Top stock recos for today’s trade: Buy Hero MotoCorp, Mastek & Force Motors

Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst – Technical Research at Prabhudas Lilladher:

Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst – Technical Research at Prabhudas Lilladher:

NIFTY VIEW

The day began with positive Global cues with Nifty surging towards 10,472 now to re-test the previous high of 104,90. The support for the day is seen at 10,400 while resistance is seen at 10,510.

CMP: Rs 3,302

STOP LOSS: Rs 2,600

TARGET: Rs 3,800

The stock after making a bottom at around 3000 levels & has been in a recovery mode also has maintained above the 34 WMA in the daily chart. With decent volume participation and RSI indicator on the rise, we anticipate the stock to move further upward towards 3800 level .

We recommend a buy in this stock for an upside target of 3800 keeping a stop loss of 2600.

HERO MOTO CORP – BUY

CMP: Rs 3701

STOP LOSS: Rs 3500

TARGET: Rs 3800

The stock has given a decent correction from the levels of 4084 to 3410 levels and from thereon has made a good recovery to reach till 3700 level. The RSI is on the rise and MACD indicator also is in the buy mode and along with other favorable indicators supporting, we recommend a buy in this stock for an upside target of 3800 keeping a stop loss of 3500.

MASTEK – BUY

CMP: Rs 397.75

STOP LOSS: Rs 370

TARGET: Rs 480

The stock has rallied with tremendous volume participation and with the positive indicators like RSI and MACD, we anticipate this stock to move further upwards to around 480 levels. We recommend a buy in this stock keeping a stop loss of 370 for an upside target of 480.

Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

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