Tata Engines
CMP: Rs 452.05
Change OI April Series: 18.35%
Change in share price in the April series (%): 4.22%
Strong sales data from Jaguar Land Rover (JLR) has recently pushed shares of Tata Motors higher. Chandan Taparia, Derivatives Analyst, Motilal Oswal, said traders could buy shares at current levels with a stop loss of Rs 435 for a target of Rs 475 in the near term.
Power Grid Corporation
CMP: Rs 232.60
Change OI April Series: 24.56%
Change in share price in the April series (%): 7.29%
The stock has gained sharply amid a rally in energy shares on expectations of better financials due to a spike in summer demand. "Rs 222 is the support and it can go down to Rs 255. One can buy at the current levels or a small dip for a target of Rs 255," Motilal Oswal's Taparia said.
torrent power
CMP: Rs 542.55
Change OI April Series: 23.89%
Change in share price in the April series (%): 10.31
Torrent Power has also seen the addition of bullish bets amid a rally in energy stocks. โTorrent Power is on the rise; has given a breakout of its consolidation range. One can buy at current levels towards Rs 530-545, hold a stop loss of Rs 520 for a target of Rs 575-590,โ said Rajesh Palviya, chief technical and derivatives officer at Axis Securities.
infosys
CMP: Rs 1,814.60
Variation OI April Series: 18.60%
Change in share price in the April series (%): -4.84%
The stock has seen an 18% increase in open interest along with a nearly 5% drop in share price in the April series, indicating an accumulation of bearish bets. Infosys is set to report its March quarter results on April 13. โInfosys has shown some corrective action but Rs 1760 is a major support area. If he maintains that he may see a pullback to Rs 1,860 and if he crosses it, then the pullback may continue towards Rs 1,930-1,940,โ said Axis Securities' Palviya.
Bharat Electronics
CMP: Rs 239.60
Change OI April Series: 27.6%
Change in share price in the April series (%): 13.66
Defense stocks have been high on investors' radar lately after the government announced plans to expand procurement of locally made products. Bharat Electronics has seen an accumulation of bullish positions due to these factors and has also seen a technical breakout. โBEL shares are coming out of a long consolidation break above Rs230. It may touch Rs 255-260 in the next few weeks. One can keep a stop loss of Rs 224,โ said Axis Securities' Palviya.
