The stock is showing signs of reversal from its important support placed at 7,450 levels. It might show further strength if it moves above 7,620. Besides, the automobile stock is also sustaining above its important moving averages. We recommend buying the stock above 7,620 for the target of Rs 7,785, keeping a stop loss at Rs 7,490 on closing basis.
Buy Voltas Limited (Above Rs 823)
The stock is showing signs of reversal from its important support zone placed at 800. It might show further strength if moves above 823. The counter is also sustaining above its important moving averages. Voltas might out-perform its peer as technical set-up is strong. We recommend buying the stock above 823 for the target of Rs 843, keeping a stop loss at Rs 808 on closing basis.
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Disclaimer: Gaurav Garg is Head of Research at CapitalVia Global Research Limited- Investment Advisor. The analyst does not hold position in any of the stocks mentioned above. Views expressed are personal.
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