Muhurat Picks: Motilal Oswal picks 5 stocks for Diwali - Know target price, stop loss and buy duration
Planning to invest and earn some good money this Diwali? Brokerage firm Motilal Oswal suggests these 5 scrips for top returns viz. State Bank of India (SBI), L&T, Trent, Bata India, and Tech Mahindra. Check the target prices, stop loss, buy duration, and other details.
(Disclaimer: The views/suggestions/advices expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
State Bank of India: Buy| Target Rs 600| Stop Loss: Rs 450| Duration 2-3 months
Rollover has been intact at 93% from the last 2 months which indicates longs are upright in the stock with more than 10% price increase in the October series. One can look for Bull Call Spread opportunity here by buying 510 Call and selling 540 Call of the November series at a net premium cost of around 10 points. The target price is Rs 600, stop loss is Rs 450, and buy duration will be 2-3 months.
L&T: Buy| Target Rs 2200| Stop Loss: Rs 1600| Duration 2-3 months
Maximum Call OI is seen at 1900 and highest Call writers unwinding in this strike is making it a comfortable upside. Short covering seen in the October series so far will drive the stock to higher zones. One can initiate Bull Call Spread by buying 1820 Call and selling 2000 Call of the November series at a net premium cost of around 40 points. The target price is Rs 2200, stop loss is Rs 1600, and buy duration will be 2-3 months.