Market expert Rajesh Palviya, Senior Vice-President (Head of Research) at Axis Securities, has offered his insights and target prices for several prominent stocks, including Ola Electric Mobility, Tata Motors Passenger Vehicles (TMPV), Bosch Ltd, and Varroc Engineering Ltd. Palviya emphasizes that patience is crucial for investors in the evolving electric vehicle (EV) sector, suggesting a "buy-and-accumulate" strategy for specific stocks within the space.
Ola Electric Mobility: Breakout Amid Financial Headwinds
Regarding Ola Electric Mobility Ltd, Palviya highlighted that the stock, previously among the most challenged EV plays, has recently shown a breakout on its weekly charts, accompanied by strong trading volumes. Despite this positive price action, he cautioned that the company still faces significant financial headwinds, advising investors to monitor the stock closely with a strict stop-loss. An entry point with a stop-loss at Rs 41.50 could target levels between Rs 46 and Rs 47.
Tata Motors Passenger Vehicles: Buy and Accumulate Strategy
For Tata Motors Passenger Vehicles (TMPV), Palviya recommended that positional traders consider buying and accumulating the stock, even during minor market declines. He identified Rs 365-370 as critical support levels. If the stock maintains above Rs 370, it could potentially reach higher targets of Rs 430-445. The overall strategy for TMPV, according to Palviya, should be "buy and accumulate."
Bosch Ltd: Potential Upside on Breakout
Commenting on Bosch Ltd, Palviya indicated that a sustained move above the Rs 38,000 level could attract substantial buying interest. Such a breakout might propel the stock towards further upside, with potential targets ranging from Rs 39,200 to Rs 40,000.
Varroc Engineering Ltd: Constructive Outlook
Varroc Engineering Ltd also received a constructive outlook from Palviya. He suggested that the stock could maintain a positive trajectory as long as it holds above the Rs 580-575 zone. Investors are advised to remain on the long side of the trade, as this upward momentum could extend further, potentially pushing the stock towards Rs 620-630 levels.
Disclaimer: This article provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.