Big Bull Rakesh Jhunjhunwala stocks: Tata Motors, Titan, Lupin and Escorts

Many investors just think Rakesh Jhunjhunwala is a great investor but few are aware he is an excellent trader as well. In many press conferences, he has explained his trading style. Not only investors admire Jhunjhunwala's investment strategy, the trading community also respects the ace investor for his trading skills as well. Markets are trading at life highs and Big Bull Rakesh Jhunjhunwala has made several changes in his portfolio..

Sumeet Bagadia, Executive Director, Research at Choice Broking recommends trading in some of these stocks. These Rakesh Jhunjhunwala stocks include  Titan, Tata Motors, Escorts and Lupin.

Titan share price:

Sumeet says on the daily chart, Titan has been forming a Double Top pattern, which is a sign of trend reversal. However, the breakdown will be confirmed below 1415 levels. The stock has shifted below Middle Bollinger Band formation, which indicates the weakness in the prices. The volume has been falling down from the last  couple of days, which suggests a bearish move for the near term. A momentum indicator RSI (14) & Stochastic has shown negative crossover, which supports the bearish trend. The current share price of Titan is Rs 1468, up Rs 8 or 0.6%,

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Tata Motors share price:

Sumeet suggests buying Tata Motors in cash at Rs 330 with stop loss of Rs 210 and target of Rs 365. On the daily chart, the stock has been forming Pennant Pattern, which is a bullish continuation pattern. Moreover, the price has been trading in a bullish trend with the support of Middle Bollinger. A momentum indicator RSI & Stochastic has shown positive crossover on the daily chart, which suggests a bullish trend. So based on the above technical structure, Sumeet is expecting bullish strength in the counter till the level of 365. The current share price of Tata Motors is trading flat at Rs 330.

Lupin Share price:

Sumeet says buying Lupin at Rs 1075 and on dips upto 1023 with a stop loss of 980 and target of Rs Rs 1160 – Rs 1240. On a daily chart, the stock has been trading in a Symmetrical Triangle Formation where recently the stock has faced strong resistance of the upper band of Formation which shows a weakness in the counter. Based on the above technical structure, Sumeet is expecting minor correction upto to the level of 1023, from where a bounce back can be seen and the stock may spurt upto 1160 to 1240 while downside support comes at Rs 980. The current share price of Lupin is Rs 1058, down Rs 5 or 0.5%.

Escorts share price:

On a daily chart, Escorts has been trading in a Rectangle Formation where recently the stock has faced strong resistance of its Upper Band of the formation which shows a weakness in the counter. Moreover, Escorts has formed a Shooting Star Candlestick formation with the resistance of Upper Band of Formation which is a Bearish Reversal formation and suggests a southward movement in the counter. Based on the above technical structure, Sumeet is expecting a weakness in the counter upto the level of 1300 to 1190 while upside Resistance comes at Rs 1470. The current share price of Escorts is flat at Rs 1377.