly 40 per cent from its peak of Rs 1,179 in the past five months and has plummeted to oversold terrain. However, in the last couple of trading sessions, the counter has gained some of its lost grounds, suggesting an initial sign of reversal. Technically, the counter has surged above the 20-DEMA after a long haul, which implies the initial positive development in the counter. From a risk-reward point of view, the counter is placed at a lucrative zone and is most likely to continue its upward move in the near future.

 

Hence, we recommend to BUY TATAMOTORS around Rs 780 | SL: Rs 735 | TGT: Rs 850-870

 

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Disclaimer: Osho Krishan is a senior analyst of technical and derivatives at Angel One Ltd. Views expressed are his own.