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Long-term investors can buy the shares of Motilal Oswal Financial Services (₹1,214.20) now. The stock has risen and closed well above a key resistance level of ₹1,175 last week. This is giving sign of a bullish breakout. Strong support is there in the ₹1,050-1,000 region as well. Moving average crossovers on the weekly and the monthly chart strengthens the bullish case. The stock can rise to ₹1,500-1,600 in the first quarter next year. Thereafter, a short-lived corrective fall to ₹1,400 is a possibility.
However, the overall trend will continue to remain up. An eventual break above ₹1,600 will then open the doors for Motilal Oswal Financial Services share price to target ₹2,400-2,500. This rally will take time. We expect the stock to take atleast two years to reach the above-mentioned target. So, investors will have to have patience and remain invested ignoring the intermediate corrections.
Long-term investors can buy Motilal Oswal Financial Services now. Accumulate on dips at ₹1,180 and ₹1,090. Keep a stop-loss at ₹710. Trail the stop-loss up to ₹1,450 as soon as the stock moves up to ₹1,850. Move the stop-loss further up to ₹1,950 when the price touches ₹2,150. Exit the stock at ₹2,340.
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