The latest analysis and commentary by stock market guru Yogesh Mehta of Motilal Oswal Securities on what is moving the markets today. Check out his top stock recommendations.
He spoke at length about Tata Consultancy Services (TCS), Jubilant Foodworks, BHEL, Maruti Suzuki.
Speaking about individual stocks, Mehta said, “Tata Consultancy Services (TCS) has done reasonably well in the last week and Rs 1,880 seems to be a strong support. So keeping that as a trading stop loss, target could be in the range of Rs 1,990-2,000 level. So that can be traded because it has formed head and shoulder pattern on the lower time frame which crosses over 50 day EMA. The other two are on the sell side. One is Jubilant Foodworks which is not crossing over Rs 1,214-1,215 level which is an important resistance level. So one can keep a stop loss of Rs 1,230 on future segment and current price is Rs 1,198. Target could be in the range of Rs 1,140-1,130 level. One more on sell side is BHEL Current price is Rs 66 and target could be in the range of Rs 61-61.50 with a stop loss of Rs 69 because it has done a formation of inverted cup and handle and bearish angle swing on a weekly basis.”Disclaimer:
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