The latest analysis and commentary by stock market guru Gaurav Bissa of LKP Securities on what is moving the markets today. Check out his top stock recommendations.

He spoke at length about Titan, MCX, and Ceat.

Recommending stock specific ideas, Bissa said, “First recommendation today would be a buy call Titan futures. On daily charts the stock has given a breakout from inverse head and shoulder pattern. A decent amount of longs have seen getting built. Today also we are seeing about 2 percent open interest (OI) addition getting built. Option wise also some amount of activity is seen in out-of-money Call option. So one can keep a stop of Rs 950 on the upside, target of Rs 990 would become quite possible.”

“Second recommendation today would be buy on MCX futures. It has been trading in a range. It has now come out of range, range breakout has been seen today, 4-4.5 percent OI addition has been seen, and fresh longs are seen getting built today. It has been adding OI addition last t2-3 days also. Option wise also it is showing a breakout above Rs 760. One may keep a stop loss of Rs 750 on the upside, Rs 775 would be the first target. If that also holds, it can even move towards Rs 800 in next three or four trading sessions, “he added.

Bissa recommended selling Ceat. He said, “Ceat has given a breakdown on daily charts from bearish head and shoulder pattern. It can now test levels of Rs 1,220-1,215. One can keep a stop loss of Rs 1,216, it has fallen a bit now. Keep a stop loss of Rs 1,260 and sell Ceat futures.”

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