Tata Motors, SRF, and Bajaj Finance are top stocks to buy today; here's why

SRF is on the verge of a consolidation breakout as the price up move has been supported by good volumes. The 50 DEMA has acted as a support on declines where buying interest is seen

Buy TATAMOTORS | CMP ₹ 682 | SL ₹ 661 | TGT ₹ 713

The Tata Motors stock has given a breakout from its last couple of weeks consolidation. The stock has seen a long phase of underperformance and the improving volumes along with the price up move indicates a fresh buying interest in the stock. Hence, we expect the stock to rally in the near term.

Buy SRF | CMP ₹ 3,050 | SL ₹ 2,950 | TGT ₹ 3,250 

The SRF stock is on the verge of a consolidation breakout as the price up move has been supported by good volumes. The 50 DEMA has acted as a support on declines where buying interest is seen.  ALSO READ | Stocks to Watch Today: Britannia, Coal India, Dabur, Voltas, RIL, L&T, PNB

Buy BAJAJ FINANCE | CMP ₹ 8,986 | SL ₹ 8,710 | TGT ₹ 9,400                  

Bajaj Finance stock has been forming a ‘higher top higher bottom’ structure and is thus in an uptrend. Recently, the stock has seen a pullback move but has formed a ‘Bullish Engulfing’ pattern near its 50 DEMA support. Thus, we expect the stock to resume its uptrend  from current levels. 

 

(Disclaimer: Ruchit Jain is head of equity technical research, wealth management at Motilal Oswal Financial Services Ltd. Views expressed are his own.)