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 Interglobe Aviation, Kotak Mahindra Bank and Hero Motocorp.
“First trade is buy on Interglobe Aviation, after the short covering we have seen built up of long position by 8-9 percent. This stock is trading near to its 11 -12 months high levels and all set to surpass the April 2018 high of Rs 1,590 zones. One can buy with a stop loss of Rs 1,450 and this stock has potential to head towards new high territory on Rs 1,535 level. Second trade is buy on Kotak Mahindra Bank. We have seen some buying interest in banking counter and private banks started to attain buying interest. After the consolidation of last 15 trading sessions this stock has managed to surpass immediate hurdle of Rs 1,370 zone on the decisive closing basis so fresh upmove and breakout could be seen in the counter. We have seen some short covering activity and momentum can take it to Rs 1,415 level one can buy with a stop loss of Rs 1,355 for an upside target.”Disclaimer
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