Trading idea by Ajit Mishra: Sell April futures of Motherson Sumi

Motherson Sumi has witnessed a breakdown from a distribution pattern on the daily chart

Buy Bajaj Auto Limited

Last close: Rs 3,678.35

Initiation range: Rs 3,650-3,665

Target: Rs 3,770

Stop loss: Rs 3,600

Within the auto space, Bajaj Auto has witnessed decent correction from its record high and is currently hovering around the support zone of medium-term moving average(100 EMA) on the daily chart. The oversold positions combined with the existense of support are pointing towards the possibility of a rebound soon. Traders shouldn’t miss this opportunity and create fresh longs in the mentioned zone.
 

Buy Britannia Industries Limited

Last close: Rs 3,568.40

Initiation range: Rs 3,535-3,550

Target: Rs 3,740

Stop loss: Rs 3,460