Buy TVS Motors, Arvind, says Chandan Taparia of MOSL

Here are a few trading ideas by Chandan Taparia, Derivatives and Technical Analyst & PFA at MOSL:

 

Outlook:

Nifty managed to hold 8,720 and witnessed a recovery towards 8,783 levels. It formed a Bullish Harami pattern on daily chart as it traded inside the trading range of previous session. However it has multiple hurdles near to 8,820 and above that only bulls will get comfort in the market to extend this move towards 8,888 and 8,968. Overall index has been consolidating in between 8,720 to 8,820 zones and requires a decisive range breakout to start the fresh leg of rally.

 

Stocks:

TVS MOTORS

Reco: BUY

Last Close: 422

Stop Loss: 410

Target: 444

 

Stock recorded a fresh life time highs along with positive sector outlook. Major trend is positive and recent momentum could extend its move towards 444 levels.

 

ARVIND

Reco: BUY

Last Close: 376

Stop Loss: 366

Target: 396

 

It has rebounded from its multiple support of 366 and witnessed a smart recovery. Stock has seen buying interest at every small decline and also trading above its 50 DMA raising expectation for a bullish momentum to pick up.

 

JUST DIAL

Reco: BUY

Last Close: 438

Stop Loss: 423

Target: 475

 

It has made bottom on monthly chart and moving upwards from last four weeks. It has surpassed its immediate supply trend line and overall price structure suggests a better risk to reward ratio. Thus recommending to buy on declines with strict trading stop loss of 423 levels.

 

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.

 

Chandan Taparia is an Deivatives and Technical Analyst at Motilal Oswal Securities.