Tata Power, Siemens among top bets by Chandan Taparia of MOFSL for today
Tata Power is trading near its all-time high price and given a range breakout on the weekly chart. The ADX indicator has turned up which supports the bullish trend.
 "Tata Power, Siemens among top bets by Chandan Taparia of MOFSL for today")
Buy Hindalco | CMP: Rs 717 | Stop Loss: Rs 695 | Target: Rs 760
Price has broken out of a consolidation zone on the daily chart with noticeable volumes. Buying is visible across the metal space. The MACD indicator has given a bullish crossover and headed up which confirms the upward momentum.
Buy Siemens | CMP: Rs 7,095 | Stop Loss: Rs 6,885 | Target: Rs 7,570
A bullish reversal is visible on the daily chart with the recent candlestick being a large bodied bullish candle which confirms the uptrend. It is forming higher highs-higher lows from past three trading sessions. The RSI Momentum indicator has turned up which has bullish implications.
Buy Tata Power | CMP: Rs 468 | Sop Loss: Rs 455 | Target: Rs 500
Stock is trading near its all-time high price and given a range breakout on the weekly chart. The ADX indicator has turned up which supports the bullish trend.
(Disclaimer: Chandan Taparia is senior vice president of equity derivatives & technicals, wealth management at Motilal Oswal Financial Services Ltd. Views expressed are his own.)