Motilal Oswal experts recommend buying Tata Motors, SRF, and Bajaj Finance stocks for short-term gains. Learn about the target and stop-loss levels.
Stocks To Buy: On May 8th, Ruchit Jain, a leading equity technical research expert at brokerage firm Motilal Oswal, recommended buying three stocks with potential for short-term profits. These stocks include Tata Motors, SRF, and Bajaj Finance. Let's understand these stocks and their target and stop-loss levels as suggested by Ruchit Jain.
1. Tata Motors
Current Price (CMP): ₹682
Stop Loss (SL): ₹661
Target (TGT): ₹713
Ruchit Jain believes that Tata Motors stock has successfully broken out of its recent range. Despite underperforming in the past few months, the stock is now showing signs of increasing volume and price movement, suggesting a potential short-term rally. Therefore, investors may find a short-term buying opportunity in Tata Motors stock.
2. SRF
Current Price (CMP): ₹3,050
Stop Loss (SL): ₹2,950
Target (TGT): ₹3,250
SRF stock is nearing a consolidation breakout, and Ruchit Jain has set a target of ₹3,250. This stock has seen price appreciation with good volume. Support from the 50-day exponential moving average (50 DEMA) indicates a buy signal, suggesting a potential price increase in the coming days.
3. Bajaj Finance
Current Price (CMP): ₹8,986
Stop Loss (SL): ₹8,710
Target (TGT): ₹9,400
Bajaj Finance stock is forming a 'higher high, higher low' pattern, indicating an uptrend. A recent pullback move has been observed in this stock, but it's forming a 'bullish engulfing' pattern near the 50 DEMA. This suggests the stock may resume its uptrend and reach ₹9,400.
