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Osho Krishan of Anand Rathi recommends buying Tata Motors DVR, Birlasoft

BUY TATAMTRDVR LTD | TARGET: Rs 160 | STOP LOSS: Rs 137

TATAMTRDVR has re-tested the breakout zone and has seen an early sign of reversal in the last trading session. On the daily chart, the stock has been able to sustain above all its exponential moving averages and is even hovering above the mean of the Bollinger band (20, 2) indicating inherent strength in the counter. The stock has formed a strong base around the zone of Rs 135-137 and sustenance above the same could be seen as a positive sign for the counter in the coming future.

BUY BIRLASOFT LTD | TARGET: Rs 442 | STOP LOSS: Rs 390

BSOFT is trading in a rising channel on a daily time frame. The stock has seen a strong resurgence from the lower band of the channel in the recent past and this time the lower band is being accompanied by the cluster of short-term exponential moving averages indicating a strong demand zone for the counter. Hence looking at the technical setup and the risk-reward ratio, it is advisable to go long in the counter from a short-term perspective.

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Disclaimer: Osho Krishan is senior manager – Equity Research at Anand Rathi Shares & Stock Brokers. Views are personal.


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