MOSL

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Can I en­ter Moti­lal Oswal at the cur­rent price?

- Deepak Nya­m­agoudar

BUY MOTI­LAL OSWAL FI­NAN­CIAL SER­VICES AT CMP

Moti­lal Oswal Fi­nan­cial Ser­vices is cur­rently trad­ing at Rs 1484. Its 52-week high/low stand at Rs 1518.85/Rs 439.10 made on Oc­to­ber 11, 2017 and Novem­ber 21, 2016, re­spec­tively. Con­sid­er­ing the daily time-frame, the stock has given a mul­ti­ple re­sis­tance break­out at Rs 1306-1309 lev­els on Oc­to­ber 4 and has surged up to its 52-week high. The stock cor­rected up to 23.6% re­trace­ment of the prior up­ward rally and has re­cently at­tempted a bounce back. The 14-pe­riod RSI has given pos­i­tive cross­over though at 70 level, with vol­umes slightly grow­ing. We, there­fore, sug­gest a Buy in the stock as kind of Flag pat­tern is in the mak­ing.

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