Weekly Trading Guide: 3 Technical Stock Picks To Buy/Sell By Motilal Oswal

Based on the stock recommendations by the technical & derivatives team, broking & distribution, Motilal Oswal Financial Services Ltd, here are the technical stocks for buy or sell trade calls for the week.

Titan

BUY TITAN AT CMP of Rs 3309, STOP-LOSS: Rs 3230, TARGET: Rs 3450

Titan is in overall uptrend and formed a strong Bullish Engulfing pattern on weekly scale with highest ever weekly close. On daily scale it has given consolidation breakout and forming higher lows from the past three sessions. The stock is holding well above its short-term moving averages and the base of the stock is shifting higher.

The momentum indicator (RSI) also moving northward which suggests momentum to continue in the coming sessions. The stock has been an outperformer within the consumer sector and looking at the overall chart set up we recommend to buy the stock with a stop loss below 3230 levels on a closing basis for an upside target towards 3450 zones.

DLF

BUY DLF AT of CMP Rs 548, STOP-LOSS: Rs 530, TARGET: Rs 580

DLF has been in overall uptrend and retested the previous breakout zone on weekly scale with a strong bullish candle. On a daily scale the stock has given a fresh range breakout on daily scale after eighteen sessions and holding well above its 20 DEMA. It also formed a strong bullish Marubozu candle on daily scale with good surge in volumes. RSI is also giving positive crossover which suggests momentum to pick up in coming sessions. Good buying interest is visible across the Realty space and thus looking at the overall chart structure recommending to buy the stock while keeping stop loss below 530 levels for a target towards 580 zones.

Birlasoft

BUY BIRLASOFT AT CMP of Rs: 512, STOP-LOSS: Rs 490, TARGET: Rs 555

Birlasoft has negated formation of lower highs - lower lows on weekly scale after four weeks and formed a strong bullish candle. On daily scale it is gradually moving higher and holding well above its 20 DEMA. The relative strength Index (RSI) is also on the verge of positive crossover on weekly scale which suggests momentum to continue in coming sessions. Good buying interest is seen across IT stocks and thus recommending to buy the stock while keeping stop loss below 490 on a closing basis for an upside target towards 555 levels.

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.