Tata Motors (TMCV), BPCL, Dr Reddy’s shares: Check strategy, outlook

Kiran Jani, Head of Technical Research at Jainam Broking, sees 23,200 as a strong support level for benchmark Nifty50, adding that if the index decisively holds 23,200, then traders can expect 24,500-24,800 levels in the upcoming months.

Offering a stock-specific view on Tata Motors (Commercial Vehicles) Ltd (TMCV) in Business Today Television’s (BTTV’s) Daily Calls segment on Tuesday, Jani advised investors to hold the stock with the strict stop loss of Rs 350.

In a separate query on Bharat Petroleum Corporation Ltd (BPCL), Jay Thakkar, Vice-President and Head of Derivatives and Quant Research at ICICI Securities, suggested that the stock can bounce back from the current levels.

“We can see upside levels of around Rs 300-320 in the near term. I think that Rs 275 will act as a very critical support for BPCL,” he stated.

Thakkar liked Dr Reddy’s Laboratories Ltd from the pharma sector.

“I’m quite bullish on this stock. At current levels, it is still offering a good risk-reward with a stop loss placed at Rs 1,250 from a positional basis. On the higher end, one can see Rs 1,500-1,600 levels going forward in the June series,” he said.

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(DISCLAIMER: The views/advice/suggestions expressed in the video are solely by market analysts & investment experts. Please consult your investment advisers before making any financial decisions.)