The technical analysts believe that this is the right time to buy Motilal Oswal, BPCL and Tata Global.
All the veteran technical analysts are of the view that Motilal Oswal Financial Services is a buy with a stoploss of Rs 1,360 and target of Rs 1,410.
Bharat Petroleum Corporation Limited is an Indian state-controlled Maharatna oil and gas company headquartered in Mumbai, Maharashtra. The Corporation operates two large refineries of the country located at Mumbai and Kochi.
BPCL is a buy with a stoploss of Rs 500 and target of Rs 535.
Tata Global Beverages Limited is an Indian multinational non-alcoholic Beverages Company headquartered in Kolkata, West Bengal, India and a subsidiary of the Tata Group. Tata Global Beverage is a buy with a stoploss of Rs 288 and target of Rs 302.
Many analysts believe that the auto stocks have been in correction even earlier. Therefore Bajaj Auto can easily get back towards Rs 3,000-3,050.
On the other hand, there is probability that the Hero Motocorp might stay in correction. So, autos overall, other than a Maruti Suzuki are not doing very well.
Hero Motocorp is now below its 200-day moving average which is at Rs 3,600.
So all of this will create some amount of bottoming of these stocks.
Eicher Motors has broken its 200-day moving average. Therefore people think that probably these two-three year run of autos may slow down for a while.