Weekly Trading Guide: Buy/Sell Stock Recommendations By Motilal Oswal

The technical & derivatives team of broking & distribution, Motilal Oswal Financial Services Ltd has issued buy calls on 3 stocks based on technical analysis, The team has recommended to buy the shares of Abbott India, Bharti Airtel and Persistent Systems.

Abbott India

BUY ABBOTT INDIA AT CMP: 28404, STOP-LOSS: 27200: TARGET: 30500

Abbott India is in overall uptrend and forming higher lows on monthly scale from the past two months. On weekly scale the stock retested its previous breakout zone and formed a Hammer candle with a long lower shadow. On daily scale the stock rebounded from its 50 DEMA and holding at higher zones in spite of market weakness. The stock has been a huge outperformer within the MNC space and is likely to scale new record highs in coming sessions.

Momentum indicator Relative Strength Index (RSI) is also moving northward which indicates momentum to pick up in coming sessions. Thus looking at the overall chart structure we are recommending to buy the stock with keeping stop loss below 27200 levels on closing basis for a new lifetime high target towards 30500 zones.

Bharti Airtel

BUY BHARTI AIRTEL AT CMP: 1220, STOP-LOSS: 1180, TARGET: 1300

Bharti Airtel is in a continuous uptrend and forming higher top-higher bottom formation on higher degree charts. On weekly scale the stock gave range breakout and formed a Bullish candle to closed above 1200 zones. On daily scale the stock is all set to give consolidation breakout after five sessions and is likely to scale new record highs. The stock is been an outperformer within the telecom space and strength likely to continue. It is holding well above its 50DEMA and supports are gradually shifting higher. Thus looking at the overall chart structure we are recommending to buy the stock with keeping stop loss below 1180 levels on closing basis for a target towards 1300 zones.

Persistent Systems

BUY PERSISTENT AT CMP: 8432, STOP-LOSS: 8150, TARGET: 9000

Persistent gave a trend line breakout on daily scale and taking multiple support near its 50DEMA. On weekly scale the stock formed a Pin Bar with long lower shadow which indicates buying is visible at lower zones. Momentum indicator RSI is giving bullish crossover which suggests momentum to pick up in coming sessions. Strong buying is visible across IT space and stock is likely to move higher towards its recent lifetime high territory. Thus looking at the overall chart structure recommending to buy the stock with keeping stop loss below 8150 levels on closing basis for a target towards 9000 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.