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 TVS Motors, PVR, Tata Motors, and State Bank of India.
Speaking about individual stocks, Mehta said, “On the individual stock specific strategy, we are looking at all on the buy side. Auto numbers, where TVS Motors we are looking on the buy side, Rs 540-545 was the resistance level and till now it was not crossing that after 5-6 attempts. Now it has crossed it on Monday and closed at around Rs 560. One can look at buying this and keeping a stop loss of Rs 545 in F&O and target will be in the range of Rs 585-590 level.”
“The other one is PVR. Rs 1,426 is the closing. It is a very bullish strong signal on the chart, weekly, daily, and monthly level. Here on the long side keep a stop loss of Rs 1,400 and target could be in the range of Rs 1,475-1,480. Tata Motors so far has not performed and has not participated in any kind of a bull rally. However, the signals are showing on the strength. Open interest has come down by 33 percent in last 10-15 days from Rs 170 level to Rs 191. One can go long on this keeping a stop loss of Rs 184; it is a 3-4 day perspective, and target could be in the range of Rs 206-208 levels,” he added.Disclaimer:
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