Tata Motors, Adani Ports, Reliance Industries: Trading strategies for these blue-chips stocks

Domestic equity indices settled with big gains on Friday and kept the momentum going in the special trading session of Saturday. The 30-share pack BSE Sensex settled 60.80 points, or 0.08 per cent, higher at 73,806.15. The NSE Nifty ended at 22,378.40, up 39.65 points, or 0.18 per cent.

A few stocks Tata Motors Co Ltd, Adani Ports and Special Economic Zone Ltd and Reliance Industries Ltd are likely to be in focus today. Here is what Mileen Vasudeo, Senior Technical Analyst at Arihant Capital Markets has to say on these stocks ahead of Monday's trading session:

Tata Motors | Hold | Target Price: Rs 1,040-1,070 | Stop Loss: Rs 959
Tata Motors made higher top-higher bottom formation on the daily chart. The momentum indicator viz. RSI is positively poised and the stock is outperforming benchmark indices. One can hold the stock at current levels with a stop loss of Rs 959 for a target Rs 1,040-1,070 levels in a couple of weeks.

Reliance Industries | Hold | Target Price: Rs 3,140-3,220 | Stop Loss: Rs 2,900
RIL made higher high formation on the daily chart, which is a sign of strength. The momentum indicator viz. RSI is positively poised and the stock is outperforming benchmark indices. One can hold the stock with a stop loss of Rs 2,900 for target of Rs 3,140-3,220 levels in the next couple of weeks.

Adani Ports & Special Economic Zone | Target Price: Rs 1,420-1,470 | Stop Loss: Rs 1,290

Adani Ports is trading sideways on the daily chart. The stock has good support at Rs 1,310 – 1,300 levels. The momentum indicator viz. MACD is positively poised and the stock is outperforming benchmark indices. One can hold the stock at current levels Rs 1,336 with a stop loss of Rs 1,290 for target of Rs 1,420 –1,470 levels in the next couple of months.

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