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

Big Bull Rakesh Jhunjhunwala has made several changes in his portfolio. In many interviews, he has explained his trading style and various strategies that traders should follow. Not only investors admire Jhunjhunwala's investment strategy, the trading community also respects his trading skills. Rakesh Jhunjhunwala stocks that have been in the news are Titan, Tata Motors, Escorts and Lupin. 

Sumeet Bagadia, Executive Director, Research at Choice Broking has this to say about these stocks. 

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Sumeet recommends selling Titan in cash at Rs 1408 with a stop loss of Rs 1452 and target of Rs 1340. On the daily timeframe, Titan has formed a Double Top Pattern, which indicates a reversal in the prices. The stock has reversed from Middle Bollinger Band formation, which shows downward move for the near term. The price has traded below its 50 days Simple Moving Averages, which supports the bearish trend. A momentum indicator RSI (14) & MACD witnessed correction with negative crossover. Hence, Sumeet is expecting a downward move for the near term. Titan share price closed at Rs 1407 in last session, down Rs 27.5 or 1.9%.

Sumeet says sell Tata Motors in cash at Rs 323 with stop loss of Rs 332 and target of Rs 300. On the daily chart, Tata Motors has formed Bearish Engulfing Candlestick Pattern in the prior week and in the recent week, it has formed a Doji candlestick, which is a sign of trend reversal.  Moreover, the volume of activities has been falling from the last couple of weeks, which indicates less buying behaviour. The stock has also found the resistance at Upper Bollinger Band formation, which suggests further weakness for the near term.  A momentum indicator RSI (14) & Stochastic showed negative crossover on the daily chart, which point-out bearish move in the prices. Tata Motors share price closed at Rs 323 in last session, down Rs 10 or 3.1%.

Sumeet says buy Lupin in cash at 1018 with stop loss of Rs 980 and target of Rs 1080. On the daily chart, the stock has been trading with the support of Rising Trendline and 50 days SMA levels. Moreover, the price has also traded above Lower Bollinger Band formation with positive crossover, which indicates bullish presence in the counter. A momentum indicator RSI (14) & Stochastic has shown good strength, which supports the bullish trend for the near term. So based on the above structure, Sumeet is expecting upside move for the near term. Lupin Share price closed at Rs 1018 in last session, down Rs 6 or 0.6%.

On the daily chart, Escorts has been forming Triple Top Pattern, which is a sign of trend reversal. The stock price has shifted below Ichimoku Cloud formation, which indicates bearishness in the counter. However, the price is still hovering above the Rising trend line, which suggests further support around Rs 1200 levels. A momentum indicator RSI (14) and Stochastic is showing some weakness, which may keep the prices lower side. So based on the above structure, Sumeet is expecting a bearish move for the near term. Escorts share price closed flat at Rs 1311 in last session.