Monthly Ideas : Lupin Ltd, Mahindra & Mahindra Ltd By Motilal Oswal Wealth Management
Lupin Ltd
Buy Lupin Ltd Buy Range : 2050 - 2130 CMP 2082SL 1970 TARGET 2310
* Retesting breakout form triangle pattern on the daily chart.
* It is respecting its 20 DEMA support zones with slight dips being bought into.
* RSI momentum indicator is rising, confirming improving sentiment.
* Looking at the overall price structure, we are expecting the stock to inch higher towards the 2310 zone.
* Hence, we advise traders to buy the stock with a stop-loss of 1970.
Mahindra & Mahindra Ltd
Buy Mahindra & Mahindra Ltd Buy Range : 3685 - 3800 CMP 3741SL 3560 TARGET 4140
* Stock is in an overall uptrend and has broken out form a triangle pattern.
* The up moves are supported with higher than average traded volumes.
* RSI indicator is positively placed, confirming bullish momentum.
* Price continues to hold above its short-term moving average, reaffirming trend strength.
* Looking at the overall price structure, we are expecting the stock to inch higher towards the 4140 zone.
* Hence, we advise traders to buy the stock with a stop-loss of 3560.
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