Motilal Oswal is showing a constructive turnaround after forming a double bottom, marking a shift in trend from bearish to bullish, said the analyst.
Motilal Oswal is showing a constructive turnaround after forming a double bottom, marking a shift in trend from bearish to bullish, said the analyst.Amid the rising volatility in the Indian stock markets, led by feeble geopolitical and domestic cues, Vishnu Kant Upadhyay, AVP of Research at Master Capital Services has suggested three stocks to buy, based on the technical charts including Dr Reddys Laboratories Ltd, Bharti Airtel and Motilal Oswal Financial Services Ltd. Here's what he said on these stocks:
Motilal Oswal Financial Services | Buy | Target Price: Rs 880-900 | Stop Loss: Rs 730
Motilal Oswal is showing a constructive turnaround after forming a double bottom, marking a shift in trend from bearish to bullish. The stock has since reclaimed both short and long term moving averages, indicating improving momentum and strong trend alignment. On a broader timeframe, price action is shaping an inverse head and shoulders pattern, reinforcing the positive outlook. Sustained strength above current levels could lead to further upside, with the overall structure favouring continuation of the emerging uptrend.
Bharti Airtel | Buy | Target Price: Rs 2,000-2,040 | Stop Loss: Rs 1,800
Bharti Airtel Ltd is witnessing a bullish reversal after breaking out of an ascending triangle pattern near the Rs 1,890 zone, indicating a shift in trend. Earlier, a positive RSI divergence around Rs 1,750 signalled fading downside momentum, which has now translated into a recovery in price action. The stock has also moved back above its short term moving averages, reflecting improving structure and strengthening momentum. As long as it sustains above the breakout level, the setup remains constructive, with potential for a gradual extension of the ongoing upward move.
Dr Reddys Laboratories | Buy | Target Price: Rs 1,425-1,460 | Stop Loss: Rs 1,250
Dr Reddys is witnessing a constructive pullback towards its earlier breakout zone around Rs 1,320, suggesting a healthy retracement within an ongoing uptrend. The breakout was supported by strong volume expansion, reinforcing bullish conviction. The stock continues to trade above its key moving averages, indicating positive alignment and sustained strength. Price action hints at accumulation on dips, and as long as it holds above the support zone, with RSI at 59, it appears well positioned to continue its ongoing positive trend.