These 3 stocks are a must-have in your portfolio; key reasons inside

Post a long period of underperformance, Asian Paints shares have started forming a 'Higher Top Higher Bottom' structure on the daily chart.

Buy Asian Paints | CMP: ₹2,491 | SL: ₹2,430 | Target: ₹2,600

 

Post a long period of underperformance, Asian Paints have started forming a ‘Higher Top Higher Bottom’ structure on the daily chart. Prices are trading above its crucial 50 and 200 DEMA’s and the RSI oscillator is hinting at a positive momentum. Hence, we expect a short term upmove in the stock.

 

Buy IndiGo | CMP: ₹5,893 | SL: ₹5,700 | Target: ₹6,250

 

The stock is in an overall uptrend and has recently shown relative outperformance in markets corrective phase. It has consolidated within a range in last one month which just seems to be a time-wise correction within an uptrend. The 50 DEMA has acted as a support and till this is intact, the stock could resume its broader uptrend soon.   

 

 

Buy TVS Motor | CMP: ₹2,953 | SL: ₹2,790 | Target: ₹3,250

 

The stock has been an outperformer within the Auto stocks in last few months. Prices have given a breakout above its previous swing high with rise in volumes in last few days hinting at a buying interest even at current levels. The daily as well as the weekly charts are hinting at continuation of the positive momentum and hence, we advise positional traders to buy the stock at current levels.  (Disclaimer: Ruchit Jain is the head of equity technical research, wealth management at Motilal Oswal Financial Services. Views expressed are his own.)