Top five trading picks from Jitendra Mehta

We bring you the Top five trading picks from Jitendra Mehta, Head Technical Research – Edelweiss Financial.



Idea Cellular: Sell; Target - Rs 115; Last Close - Rs 129.30; Stop Loss: Rs 136

‘Tweezer Tops’ on weekly chart have bearish implication. Momentum indicators trigger sell.

HCL Tech: Buy; Target - Rs 783; Last Close - Rs 756.45; Stop Loss: Rs NA

It has broken above a minor resistance of 753 and fresh buy signal on daily MACD

Bajaj Auto: Buy; Target - Rs 1820; Last Close - Rs 1774.55; Stop Loss: Rs 1720

A strong start to the week suggests the stock is poised for a rally up to 50-day EMA

Aurobindo Pharma: Sell; Target - Rs 167; Last Close - Rs 177.65; Stop Loss: Rs 183.54

After retracing 61.8% of previous fall, it has once again got into bearish mode

Tata Motors: Sell; Target - Rs 278; Last Close - Rs 162.35; Stop Loss: Rs 306

A trend line break has been enforced coupled with sell signal on momentum oscillators