The markets are trading at life highs and Big Bull Rakesh Jhunjhunwala has made several changes to his portfolio. He continues to buy, sell, and add stocks to his portfolio. Rakesh Jhunjhunwala sold its winning stocks at higher valuations and added other stocks at lower levels. Investors also need to learn their trading style. Many investors consider Jhunjhunwala a great investor, but few know that he is also an excellent trader. He has explained his trading styles in many press conferences. Not only do investors admire Jhunjhunwala’s investment strategy, the trading community also respects the Ace investor for their trading skills.
Sumeet Bagadia, Executive Director of Research at Choice Broking, recommends trading some of his stocks in the Rakesh Jhunjhunwala portfolio. These include Titan, Tata Motors, Escorts, and Lupine. He briefly indicated the levels at which to buy the stock, stop losses and goals. Traders should understand and read these strategies, it will surely help them trade these stocks effectively and efficiently.
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Sumeet proposes buying Tata Motors shares in cash at Rs 319 with a stop loss of Rs 298 and a target of Rs 350. On a monthly chart, Tata Motors stock has been up at high volume for the past few months, indicating a trend reversal in the counter. On a daily chart, Tata Motors has moved above previous swing highs and above the upper Bollinger Band formation, showing positive strength in the counter. A momentum indicator RSI (14) and MACD indicated a positive crossover of the daily timeframe, indicating a short-term upward movement. Given the above technical aspect, Sumeet expects a bullish move in Tata Motors in the short term.
Sumeet recommends buying titanium in cash at Rs 1515 with a stop loss of Rs 1445 and a target of Rs 1650. Titan is trading in the Higher Top & Higher Bottom formation on the daily chart, indicating that the meter is bullish. In addition to this, the price has also found support in the formation of the Middle Bollinger Band and 50 Day Simple Moving Averages that support the uptrend. A momentum indicator RSI (14) and MACD have shown a positive crossover, which increases the bullish presence in the titanium counter. Given the above technical structures, Sumeet expects a bullish move towards 1650 in Titan.
Sumeet suggests buying Lupine in cash between Rs 1040 and Rs 1050 with a stop loss of Rs 1000 and a target of Rs 1100. On the daily chart, Lupine is trading with the support of Rising Trendline and 50-day SMA levels. Additionally, the price was also trading with a positive crossover above the Ichimoku cloud formation, indicating a bullish presence in the meter. A momentum indicator RSI (14) & Stochastic has shown good strength, which supports the short-term uptrend. Due to the above structure, Sumeet expects an upward movement in Lupine in the short term.
Sumeet recommends buying escorts in cash at Rs 1400 with a stop loss of Rs 1320 and a goal of Rs 1550. On the daily chart, Titan indicated a breakout of the symmetrical triangle pattern and held above it, indicating a bullish sentiment on the meter. On a weekly timeframe, Escorts with higher volume activity moved near the all-time high, suggesting a breakout above the previous level of 1453. A momentum indicator RSI (14) & Stochastic showed a positive crossover which more emphasizes uptrend in prices.