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 Bajaj Finance, Titan, and LIC Housing Finance.
Speaking about individual stocks, Sharma said, “Positive on most of the NBFC counters. So recommending to go long on Bajaj Finance. The stock has surpassed its falling supply trend line. It has seen the peak of support on the higher side. So up move could be seen led by the range breakout. One can buy with a stop loss of Rs 2,390 for an upside target towards Rs 2,515 level. Second trade is buy on Titan. The stock has given a narrow range breakout and open interest activity is indicating the up move. We have seen Put writing activity with open interest significant jump which indicates up move towards Rs 960. One can buy with a stop loss of Rs 911.”
“Last trade is on LIC Housing Finance. We have seen short covering of around 3-4 percent and Put writing is seen at ‘at the money’ strike which is giving the scope for a move towards Rs 484-488 kind of level. So one can participate in playing 470 Call by putting a stop loss of Rs 3 and this call can move towards Rs 14.” he added.
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