Chandan Taparia of MOFSL recommends buying these two stocks today

City Union Bank stock opened with a gap up and sustained its bullish strength which suggests strong bullish sentiment.

Buy City Union Bank | CMP: Rs 168 | SL: 162 | Target: TGT 182

Stock opened with a gap up and sustained its bullish strength which suggests strong bullish sentiment.  The MACD indicator has given a bullish crossover which confirms the trend change upward.

Buy ICICI Bank | CMP: Rs 1,267 | SL: Rs 1,225 | Target: Rs 1,360

Price has broken out of a consolidation zone on the daily time frame with higher-than-average buying volumes which could support the up move. The RSI Indicator has crossed its centreline and is rising which confirms the upward momentum.

Sell UPL Oct 30 Futures | CMP: Rs 530 | SL: Rs 550 | Target:R 490         

 

Price has given a breakdown below the support levels on daily chart indicating weakness. The stock is also forming lower top lower bottom formation on weekly charts with resistance shifting on lower side.

(Disclaimer: Chandan Taparia is a senior vice president, equity derivatives & technicals, wealth management, Motilal Oswal Financial Services Ltd)