Motilal Oswal recommends buy on IndusInd Bank, KPIT Technologies, Emami
Here are a few trading strategies from Sacchitanand Uttekar, Equity Technical Analyst & PFA at Motilal Oswal Securities
 "Motilal Oswal recommends buy on IndusInd Bank, KPIT Technologies, Emami")
Nifty Outlook
Nifty displayed a strong resilience during the week as it maintained its tail above 8600. The index is likely to breach from the ongoing contracting range in the coming sessions. A decisive close above 8750 from hereon would amplify the bullish momentum, therefore further positions could be added with a stop below 8560.
INDUSIND BANK: BUY
Target : Rs 1255
Stop Loss: Rs 1168
Mature continuation pattern on the daily scale augurs well for the secular uptrend to continue. Trading longs could be added with a stop below Rs 1168 for a pattern target up to Rs 1255.
KPIT TECHNOLOGIES: BUY
Target : Rs 155
Stop Loss: Rs 123
Breakout from a Falling Wedge formation on the daily scale coupled with a positive divergence on the RSI. The stock seems ready for a strong bounce back which could traded with a stop below Rs 123 & an initial target up to Rs 155.
EMAMI: BUY
Target : Rs 1360
Stop Loss: Rs 1110
Breakout from the continuation pattern on the weekly scale augurs well for the sequential trend to continue. Declines if any within the ongoing uptrend will provide a good opportunity to add longs. We expect the stock to continue its steady up move till Rs 1360 & hence the stock could be accumulated with a stop below Rs 1110.
Nifty displayed a strong resilience during the week as it maintained its tail above 8600. The index is likely to breach from the ongoing contracting range in the coming sessions. A decisive close above 8750 from hereon would amplify the bullish momentum, therefore further positions could be added with a stop below 8560.
INDUSIND BANK: BUY
Target : Rs 1255
Stop Loss: Rs 1168
Mature continuation pattern on the daily scale augurs well for the secular uptrend to continue. Trading longs could be added with a stop below Rs 1168 for a pattern target up to Rs 1255.
KPIT TECHNOLOGIES: BUY
Target : Rs 155
Stop Loss: Rs 123
Breakout from a Falling Wedge formation on the daily scale coupled with a positive divergence on the RSI. The stock seems ready for a strong bounce back which could traded with a stop below Rs 123 & an initial target up to Rs 155.
EMAMI: BUY
Target : Rs 1360
Stop Loss: Rs 1110
Breakout from the continuation pattern on the weekly scale augurs well for the sequential trend to continue. Declines if any within the ongoing uptrend will provide a good opportunity to add longs. We expect the stock to continue its steady up move till Rs 1360 & hence the stock could be accumulated with a stop below Rs 1110.
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Sacchitanand Uttekar is an Equity Technical Analyst at Motilal Oswal Securities