The latest analysis and commentary by stock market guru Chandan Taparia of Motilal Oswal Securities on what is moving the markets today.

He also spoke at length on Bata India, ICICI Bank, and Muthoot Finance.

Talking about his F&O strategies Chandan Taparia said, “First trade is buy on Bata India. This stock is trading at lifetime high territory. After the consolidation of last 4-5 trading session it has given fresh breakout. On weekly scale it has been making higher tops and higher bottom. You have seen the open interest addition of around 20-25 percent in just couple of days so expecting the stock to extend its positive momentum to the new high territory. One can buy with a stop loss of Rs 1,257 for an upside target towards Rs 1,335. Second trade is buy on Muthoot Finance. In last 2-3 trading session we have seen buy interest in selective NBFC counter, Muthoot Finance has given a breakout from its small triangle formation. I am expecting the counter to head towards Rs 555-558 one can buy with a stop loss of Rs 525.”

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