The latest analysis and commentary by stock market guru Chandan Taparia of Motilal Oswal Securities on what is moving the markets today. Check out his top stock recommendations.
He spoke at length about DCB Bank, Motherson Sumi, and ITC.
Speaking about individual stocks, Taparia said, “Recommending to go long on DCB Bank with a stop loss of Rs 209 and expecting it to move towards Rs 230 and even higher levels from a positional point of view.”
“Sell Motherson Sumi on small bounce back move with a stop loss of Rs 139 and this stock has potential to retest the recent swing lows of Rs 127,” he added.
On ITC, Taparia said, “Recommending to go with bull call spread by buying one lot of 305 Call and sell one lot of 315 Call. So the entire spread one has to pay the premium of around Rs 3.5. Keep the spread stop loss of 1.5 for target of 7.5. So, almost 1:2 risk reward ratio and overall we are expecting ITC to head towards Rs 315 levels.”Disclaimer:
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