Sumeet Bagadia, Executive Director, Research at Choice Broking recommends buying into IndusInd Bank, TVS Motors, Ambuja Cement, Muthoot Finance for trading. These strategies will help traders understand what stop losses they need to keep for their trades and help them make some profits by holding on to the correct stocks.

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IndusInd Bank Share price

Sumeet recommends Buying into IndusInd Bank in cash at Rs 958 with a stop loss of Rs 900 and target of Rs 1050. On a weekly chart, the stock has sustained above 50% FR and 50 weeks Simple Moving Averages, which indicates bullish strength in the prices. Moreover, on the daily chart, the stock has given a breakout of rounding bottom and sustained above the prior swing highs. Furthermore, a momentum indicator RSI (14) and MACD has shown positive crossover, which supports the bullish trend for the near term. So based on the above technical structure, Sumeet is expecting a bullish move in Indusind Bank for the near term.

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TVS Motors Share price

Sumeet recommends Buying into TVS Motors in cash at Rs 497 with stop loss of Rs 478 and target of Rs 516 – Rs 535. On a daily chart, the stock has been trading in an Upward Rising Channel formation since the last many days which shows a bullish movement in the counter. Moreover, the stock has been trading above its 50 Days Moving Average since the last many days which shows a positive trend for the time being. On an hourly chart, the stock has given a breakout of its range bound movement which indicates spurt in prices. Based on the above technical structure, Sumeet is expecting a good upside movement in the counter during upcoming trading sessions.

Ambuja Cement Share price

Sumeet recommends Buying into Ambuja Cement in cash at Rs 265 with stop loss of Rs 242 and target of Rs 288 - 311. Recently the stock has taken the support of its Lower Band of Broadening Rising Wedge formation which shows a bounce back movement in the counter. Moreover, the stock has been trading above its 50 Days Moving Average which shows a positive trend for the time being. Even volume activity is above accentuated level with rise in price which shows valid moves in the counter.

Muthoot Finance Share price

Sumeet recommends Buying into Muthoot Finance in cash at Rs 1278 with stop loss of Rs 1245 and target of Rs 1340. On the daily chart, the stock has given a breakout of the Symmetrical Triangle Pattern, which indicates a bullish move in the counter. Moreover, price has also sustained above Upper Bollinger Band formation, which suggests buying strength for the near term.  Additionally, a momentum indicator RSI (14) and MACD is indicating a positive crossover on the daily chart, which is another confirmation of a bullish trend.  So based on the above technical aspect, Sumeet is expecting a bullish move in Muthoot Finance for the near term.