Pre Budget Technical Basket - 2025 by Motilal Oswal Wealth Management
Smart Basket
* Our markets have corrected sharply in last few months, which seems to be a short term corrective phase within a longer term uptrend.
* Nifty has crucial support in the range of 22800-22500 and thus, the risk reward seems favorable at current levels.
* We advise traders to invest at current juncture through a basket approach with focus on large cap stocks ahead of the Union Budget 2025.
Duration : 1 Month Upside 10%
* ICICI Bank : Stock has taken support near crucial 200 DEMA and has formed reversal pattern. It has given trend line breakout on daily chart and relatively outperforming within Nifty Pvt bank space. • Bajaj Finance : Stock is holding gains in spite of broader market weakness and is on the verge of flag breakout above 7500 zones.
* SRF : Stock is on the verge of giving narrow range breakout on weekly chart above 2635 zones and Pole and Pennant breakout on daily scale.
* Eicher Motors : Stock has retested breakout on daily scale and inched higher. It is holding well above 50 DEMA and momentum indicator RSI is positively placed.
* Ultratech Cement : Stock has formed support base around 10500-10700 and has moved higher with noticeable volumes which has bullish implications.
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