The short-term outlook is bullish for Motilal Oswal Financial Services. The stock has surged over 11 per cent last week recovering all the loss made in the previous two weeks. The 21-day moving average (DMA) at ₹760 will now be a very good support for the stock. A trendline support is also poised around the same level. That makes the level of ₹760 a very strong support and difficult to break.

Motilal Oswal Financial Services share price can rise to ₹865 and ₹885 in the coming weeks. Traders can go long now at ₹808. Accumulate on dips at ₹780. Keep the stop-loss at ₹755 initially. Trail the stop-loss up to ₹816 as soon as the stock goes up to ₹825. Move the stop-loss further up to ₹845 when the share price touches ₹860. Exit the stock at ₹880.

(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)

Published on October 14, 2024