Buy Hero MotoCorp, CMP: Rs 5,647 Stop Loss: Rs 5,515 Target: Rs 6,030

Stock has given falling supply trend line breakout on daily chart and holding well above the same. The MACD indicator has given a bullish crossover and turned up indicating the up move has the momentum to support it.

Buy ICICI Prudential, CMP: Rs 762 Stop Loss: Rs 740 Target: Rs 810

Stock has formed an Ascending Triangle with a Breakout near the ATH Price on daily chart indicating buyers are squeezing out the sellers and are ready for a bullish move. The RSI indicator is headed up which suggests that the momentum is supporting the up move. Buying is visible across Insurance space which may take the prices higher.

Price has broken out of a consolidation zone on the daily time frame which suggests we could see a bullish move to the upside. Stock has also closed above the upper Bollinger Bands indicator which confirms the uptrend.

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Disclaimer: Chandan Taparia is senior vice president, equity derivatives & technicals, Wealth Management, Motilal Oswal Financial Services. Views expressed are his own.