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Motilal Oswal Financial Services - Pick for Swing Trade 8-March-2021

Hello All,

Welcome to Strategic Fortune.


Here is a pick for Swing Trade - Motilal Oswal Financial Services.

The stock has broke and gave closing above the Trend line under Daily Time Frame. If we also see the 5/15 Minutes time frame, the stock is consolidating above the trend line. So the same trend line can now act as a Support.


Hence if the stock opens gap up and give 5/15 min candle closing above 657 then one can enter in Buy trade. If not, then do avoid trade in 8-March-2021.


For the Buy trade, the targets can be 678 and 695 and 730.

Also the stock is currently trading above 10 and 50 EMA and also gave Cross over under the Daily time frame.


The stock also has formed base support line under daily time-frame. Hence in case stock gives downside movement then there is a possibility that it will take support on the base support line.


In addition to above, do refer below pointers as well as on 6-March-2021 day end session.

LTP is yesterday's High.

200 DMA breakout under Daily Time-Frame

5 day breakout and 30 day breakout.




Thanks,

Strategic Fortune team

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1 Comment


Mahesh T.
Mahesh T.
Mar 08, 2021

Target 1 is achieved today 678 and stock went towards high of 687.

New Trend line is formed and I have highlighted the No-trading zone highlighted in rectangle for Intraday trade on 9-March-2021.


If 15-Minute candle closes above 680 then Buy trade can be taken. -> Immediate target of 690

If 15-Minute candle closes below 665 then Sell trade trade can be taken. -> Immediate target of 649.



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