Mumbai: Shares of Tata Power and agro-chemicals firm UPL are expected to give healthy returns in the short run, Lead Research said in a report.
The research firm recommended investors to buy Tata Power’s stock at Rs 226-228, with a stop loss and target at Rs 219 and Rs 243-245, respectively.
It urged the investors to hold the stocks for one week.
“Looking at the price action and the ‘RSI’ readings, we expect a positive momentum in the (Tata Power) stock and hence, it could resume its broader uptrend,” the report said.
Besides, for UPL, it gave a ‘buy’ call at Rs 778-782 with stop loss and target at Rs 759 and Rs 805, respectively.
It recommended the investors to hold shares for two weeks.
“The volumes were good since the opening ticks itself today indicating buying interest in the counter. Thus, we expect the (UPL) stock to resume its broader uptrend and thus short-term traders can look for buying opportunities,” it said.