Trade Call: 3 Technical Chart Analysis With Buy Call For The Week By Motilal Oswal

Due to Christmas, both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will be closed on December 25. However, the technical and derivatives team, brokerage & distribution, Motilal Oswal Financial Services Ltd. recommended three technical stocks to purchase for the week beginning with the trading session on Tuesday, December 26 and ending on Friday, December 29. Read the full technical analysis, entry price, target price, and stop-loss for Bharat Electronics, DLF, and Persistent Systems.

DLF

Buy DLF @ CMP of Rs 715, stop-loss: Rs 675, target: Rs 765

DLF has been in an overall uptrend and forming higher highs - higher lows structure on a weekly scale from the past three weeks. On a daily scale as well, the stock gave a range breakout on daily scale with a strong bullish candle. It is holding well above its 20DEMA from past many sessions and supports are gradually shifting higher with noticeable volumes.

RSI is on the verge to give positive crossover which suggests momentum to pick up in coming sessions. Good buying interest is visible across the Realty space and thus looking at the overall chart structure recommending to buy the stock with keeping stop loss below 675 levels for a target towards 765 zones.

Bharat Electronics

Buy at CMP of Rs 175, stop-loss: Rs 168, target: Rs 195

BEL was trading at a new lifetime-high territory and gave a range breakout on a monthly scale. On a weekly scale, the stock is forming a higher top - higher bottom structure from the past four weeks with a good surge in volumes. It is trading above its short-term moving average and the RSI is also turning upwards which suggests momentum is likely to continue in coming sessions. Thus, looking at the overall chart structure recommending to buy the stock with keeping stop loss below 168 levels on a closing basis for a new lifetime high towards 195 zones.

Persistent Systems

Buy at CMP of Rs 7431, stop-loss: Rs 7180, target: Rs 7850

Persistent is trading at life time high territory and forming higher lows on a monthly scale from the past four months. On the weekly scale as well, the uptrend is intact with the highest weekly close. On a daily scale, the stock gave a consolidation breakout with a good surge in volumes.

It is holding well above its 20 DEMA and RSI is turning upward which suggests momentum to continue going ahead. The stock has been a strong outperformer within the Midcap IT space and it is likely to scale new record highs. Thus, looking at the overall chart structure recommending to buy the stock with keeping stop loss below 7180 levels on a closing basis for a target towards 7850 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.