Hero Moto, Cipla, NTPC: Stock picks by Chandan Taparia for today, Sept 18
Source: Business Standard
Buy Hero MotoCorp | CMP: Rs 5,961 | SL: Rs 5,820 | Target: Rs 6,280
The stock has given a range breakout on daily scale with noticeable volumes which may support the ongoing bullish momentum. The RSI indicator is rising which confirms the uptrend.
Buy NTPC | CMP: Rs 416 | SL: Rs 405 | Target: Rs 440
Price has broken out of a consolidation zone on the Daily time frame with higher-than-average buying volumes which could support the up move. The MACD indicator has given a bullish crossover and headed up which confirms the upward momentum.
Buy Cipla | CMP: Rs 1,671 | SL: Rs 1,645 | Target: Rs 1,760
The stock is in a strong uptrend with the most recent candle being a large bullish candle breaching the previous all-time high price. The ADX line is rising and the positive DI is well above the negative DI which suggests the bullish trend has strength.
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Disclaimer: Chandan Taparia is senior vice president, equity derivatives & technicals, Wealth Management, Motilal Oswal Financial Services. Views expressed are his own.
First Published: Sep 18 2024 | 8:43 AM IST
