Top-Shelf Power Picks: Tata Power & Siemens Highlighted by Chandan Taparia of MOFSL for Astounding Market Gains Today
Stock Market Insights: Hindalco, Siemens, and Tata Power Show Bullish Trends
24th September 2024 | 6:35 AM IST | 1 min read
In recent market movements, notable bullish trends have been observed in Hindalco, Siemens, and Tata Power, offering promising opportunities for investors.
Buy Recommendation: Hindalco (CMP: ₹717)
Hindalco has shown a breakout from a consolidation zone on the daily chart, supported by significant volume. The MACD indicator’s bullish crossover confirms the upward momentum. Target price is set at ₹760 with a stop loss at ₹695.
Buy Recommendation: Siemens (CMP: ₹7,095)
Siemens has demonstrated a bullish reversal on the daily chart, indicated by a strong bullish candlestick. The stock has been forming higher highs and higher lows over the past three trading sessions. The RSI momentum indicator turning up further supports the bullish outlook. Target price is fixed at ₹7,570 with a stop loss at ₹6,885.
Buy Recommendation: Tata Power (CMP: ₹468)
Trading near its all-time high, Tata Power has broken out of its range on the weekly chart. The ADX indicator’s upward movement supports the bullish trend. A target price of ₹500 is set with a stop loss at ₹455.
Disclaimer: Chandan Taparia, Senior Vice President of Equity Derivatives & Technicals at Motilal Oswal Financial Services Ltd., has provided these insights. The views expressed are his own.
Source: Motilal Oswal Financial Services Ltd.
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