Companies & Industry »Company News»Company News Details
Company News Details

BSE   29 May 17 | 11:01 AM

1108.55 -3.35 (-0.3%)
Mkt Price (Rs)   Chg Rs (Chg %)
Code: 500257
Face Value: N.A.

NSE   29 May 17 | 10:59 AM

1108.80 -3.75 (-0.34%)
Mkt Price (Rs)   Chg Rs (Chg %)
Code: LUPIN
Performance
1 Week : Rs 1,262.90 (-12.22%)
1 Month : Rs 1,337.80 (-17.14%)
1 Year : Rs 1,480.70 (-25.13%)
change companytradenow
Back

Buy Lupin, Hindalco; sell Exide: Sacchitanand Uttekar, MOSL

Sacchitanand Uttekar / Mumbai 25 Nov 16 | 08:23 AM

Photo: Shutterstock

Here are a few trading ideas by Sacchitanand Uttekar, Equity Technical Analyst  & PFA at Motilal Oswal Securities

Widgets Magazine


Nifty Outlook


Post the occurrence of a ‘Bearish Belt hold’ formation (reversal formation) Nifty witnessed a series of narrow ranged bodies confined within its range. Also, the momentum oscillators are stating an oversold situation but only a close above 8,110 would warrant a pullback. Hence, the bullish implications of the pattern would only unveil above 8,110 ; until then expect index to gyrate within the narrow range of 8,100-7,900, for a while.


LUPIN


Reco:  BUY


Last Close: Rs 1458


Target : Rs 1570


Rebound from the lower end of the ‘Broadening Pattern’ formation. The 200 DEMA is placed near Rs 1,570 coinciding with the upper end of the Broadening formation. We expect the upmove to continue in the coming weeks and hence longs could be added with a stop below Rs 1,410.


HINDALCO


Reco: BUY


Last Close: Rs 180


Target: Rs 200


Positive sector outlook and breakout from the flag formation augurs well for the up move to extend. Hindalco could be traded with a stop below Rs 172 for an initial target upto Rs 200.


EXIDE


Reco: SELL


Last Close: 171.05


Target :161


Exide is now placed close to its 200 days EMA but the ‘Inverse Pennant’ formation on the daily scale now seems mature for a breakdown and augurs well for the fresh weakness. Short positions could be initiated with a stop above Rs 176.30 for a target up to Rs 161.

Disclaimer: Motilal Oswal Securities ( MOSL ) is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities. MOSL is in the process of getting registered under SEBI - Research Analyst Regulations. MOSL, the spokesperson or his relatives, do not have financial interest in the securities mentioned above. The spokesperson has not served as a director, employee or officer at the subject company in the last 12 months. MOSL or its associate might be involved in market making for the subject company or have potential conflict of interest.


Sacchitanand Uttekar is an Equity Technical Analyst at Motilal Oswal Securities

Widgets Magazine

Sensex

Company Price Gain (%)
ITC316.602.58
H D F C1,576.451.85
Hind. Unilever1,057.751.64
Reliance Inds.1,354.701.41
Power Grid Corpn205.101.11

Messages

Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine