 "Stock picks from Motilal Oswal Securities")
Nifty Outlook
Nifty remains consolidative with immediate support at 7000 and resistance around 7250. The momentum indicator has retested the negative extreme hence raises the odds with a medium term perspective in favor of bulls. However, the price action will confirm the same only on a move above 7250.
AXIS BANK
Reco: BUY
Target : Rs 440
‘Bullish Harami’ post the ‘Hammer’ candlestick pattern reconfirmed the strength in the medium term support. Its proximity towards the medium term support provides a good reward to risk opportunity to create portfolio longs. Traders could also participate with a stop loss at Rs 370 & an initial target upto Rs 440.
PIDILITE IND.
Reco: BUY
Last Close: Rs 638
Target : Rs 710
Pidilite Inds. saw a breakout from the yearlong consolidation & the follow through move has been attracting momentum. We expect the momentum to amplify & hence the ongoing momentum could still be participated with a stop below Rs 605 & a target upto Rs 710.
ALLAHABAD BANK
Reco: SELL
Last Close: Rs 45
Target : Rs 32
Allahabad bank has been trending down & the mature continuation pattern indicates the weakness to persist. Allahabad bank could be sold short with a stop at Rs 49.50 & a pattern target upto Rs 32.
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
Nifty remains consolidative with immediate support at 7000 and resistance around 7250. The momentum indicator has retested the negative extreme hence raises the odds with a medium term perspective in favor of bulls. However, the price action will confirm the same only on a move above 7250.
AXIS BANK
Reco: BUY
Also Read
Last Close: Rs 398
Target : Rs 440
‘Bullish Harami’ post the ‘Hammer’ candlestick pattern reconfirmed the strength in the medium term support. Its proximity towards the medium term support provides a good reward to risk opportunity to create portfolio longs. Traders could also participate with a stop loss at Rs 370 & an initial target upto Rs 440.
PIDILITE IND.
Reco: BUY
Last Close: Rs 638
Target : Rs 710
Pidilite Inds. saw a breakout from the yearlong consolidation & the follow through move has been attracting momentum. We expect the momentum to amplify & hence the ongoing momentum could still be participated with a stop below Rs 605 & a target upto Rs 710.
ALLAHABAD BANK
Reco: SELL
Last Close: Rs 45
Target : Rs 32
Allahabad bank has been trending down & the mature continuation pattern indicates the weakness to persist. Allahabad bank could be sold short with a stop at Rs 49.50 & a pattern target upto Rs 32.
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
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%