Market Trading Guide: Mazagon Dock, Motilal Oswal among 4 stocks that could deliver up to 11% returns in short term – Stock Ideas

Target: Rs 3,700

Stop loss: Rs 3,300
The stock has formed a piercing line pattern on the daily chart and a double bottom on the hourly chart, both of which suggest a potential short-term bullish reversal. After a brief two-day correction, the stock appears ready for a renewed uptrend. On the hourly chart, it has consistently held above the 50 EMA, reinforcing the ongoing bullish sentiment. The RSI has also given a bullish crossover on the hourly timeframe, supporting further upside potential. One can consider initiating a long position with a target of Rs 3,700, while placing a stop-loss at

(Rupak De, Senior Technical Analyst at LKP Securities)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)