Based on Sumeet Bagadia's recommendations from Choice Broking, here are the buy suggestions for Monday, July 1st:
1. Tata Motors (TATAMOTORS)
- Current Market Price (CMP): 989.75
- Recommendation: Buy
- Stop Loss: 965
- Target: 1040
- Rationale:
- Strong bullish momentum and a breakout of a falling trend line.
- Trading above key moving averages (20, 50, 200 Day EMAs).
- RSI at 57.40 indicating positive momentum.
- Strong support near 966 levels.
2. Britannia Industries (BRITANNIA)
- Current Market Price (CMP): 5475.55
- Recommendation: Buy
- Stop Loss: 5290
- Target: 5860
- Rationale:
- Corrected from a record high, finding support at 5290.
- Trading above all significant moving averages.
- Immediate resistance at 5550, with the potential to rise towards 5860.
- RSI at 63.13 supporting further upward movement.
3. ONGC
- Current Market Price (CMP): 274.20
- Recommendation: Buy
- Stop Loss: 263
- Target: 293
- Rationale:
- Robust technical outlook with strong support near 263.
- Trading above short-term and medium-term EMAs.
- Small resistance near 279; break above this could lead to significant gains.
- Positioned above all key moving averages indicating a bullish trend.
Risk Disclaimer
Investing in the stock market involves risk, including the loss of principal. The above recommendations are based on technical analysis and market conditions as of the time of writing and do not guarantee future performance. It is essential to conduct your own research and consider your risk tolerance before making investment decisions. We do not accept liability for any loss or damage that may arise from reliance on this information. Always consult with a financial advisor before making investment decisions.
