Stock picks from Motilal Oswal Securities

Here are a few stock picks from Shubham Agarwal of Motilal Oswal Securities

Nifty Outlook

Nifty saw a rebound from the immediate support at 7350 & a ‘Spinning Top’ on the daily augurs well with the ongoing volatility. A breach above 7480 (Spinning Top High) would resume the positive momentum & push the Nifty towards 7600.
 
AXIS BANK
Reco: BUY

Last Close: Rs 386
Target : Rs 460

'Bullish Engulfing' pattern re-confirmed the medium term support near 360 & the occurrence of a’ Bullish Hammer’ on the daily scale reassures this support to remain intact. Proximity towards the medium term support provide a good opportunity to create portfolio longs. Axis Bank could also be traded with a stop below Rs 360.

 
ACC
Reco: BUY
Last Close: Rs 1,270
Target : Rs 1,320
 
‘Double Bottom’ on the medium term scale re-confirmed the support at 1200. Post that the stock has witnessed a consistent uptrend. We expect this bullish trend to extend upto Rs 1320 which could be participated with a stop at Rs 1,250.
 
PIDILITE INDS.
Reco: BUY
Last Close: Rs 582
Target : Rs 630

Mature consolidation with rising volume towards the end; indicates directional move in the offing. Pidilite Ind. is at a verge of a fresh breakout & the expected momentum could be participated with a stop at Rs 558.

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.Motilal Oswal Securities Limited is registered under SEBI (Research Analysts) Regulation 2014 SEBI Registration No :-INH000000412. MOSL or its associate might be involved in market making for the subject company or have potential conflict of interest.

Shubham Agarwal is a head of Quantitative Research, Motilal Oswal Securities