Nifty outlook and top stock picks by Motilal Oswal Securities

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Nifty outlook and top stock picks by Chandan Taparia, Derivatives & Technical Analyst, MOSL:

 

Outlook:

 

Nifty index opened gap up, tested the support of 10141 zones and recovered towards 10200 zones. However it got stuck in a range in second half of the trading session ahead of  expiry and formed a Doji candle on the daily scale which implies indecisiveness in the market. Now it has to hold above 10141 to extend its bounce towards 10276 then 10333 zones while on the downside supports are seen at 10080 and 10050 zones.

 

Stocks:

 

ASIAN PAINTS

Reco: BUY

Last Close: Rs 1,131

Stop Loss: Rs 1,111

Target: Rs 1,166

 

Taken support at the lower band of the trading zones and respecting to its horizontal support trend line.

 

BAJAJ FINANCE

Reco: BUY

Last Close: Rs 1,772

Stop Loss: Rs 1,730

Target: Rs 1,850

 

Surpassed its falling supply trend line and has been making higher top – higher bottom on lower degree chart

 

SRTRANSFIN

Reco: BUY

Last Close: Rs 1,453

Stop Loss: Rs 1,420

Target: Rs 1,515

 

Taken support at its rising support trend line, formed a Bullish Belt Hold candle