 "Stock picks for today's session by Motilal Oswal Securities")
Here are a few trading ideas by Sacchitanand Uttekar, Equity Technical Analyst & PFA at Motilal Oswal Securities:
Nifty Outlook
Nifty has retraced its previous declining move within a faster time & confirms the impulse wave characteristics. It also closed the session above its 200 DEMA of 8260. The ongoing momentum is expected to extend towards 8350 & longs could be maintained with a stop below 8145.
ARVIND
Reco: BUY
Last Close: 365.50
Target : 390
Arvind saw a breakout from a triangular consolidation with volumes. The pattern indicates the up move to extend towards 390. Hence trading longs could be considered with a stop below 354.
HERO MOTO CORP
Reco: BUY
Last Close: 3071.75
Target : 3180
Occurrence of ‘Bullish Hammer’ on the weekly scale at the retracement support. The recent rebound post the pattern confirms the reversal & provides a good reward to risk opportunity for trading longs. Long positions could be added with a stop below 3020 for an initial target up to 3180.
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.
Nifty Outlook
Nifty has retraced its previous declining move within a faster time & confirms the impulse wave characteristics. It also closed the session above its 200 DEMA of 8260. The ongoing momentum is expected to extend towards 8350 & longs could be maintained with a stop below 8145.
Also Read
Reco: BUY
Last Close: 365.50
Target : 390
Arvind saw a breakout from a triangular consolidation with volumes. The pattern indicates the up move to extend towards 390. Hence trading longs could be considered with a stop below 354.
HERO MOTO CORP
Reco: BUY
Last Close: 3071.75
Target : 3180
Occurrence of ‘Bullish Hammer’ on the weekly scale at the retracement support. The recent rebound post the pattern confirms the reversal & provides a good reward to risk opportunity for trading longs. Long positions could be added with a stop below 3020 for an initial target up to 3180.
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.
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