Trade Call: 3 Technical Stock Picks For The Week By Motilal Oswal

Trent, TVS Motor Company, and Coal India are this week's recommended stocks to buy, according to the Technical & Derivatives Team, Broking & Distribution, Motilal Oswal Financial Services Ltd. These are the stock's full technical specifications, which are based on an analysis that includes an entry price, stop-loss, and target price.

Trent

Buy Trent at CMP of Rs 3055, stop-loss: Rs 2940, target: Rs 3250

Trent is trading at life-time high territory and forming higher highs - higher lows structure from the past nine weeks. On a daily scale as well, it gave a consolidation breakout after ten sessions with the highest daily close. It is holding well above its 20 DEMA and RSI is also giving bullish crossover which suggests momentum to continue going ahead.

The stock has been a strong outperformer within the Midcap 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 2940 levels on a closing basis for a new target towards 3250 zones.

TVS Motor Company

Buy TVS Motor Company at CMP of Rs 2025, stop-loss: Rs 1950, target: Rs 2200

The stock is in an overall uptrend and forming higher highs - and higher lows on a monthly scale from the past seven months. On a weekly scale as well, it formed a strong bullish candle with good surge in volumes. On a daily scale, it retested the breakout zone and started to inch higher towards lifetime-high territory.

It is also holding well above its 20 DEMA and supports are gradually shifting higher. Strong outperformance is seen in the Auto space and stock is likely to scale new lifetime highs. Thus, looking at the overall chart set up we recommend to buy the stock with a stop loss below 1950 levels on a closing basis for an upside target towards 2200 zones.

Coal India

Buy Coal India at CMP of Rs 376, stop-loss: Rs 362, target: Rs 405

Coal India is trading at multiyear high territory and gave a weekly range breakout after six weeks. It formed a strong bullish candle on the daily and weekly scale which good surge in volumes. On a daily scale it is holding well above its 20 DEMA and supports are gradually shifting higher.

RSI is also holding well near 80 zones which suggests strength in the stock. The stock is a strong outperformer within the CPSE index and is likely to scale new highs in coming sessions. Thus, looking at the overall chart structure recommending to buy the stock while keeping the stop loss below 362 levels on a closing basis for a new high towards 405 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.