Tata Power, Siemens among top bets by Chandan Taparia of MOFSL for today
Source: Business Standard
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Buy Hindalco | CMP: Rs 717 | Stop Loss: Rs 695 | Target: Rs 760
Price has broken out of a consolidation zone on the daily chart with noticeable volumes. Buying is visible across the metal space. The MACD indicator has given a bullish crossover and headed up which confirms the upward momentum.
Buy Siemens | CMP: Rs 7,095 | Stop Loss: Rs 6,885 | Target: Rs 7,570
A bullish reversal is visible on the daily chart with the recent candlestick being a large bodied bullish candle which confirms the uptrend. It is forming higher highs-higher lows from past three trading sessions. The RSI Momentum indicator has turned up which has bullish implications.
Buy Tata Power | CMP: Rs 468 | Sop Loss: Rs 455 | Target: Rs 500
Stock is trading near its all-time high price and given a range breakout on the weekly chart. The ADX indicator has turned up which supports the bullish trend.
(Disclaimer: Chandan Taparia is senior vice president of equity derivatives & technicals, wealth management at Motilal Oswal Financial Services Ltd. Views expressed are his own.)
First Published: Sep 25 2024 | 6:35 AM IST
