The latest analysis and commentary by stock market guru Chandan Taparia of Motilal Oswal Securities on what is moving the markets today.
He also spoke at length on Bata India, Pidilite Industries and Tata Motors.
“First trade is buy on Bata India, the stock has taken a support at the previous swing high of Rs 1,370, overall trend is positive. This stock is making higher tops higher bottom formation, rollovers are better. After the consolidation of last couple of days this stock is all set to make towards the new high territory. Recommending to go long on Bata India with a stop loss of Rs 1,370 and this stock has potential to move towards Rs 1,435-1,444 levels on the higher side to new high territory. Second trade is Pidilite Industries, this stock has been emerging as one of the outperformer in the entire FMCG pick. We have seen recently consolidation breakout and the stock continuing to the new lifetime high territory. It has also given a breakout from its inverse head and shoulder pattern so Pidilite Industries look quite promising for an upmove towards Rs 1,345 kind of zones. One can buy with a stop loss of Rs 1,270.”Disclaimer
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