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 Bata India, NIIT Technologies, UltraTech Cement, Mahindra & Mahindra (M&M).
“First trade is buy on Bata India, even after the consolidation in the market we have seen the strong momentum in this counter and the stock is trading at life time high territory. So recommending to buy with a stop loss of Rs 1,100 for an upside target towards Rs 1,161. Second trade is IT pack that is NIIT Technologies, after the consolidation of last couple of trading sessions this stock has surpassed its falling supply trend line and seen the rollover of 95 percent. So significant rollover with price breakout indicates that some short covering or the upmove could be seen in the counter so one can buy with a stop loss of Rs 1,125 for an upside target towards Rs 1,200.”
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