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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.

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Hindalco share price has broken out of a consolidation zone on the daily chart with noticeable volumes | Photo: Shutterstock

Chandan Taparia Mumbai

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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.

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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.)


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First Published: Sep 25 2024 | 6:35 AM IST

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