Top trading calls from Motilal Oswal: Arvind, HPCL, BHEL

Here are a few stocks recommended from Motilal Oswal Securities

Nifty Outlook

Nifty is tied within the immediate band of Rs 7,800 to 8,000, awaiting an impulse move which will trigger fresh momentum. The reversion of momentum indicator form its oversold zone augurs well for the ongoing pullback.

ARVIND:: BUY

Last Close: Rs 304

Target : Rs 325
Stop Loss: Rs 292

The recent breakout from the consolidation & the occurrence of a 'Rising Three' pattern on the daily scale augurs well for the uptrend to continue. We expect Arvind to revisit its medium term swing high. The current set up provides a good reward to risk opportunity for short term longs with a stop at Rs 292 & a target upto Rs 325.
 

HPCL:  BUY

Last Close: Rs 804

Target : Rs 990
Stop Loss: Rs 750

'Bullish Hammer' confirms the long term support & the secular uptrend to stay intact. We expect the OMC basket to continue its relative outperformance. HPCL could be accumulated with a stop at Rs 750 for an initial target upto Rs 990.

BHEL: SELL

Last Close: 173

Target : 160

Stop Loss: Rs 180 
 

Fresh breakdown from a continuation pattern indicates weakness to continue. BHEL could be traded with a stop above Rs 180 for an initial target upto Rs 160.

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.

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