Buy Indian Hotels | CMP: Rs 695 | Stop loss: Rs 675 | Target: 735
Indian Hotels have given a range breakout on daily charts and gave the highest daily close ever. It has formed a strong bullish candle on daily scale and ADX Line has turned up and the Positive DI is well above the negative DI which suggests the up move has strength.
Buy PI Industries | CMP: Rs 4,690 | Stop loss: Rs 4,580 | Target: Rs 4,900
PI Industries is in a strong uptrend and holding the gains at higher zones. It has been making higher highs – higher lows on a weekly scale and supports are gradually shifting higher. Momentum indicator RSI is positively placed which suggests bullish momentum.
Buy Bajaj Auto | CMP Rs 10,987 | Stop loss: Rs 10,750 | Target: Rs 11,500
Stock has negated lower highs – lower lows formation after five trading sessions and inches higher. Overall setup is bullish and every small decline is being bought into. The MACD Indicator has given bullish crossover which could confirm the upward momentum.
(Disclaimer: Chandan Taparia is a senior vice president of equity derivatives & technicals, wealth management at Motilal Oswal Financial Services Ltd. Views expressed are his own.)
First Published: Sep 11 2024 | 7:12 AM IST
