Federal Bank, Tata Motors, Titan: Trading strategies for these 3 buzzing Jhunjhunwala stocks

Benchmark stock indices settled marginally lower on Friday after a range bound session. Investors turned cautious amid a flare up of tenions in the Middle-East. The BSE Sensex declined 115.81 points, or 0.17 per cent, to end the session at 66,166.93. The NSE Nifty dropped 19.30 points, or 0.10 per cent, to end the day at 19,731.75.

A few buzzing and results-bound stocks namely Federal Bank, Tata Motors, Titan Company are likely to be in focus today. Here is what Vaishali Parekh, Vice President, Technical Research at Prabhudas Lilladher has to say on these stocks ahead of Tuesday's trading session:

Federal Bank | Buy | Target Price: Rs 159-168 | Stop Loss: Rs 143
Federal Bank has been moving within a range. It is facing resistance near Rs 152 level for some time. The scrip has a near-term support at Rs 143 level, which is also where the significant 50-EMA lies. A decisive breach above Rs 152 level is necessary to trigger a breakout on the upside. The next targets in that case would be Rs 159 and Rs 168 levels. At the same time, only a decisive breach below Rs 143 level shall weaken the bias.

Titan Company | Buy | Target Price: Rs 3,470-3,600 | Stop Loss: Rs 3,170
Titan Company has seen a decent pullback from the significant 50-EMA level of Rs 3,125 zone, which has improved its bias. The ongoing consolidation looks ready for a breakout. A decisive move past the Rs 3,350 zone shall trigger further momentum with likely targets of Rs 3,470 and Rs 3,600 levels, respectively, in the coming days. The RSI is well placed, indicating upside potential from current levels. The near term support lies near Rs 3,170 level, below which the trend would turn slightly weak.

Tata Motors | Buy | Target Price: Rs 730-790
Tata Motors has been in consolidation for quite some time. It gave a breakout above the resistance level of Rs 650 in the last session following a positive bullish candle. That has opened the gates for further upward move for targets of Rs 730 and Rs 790 levels, respectively. The RSI has indicated strength. One can maintained a positive bias, as the stock can see further rise in the coming days.

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