 "Nifty outlook and top stock picks by Motilal Oswal Securities")
Nifty outlook and top stock picks by Chandan Taparia, Derivatives & Technical Analyst, MOSL:
Outlook:
Nifty index opened gap up, tested the support of 10141 zones and recovered towards 10200 zones. However it got stuck in a range in second half of the trading session ahead of expiry and formed a Doji candle on the daily scale which implies indecisiveness in the market. Now it has to hold above 10141 to extend its bounce towards 10276 then 10333 zones while on the downside supports are seen at 10080 and 10050 zones.
Stocks:
ASIAN PAINTS
Reco: BUY
Outlook:
Nifty index opened gap up, tested the support of 10141 zones and recovered towards 10200 zones. However it got stuck in a range in second half of the trading session ahead of expiry and formed a Doji candle on the daily scale which implies indecisiveness in the market. Now it has to hold above 10141 to extend its bounce towards 10276 then 10333 zones while on the downside supports are seen at 10080 and 10050 zones.
Also Read
ASIAN PAINTS
Reco: BUY
Last Close: Rs 1,131
Stop Loss: Rs 1,111
Target: Rs 1,166
Taken support at the lower band of the trading zones and respecting to its horizontal support trend line.
BAJAJ FINANCE
Reco: BUY
Last Close: Rs 1,772
Stop Loss: Rs 1,730
Target: Rs 1,850
Surpassed its falling supply trend line and has been making higher top – higher bottom on lower degree chart
SRTRANSFIN
Reco: BUY
Last Close: Rs 1,453
Stop Loss: Rs 1,420
Target: Rs 1,515
Taken support at its rising support trend line, formed a Bullish Belt Hold candle
Stop Loss: Rs 1,111
Target: Rs 1,166
Taken support at the lower band of the trading zones and respecting to its horizontal support trend line.
BAJAJ FINANCE
Reco: BUY
Last Close: Rs 1,772
Stop Loss: Rs 1,730
Target: Rs 1,850
Surpassed its falling supply trend line and has been making higher top – higher bottom on lower degree chart
SRTRANSFIN
Reco: BUY
Last Close: Rs 1,453
Stop Loss: Rs 1,420
Target: Rs 1,515
Taken support at its rising support trend line, formed a Bullish Belt Hold candle
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