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 Reliance Industries, HDFC Bank, Bajaj Finance.
“First trade is buy on Reliance Industries, this stock has given a consolidation breakout trading near to its recent lifetime highs. We have seen fresh Put writing activity. The stock has seen some open interest activity which also indicate that further up move in the counter. Recommending to go long on Reliance with a stop loss of Rs 1,380 for an upside target towards Rs 1,480 level. Second trade we selected to be here with HDFC Bank. On last two trading sessions that stock has seen the strong momentum. This stock has potential to head towards Rs 2,450 so one can buy with a stop loss of Rs 2,300. One more trade on Bajaj Finance. This stock has given a consolidation breakout of last five weeks and added build-up of long positions. Here we are expecting further move of 4-5 percent. One can buy with a stop loss of Rs 3,090 for an upside target of Rs 3,300 level in this counter.”
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