Weekly Trade Call: 3 Best Technical Stock Picks With Buy Rating This Week

Based on technical analysis, the technical & derivatives team, broking & distribution, Motilal Oswal Financial Services Ltd. recommended three stocks to buy this week. These are the heavyweights' stocks, and this week's stock selections for day trading include technical calls, share prices, outlooks, share price targets, and much more.

Find the best investment in stock market opportunities this week by seeking trading and stock recommendations from this research specialist.

Apollo Hospitals Enterprise

BUY APOLLO HOSPITAL AT CMP of Rs 5478, STOP-LOSS: Rs 5333, TARGET: Rs 5800

Apollo Hospital gave range breakout on daily scale and formed a strong Bullish Marubozu candle. On weekly scale as well it is forming higher highs - higher lows from the past three weeks and closed above its crucial hurdle of 5350 zones. The stock is trading above its short term moving averages on daily scale with noticeable volumes. Buying interest is visible in the Healthcare Index and the stock is likely to outperform in the coming sessions. Thus looking at the overall chart setup we recommend to buy the stock with a stop loss below 5333 levels on a closing basis for a new upside target towards 5800 zones.

Hero Motocorp

BUY HERO MOTOCORP AT CMP of Rs 3334, STOP-LOSS: Rs 3200, TARGET: Rs 3550

Hero MotoCorp has given a trend line breakout on daily scale and formed a strong bullish candle on weekly scale. It is also forming higher highs - higher lows from the past few sessions as supports are gradually shifting higher. The stock is respecting to its 50DEMA and the momentum indicator Relative Strength Index (RSI) is positively placed which indicates strength in the stock. Auto Index is trading at a lifetime high which will support the ongoing up move. Thus looking at the overall chart structure we are recommending to buy the stock while keeping the stop loss below 3200 levels on a closing basis for a target towards 3550 zones.

Cummins India

BUY CUMMINS INDIA AT CMP of Rs 1829, STOP-LOSS: Rs 1760, TARGET: Rs 1950

Cummins India has formed a strong base near 1750 zones and gave a Triangle breakout on weekly scale after nine weeks. It formed a strong bullish candle on weekly scale while structure of higher lows is intact on daily scale. It managed to surpass its short term moving average and RSI is also turning upward which suggests momentum is likely to continue in coming sessions. Thus looking at the overall chart structure recommending to buy the stock while keeping stop loss below 1760 levels on a closing basis for a target towards 1950 zones.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.