Stock Pick for Tuesday, September 28, 2021

  • Stock Market Analysis

In the previous session, the market opened a gap up, and a sell-off was seen in the overall market in the early trade. Nifty managed to close in Green. A volatile session was seen yesterday. Technically, No signs of weakness have been seen yet. Hence, we recommend approaching the markets in a sector and stock-specific way. Sectors to watch are Realty, Auto, and IT.

Indian Stock Market will open flat. Technically, the Indian Stock Market is still in the positive zone and analysis would remain the same. The market would enter into the negative zone only if it closes below 17700 for Nifty and 37508 for BankNifty . Traders should initiate fresh short positions only if the market closes below these levels but until then traders can continue to hold long positions in the market. Following Stock looks technically strong and traders can accumulate this stock at dips.

Motherson Sumi Systems Ltd. (NS: MOSS )

NSE: MOTHERSUMI   BSE: 517334  Sector: Auto Ancillaries

Looking at the daily chart we can clearly see the stock-breaking trend line. As of today, the AUTO Sector gained momentum. Monthersumi has seen a breakout with Volumes that confirm the breakout and we expect the stock to head towards higher levels.

AUTO Sector today closed with gains of approx. 3% where all the Automobile companies (2 wheeler, 3 Wheeler and 4 Wheeler), auto ancillaries and batteries companies gained momentum.

Hence we recommend keeping these stocks on the radar till the festival season gets over. In short, we recommend going long on Mothersumi for the target of 242-250 with a stop loss placed below today’s low i.e. 224.70

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
  • Rabindra Kumar Mishra @Rabindra Kumar Mishra
    great
    Like 0
  • dcp kumar @dcp kumar
    First time reading your article will follow and watch for some days.....thanks for the tip
    Like 0
    • Pratish Vaidhya @Pratish Vaidhya
      Tips are given in the hotel
      Like 0
    • Pratish Vaidhya @Pratish Vaidhya
      Analyze yourself. Only trade later.
      Like 0
    • Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

      Error: File type not supported

      Drop an image here or

      100
  • Gopal Vora @Gopal Vora
    thanks
    Like 2

Related Articles