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Technical stock picks | Indian Hotels, Tata Consumer, DLF, UltraTech Cement, Tech Mahindra on the radar
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Technical stock picks | Indian Hotels, Tata Consumer, DLF, UltraTech Cement, Tech Mahindra on the radar
Mar 20, 2023 1:49 AM

Technical analysts Mitessh Thakkar and Sudarshan Sukhani, along with Chandan Taparia of Motilal Oswal share their top stock picks for the day.

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From Sudarshan Sukhani

Sukhani finds a buying opportunity in Indian Hotels. The stock has a very attractive chart for positional buy. The stock is making some kind of a bullish pattern which is not confirmed but will be confirmed. One can buy with a stop loss of Rs 306. Shares have gained 1.91 percent over the last month.

Sukhani's intraday short is on India Cements. According to Sukhani, the stock has been underperforming, it's in a trading range. If it breaks that range there's a significant decline may come in. For this intraday short, Sukhani advises a stop loss of Rs 195. Shares are down 5.60 percent over the last month.

Sun TV in a sustained downtrend and that is an intraday short from Sudarshan Sukhani. Stop Loss is to be placed at Rs 440. The stock was down 4.51 percent over the last one month.

Lastly, Sukhani recommends a buy on Tata Consumer Products. It is kind of hope trade. The stock has been in a downtrend and is suggesting that perhaps it may start a rally. Whether it will be a relief rally or a genuine rally - is to be seen, but is worth buying into, it iss a good quality store. Stop Loss is to be placed under Rs 685. Shares of Tata Consumer is down 4.27 percent over the last month.

Read Here | UBS to buy rival Credit Suisse in $3.3 billion deal to end crisis

From Mitessh Thakkar

Mitessh Thakkar's first sell call of the day is on Eicher Motors. One can sell with a stop loss of Rs 3,000 and Rs 2,900 as the first target. Shares Eicher Motors is down 9.60 percent in the last month.

SBI Cards is the next sell call. One can keep a stop loss of Rs 731 for a target of Rs 704. The stock is down 4.60 percent in the past month.

Among the buy recommendations, Thakkar has one on DLF. The stock appears to have given a very strong reversal on the upside. He recommends a buy with a stop loss of Rs 366 for targets of Rs 395-397. Shares of DLF have gained 1.74 percent over the last month.

Tata Consumer Products is another buy call from Mitessh Thakkar. His recommendation comes with a target of Rs 725 and a stop loss of Rs 696. The stock has declined 4.27 percent in the last month.

From Chandan Taparia

Chandan Taparia has a buy call on UltraTech Cement. This stock is holding when taking multiple support near to Rs 7,000 zone from last 30 trading session, even the PUT writing is visible in the counter which clearly indicates some sort of relative strength and setup to outperform the market. Buy UltraTech Cement with a stop loss of Rs 7,150 and the stock has potential to bounce to Rs 7,600 level. The stock was down 2.39 percent over the past month.

Additionally, he also has a buy recommendation on Tech Mahindra with a stop loss of Rs 1,105 and an upside target of Rs 1,170-1,175. The stock is down 2.61 percent over the past month.

Taparia also recommends a sell call on Eicher Motors. He recommends to sell the stock with a stop loss of Rs 3,050 for a downside target of Rs 2,870 levels. Shares Eicher Motors is down 9.60 percent in the last month.

Watch: Chandan Taparia of Motilal Oswal in interaction with CNBC-TV18

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