Top Stock Picks from Motilal Oswal for This Week: Balkrishna Industries, Trent, and Torrent Pharma

Motilal Oswal Recommends These Shares to Buy This Week

The Sensex started trading at 76,680.90, up 191 points from its previous close of 76,490.08, and surged to an intraday high of 76,860.53. However, it ended 33 points lower at 76,456.59 due to profit booking.

The Nifty 50 opened at 23,283.75, up from its previous close of 23,259.20, reaching an intraday high of 23,389.45 before closing 6 points higher at 23,264.85.

Siddhartha Khemka from Motilal Oswal said, “Nifty ended flat despite a positive day, while the broader market gained 0.6%-0.8%. Oil & gas and realty sectors gained over 1%. India’s VIX dropped by 10%, reaching a one-month low. Investors were encouraged by the retention of key cabinet portfolios by the BJP, boosting PSU stocks. However, the market is consolidating due to a lack of new triggers. Globally, investors are awaiting US CPI data and the US Fed policy outcome. The Fed’s commentary will guide market direction, with investors expecting a rate cut later this year.”

Motilal Oswal’s Stock Recommendations:

1. Balkrishna Industries Ltd

• Buy at: ₹3201
• Target Price: ₹3440
• Stop Loss: ₹3080

Balkrishna Industries is in an uptrend and has broken out of a long range. It retested previous support and showed strong buying. The RSI indicates positive momentum. Buy with a stop loss below ₹3080 for a target of ₹3440.

2. Trent

• Buy at: ₹4964
• Target Price: ₹5250
• Stop Loss: ₹4800

Trent is on a strong uptrend, trading at lifetime highs. It formed a bullish pattern, showing buying interest at lower levels. The stock broke out with its highest daily close. Buy with a stop loss below ₹4800 for a target of ₹5250.

3. Torrent Pharma

• Buy at: ₹2844
• Target Price: ₹3100
• Stop Loss: ₹2720

Torrent Pharma is in an uptrend, with a breakout on the weekly and monthly scales. It closed above ₹2800, indicating further gains. Buy with a stop loss below ₹2720 for a target of ₹3100.