INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Key equity indices got on to the front foot today, maintaining their bullish trend, as the Sensex surged over 260 points despite
lacklustre Asian peers.
Market seems to have set its eyes on the Fed meet due on Wednesday, with the hope that the prolonged period of rate
hikes is going to get over
Global sentiment, Fed outcome and the movement of crude oil will broadly affect the market, but the stock specific action will still create
Based on several analysts' recommendations, below are 10 stocks that can give solid returns in the next two weeks
Let's take a look.
Aditya Agarwala, technical analyst at YES SecuritiesLT Technology Services| Buy| Target price: Rs 1,775-1,845| Stop
loss: Rs 1,540On the daily chart, LT Technology Services is approaching the upper end of the triangle pattern placed at Rs 1,715
A breakout above this triangle pattern can extend the upmove to the level of Rs 1,775-1,845
RSI has also turned upwards after taking support at the lower end of the bull zone i.e
40 level and has formed a positive reversal on the daily chart, suggesting bullishness in the stock
"The stock can be bought in the range of Rs 1,630-1,640 for targets of Rs 1,220-1,300, keeping a stop loss below Rs 1,015," Agarwala
said.
Future Retail| Buy| Target price: Rs 580-600| Stop loss: Rs 510On the daily chart, Future Retail is on the verge of a breakout from an
ascending triangle pattern, suggesting the resumption of an uptrend
Further, the stock has managed to close beyond its 200-DMA, affirming bull strength gaining momentum
Moreover, RSI has turned upwards after forming a positive reversal affirming bullishness
"The stock can be bought for the targets of Rs 580-600, keeping a stop loss below Rs 510," Agarwala said.
Mazhar Mohammad, chief strategist
have registered a breakout on multiple technical parameters on relatively higher volumes which is accompanied with a buy signal on momentum
Hence, sustaining above Rs 645 it can be expected to head towards Rs 770 over a period of time
In between, Rs 725 can be a hiccup but after this breakout with high volumes, the bulls should ideally head toward Rs 770
Muthoot Capital| Buy| Target price: Rs 1,037| Stop loss: Rs 850This counter appears to have registered a consolidation breakout after
forming a decent base around Rs 800
Hence, sustaining above Rs 860, it can be expected to head towards its interim top of Rs 1,040 levels
"Positional traders can buy in this counter with a stop below Rs 850 for a target of Rs 1,037," said Mohammad.
Vaishali Parekh, senior
technical analyst, Prabhudas LilladherVoltas| Buy| Target price: Rs 635| Stop loss: Rs 555The stock has indicated a higher bottom formation
pattern in the daily chart taking support at Rs 530 which is also where the 50DMA moving average was lying
It has bounced back strongly to move past the 200DMA moving average to indicate a breakout
The chart looks attractive and the RSI is also in a positive
"With decent consistent volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 635 and a stop loss of
Rs 555," Parekh said.
Dabur| Buy| Target price: Rs 490| Stop loss: RS 420The stock has indicated a higher bottom formation pattern in the
daily chart taking support at the significant 34WMA and 50DMA moving averages
It has given a tremendous bounce to signify strength and potential to rise further in the coming days
With the RSI on the rise and also the MACD indicating a positive bias, the chart looks attractive
"With good volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 490, keeping a stop loss of Rs 420,"
Company| Buy| Target price: Rs 1,350| Stop loss: Rs 1,190The scrip has provided a breakout from the ascending triangular pattern, a bullish
The momentum indicator is well into buy mode, both on the daily as well as weekly charts, hence the stock can be bought for the target of Rs
1,350 with a stop loss of Rs 1,190.
Siemens| Buy| Target price: Rs 1,000| Stop loss: Rs 940The stock has provided a breakout from a
symmetrical triangular pattern which is a bullish reversal pattern
The momentum indicator is also well in buy mode.
Dabur| Buy| Target price: Rs 466| Stop loss: Rs 432The stock has provided a breakout from
an inverse head and shoulders pattern which is a bullish reversal pattern
The previous rise was an impulse i.e
a five wave rising pattern, hence with this breakout, another impulse on the way up seems to have ensued
The momentum indicators are well in the buy mode.
Gajendra Prabu, Technical Research Analyst, HDFC SecuritiesAditya Birla Fashion and Retail
| Buy| Target price: Rs 227| Stop loss: Rs 187 The stock has validated the Doji candle pattern formed on the weekly chart in the previous
It has been forming higher tops and higher bottoms in a smaller degree which is bullish continuation structure
Apart from this, the breakout of a contracting triangle has been witnessed which is a strong bullish development
In addition, the price is placed well above the all key moving averages of 21, 50 200 Day EMAs; this could add strength to bulls
"Traders may look to buy the stock at the current market price and add in dips to Rs 195 for the upside target of Rs 227
Place a stop loss at Rs 187 on the closing basis," Prabu said.
NIIT Technologies| Buy| Target price: Rs 1,275| Stop loss: Rs 1,060 The firm
which could ideally move to around Rs 1,275 which is 61.8 per cent retracement levels of last falling leg
It is rebounding with strong positive divergence in RSI which could push the price further up
In addition, the price has formed an engulfing bull candle on weekly chart which is bullish reversal formation
"Traders may look to buy the stock at the current market price and add in dips to Rs 1,100 for the upside target of Rs 1,275, keeping a stop
loss at Rs 1,060 on the closing basis," Prabu said.
