Stock picks from Motilal Oswal Securities; buy Divi's Lab, Sun TV, TCS

Here are a few trading ideas from Motilal Oswal Securities

Here are a few trading ideas from Sacchitanand Uttekar, Equity Technical Analyst of Motilal Oswal Securities:

Nifty Outlook

Nifty saw a good recovery on the final session of the October series. The occurrence of a ‘Bullish Hammer’ at the retracement support raises the expectation of a move beyond the channel pattern. A breach above 8730 from hereon could amplify the momentum. Hence longs could be initiated with a stop below 8540.

DIVISLAB

Reco: BUY

Last Close: 1276

Target : 1340

Positive sector outlook & 'Bullish Harami' on the weekly scale augurs well for the secular uptrend to remain intact. The setup provides a good reward to risk opportunity to add longs. Divislab could be traded with a stop below 1240 for an initial target up to 1340.

SUN TV

Reco: BUY

Last Close: 535

Target : 590

‘Rising Three’ formation on the weekly scale augurs well for the uptrend to continue. Declines if any could be utilized to add longs with a stop below 510 for an initial trading target upto 575 followed by 590.

TCS

Reco:  BUY

Last Close: 2418

Target : 2570

'Bullish Engulfing’ reconfirmed the support near 2300 & supports the Double Bottom formation. A breach above 2450 could amplify the momentum & hence longs could be added with a stop at 2320 for a positional target upto 2570.

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.

Sacchitanand Uttekar is an Equity Technical Analyst at Motilal Oswal Securities