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 Bajaj Finance, BPCL, & HDFC.
Speaking about F&O stock ideas Chandan Taparia said, “First trade is buy on Bajaj Finance. This stock has seen rollover of 92 percent the stock has already rallied by 13 percent in the last series and technically it is forming a breakout from its pole and flag pattern. Recommending to buy with a stop loss of Rs 3,430 and expecting it to hit towards Rs 3,630 kind of level. Second trade is from oil marketing companies and decline in the crude could support oil marketing companies as well. BPCL is managing well above, multiple hurdle of Rs 400 zone and hovering near to its 12 months high levels. We have seen call unwinding activity and fresh leg of up move led by short covering could be seen so recommending to go long on BPCL with a stop loss of Rs 399 and here we are expecting an up move towards Rs 429-430 zone.”Disclaimer
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