 "Osho Krishan of Angel One suggests buying KEC, Tata Motors on January 20")
Stock Recommendations: NSE Scrip: KEC International View: Bullish
Last Close: Rs 1,223.80
KEC has been into a secular uptrend, hovering well above all its significant EMAs on the daily time frame chart structure. Also, with the recent consolidation, the counter seems to be on the verge of a sloping trendline breakout, indicating a further potential uptrend in the near period. On the technical front, MACD and other oscillators hover in a comfortable zone, adding an inherent bullish stance in the counter.
Hence, we recommend to 'Buy' KEC International around Rs 1,210 | Stop loss: Rs 1,145 | Target: Rs 1,320-1,340
NSE Scrip: Tata Motors View: Bullish
Last Close: Rs 790.40
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Tata Motors has witnessed a steep correction of nearly 40 percent from its peak of 1179 in the past five months and has plummeted to oversold terrain. However, in the last couple of trading sessions, the counter has gained some of its lost grounds, suggesting an initial sign of reversal. Technically, the counter has surged above the 20 DEMA after a long haul, which implies the initial positive development in the counter. From a risk-reward point of view, the counter is placed at a lucrative zone and is most likely to continue its upward move in the near future.
Hence, we recommend to 'Buy' Tata Motors around Rs 780 | Stop loss: Rs 735 | Taregt: Rs 850-870
(Disclaimer: Osho Krishan is a senior analyst of technical & derivatives at Angel One Ltd. Views expressed are his own.)