Top technical picks: Motilal expects HAL, DLF, Tata Motors, Indian Hotels and Federal Bank to outperform in 1 month

Markets have been in an upward trend since July 2022. In a recent technical note, Motilal Oswal said that looking at the overall chart structure it expect the index to scale to higher levels. As long as the index is above 17,442 we can expect levels of 17,777 and 18,250 whereas support on the lower side are placed at 17,150 and 17,000, it noted. The brokerage believes there will be stock specific action which will continue in the market among stocks which have relative strength. There is buying interest visible in stock that looks attractive from the technical chart perspective and it has identified 5 stocks which are expected to outperform in the short to near term. This basket of 5 stocks, where each has a 20% weightage, is expected to see 12% upside in a month.