The latest analysis and commentary by stock market guru Yogesh Mehta of Motilal Oswal on what is moving the markets today.
He also spoke at length on JSW Steel, Divi's Laboratories and Escorts.
“Metal sector has done very well on day before yesterday session so JSW Steel is one which has given a strong breakout above Rs 304 level closed at Rs 30, so one can go long for a target of Rs 320-325 zone and keep a stop loss of Rs 301. The other one is Divi's Laboratories, in the pharma sector it is still in the range of Rs 1,715 on the high side to Rs 1,617 on the lower side. It closed at around Rs 1,747, if it trades at above Rs 1,752-1,753 levels then one can go long for a target price of Rs 1,810 to Rs 1,815 level keeping a stop loss of Rs 1,715. One short position it seems that Escorts which has closed near to its crucial 200 day moving average after a long time and with the negative data if any and if it breaches that level on the opening side then below Rs 735 it is a short candidate for a target price of Rs 715 and keep a stop loss of Rs 755.”
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