Market trading guide: Motilal Oswal, KIMS among 5 stock recommendations for Monday

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, ETMarkets.com|

Nov 10, 2024, 04:37:59 PM IST

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Stock Recommendations

The Indian equity markets faced a tumultuous week, marked by significant volatility that saw whipsaw sways throughout the week. Investors experienced a rollercoaster of emotions as the indices showcased choppiness, reflecting a mix of market sentiment and external factors of the US presidential election.

Here are 5 stock recommendations for Monday

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Buy Motilal Oswal at Rs 997 | Target Price: Rs 1,100 | Stop Loss: Rs 950

Motilal Oswal Financial Services Ltd has recently broken out from a pennant pattern on the daily chart, a strong bullish indicator suggesting the potential for a sustained uptrend. This breakout is backed by a notable surge in trading volume, highlighting increased buying interest and reinforcing the stocks positive outlook.

Virat Jagad, Technical Analyst at Bonanza

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3/6

Buy Netweb Technologies at Rs 2,838 | Target Price: 3,000 | Stop Loss: Rs 2,790

The daily chart of Netweb Technologies India Ltd shows a confirmed breakout from a symmetric triangle pattern, a strong bullish indicator. This breakout is backed by a substantial increase in trading volume, signaling robust buying interest and reinforcing positive market sentiment. The stock is currently trading near its recent highs, with both the Fast and Slow EMAs trending upward, which further supports the bullish outlook.

Virat Jagad, Technical Analyst at Bonanza

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4/6

Buy KIMS at Rs 570 | Target Price: 620 | Stop Loss: Rs 544

KIMS presents a promising buy opportunity at its current price of 570.15 in the cash market. The stock has been demonstrating a clear uptrend, characterized by a flag and pole pattern on the daily chart. Recently, it broke out from this pattern with notable trading volumes, indicating strong momentum in the upward movement.

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5/6

Buy Chalet at Rs 892 | Target Price: 975 | Stop Loss: Rs 850

Chalet is currently trading at 892.05 and is in a long-term uptrend, having consistently formed higher highs and higher lows over the past few months. After reaching a record high, the stock has been consolidating in a range, indicating a period of price stability before potentially resuming its upward movement.

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6/6

Buy Jubilant Food at Rs 607 | Target Price: 660 | Stop Loss: Rs 580

Jubilant Food is trading at 2,873.70, maintaining a long-term uptrend with a consistent pattern of higher highs and higher lows observed over the past few months, reflecting strong bullish sentiment. After a recent upward move, the stock witnessed a throwback from higher levels and found support near demand zones.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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This article was originally published by Indiatimes.com. Read the original article here.