INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Optimism in global markets on growing prospects of a trade deal between the US and China got rubbed off on Indian market on
Monday, helping equity benchmarks continue their winning streak for the fourth consecutive session.
However, an uptick in global crude oil
Besides concern over weak global economic growth remains an overhang
Around 10 am, the BSE Sensex was up 60 points at 36,137, while Nifty traded 80 points higher at 10,860
Global sentiment, crude price movement and macroeconomic data will remain the most important triggers for the domestic market during the
Amid all this unpredictability, analysts see opportunities on select counters
Based on various brokerage recommendations, here is a list of 10 stocks that can potentially deliver gains over the next two to three
weeks:
Aditya Agarwala, Technical Analyst, YES SecuritiesWABCO India | Buy | Target price: Rs 7,400-7,650 | Stop loss: Rs 6,725On the daily
chart, WABCO India is on the verge of a breakout from the neckline of an ascending triangle pattern placed at Rs 7,050
A breakout and sustained trade above this neckline can extend the upward move to Rs 7,400-7,650 levels
The RSI has turned upwards after taking support at the neutral zone of 50 and has formed a positive reversal on the daily chart, suggesting
bullishness on the counter
"The stock can be bought in the Rs 6,990-7,000 range for targets of Rs 7,400-7,650, with a stop loss below Rs 6,725," said Agarwala.
LT
Infotech | Buy | Target price: Rs 1,860-1,920 | Stop loss: Rs 1,645On the daily chart, LT Infotech is on the verge of a breakout from a flag
pattern, suggesting the resumption of uptrend on cards
Further, stock has taken support at the 38.2 per cent Fibonacci retracement level and turned higher, affirming bulls gaining momentum
A sustained trade above Rs 1,740 will trigger a breakout from the Flag pattern taking it higher to levels of Rs 1,860-1,920
Moreover, the RSI has turned upwards from the 50-level after forming a positive reversal affirming bullishness
Vaishali Parekh, Senior Technical Analyst, Prabhudas LilladherCyient | Buy | Target price: Rs 665 | Stop loss: Rs 594The stock has
maintained a strong base around the Rs 595 level, taking support in it on several occasions
It has formed a positive candle pattern in the daily chart to signify strength and has the potential to rise further in the coming days
The RSI has indicated a trend reversal to improve the bias and signal a buy
"With the charts looking attractive and decent volume participation, we recommend a buy on this stock for an upside target of Rs 665,
keeping a stop loss of Rs 594," Parekh said.
Century Textiles | Buy | Target price: Rs 980 | Stop loss: Rs 880The stock has made a bottom
around Rs 872 level, which was at the significant 50DMA moving average, and has produced a positive candle to indicate improved bias and
strength for further upward move
The RSI has indicated a trend reversal to give a buy signal and made the chart look attractive
"With favourable indicators and good volume participation, we recommend a buy in this stock for an upside target of Rs 980, keeping a stop
loss of Rs 880," Parekh said.
Vinay Rajani, Senior Technical Analyst, HDFC SecuritiesKalpataru Power Transmission | Buy | Target price: Rs
430 | Stop loss: Rs 350The stock has risen more than 3 per cent with a significant jump in volumes
It has witnessed a breakout from the horizontal channel on the daily chart and has also seen a breakout from the consolidation on the daily
It has been forming higher tops and higher bottoms
The stock has been sustaining above super trend indicator on the daily chart.
Delta Corp | Buy | Target price: Rs 280 | Stop loss: Rs 230A
downward sloping trend line breakout was seen on the weekly chart along with a breakout from the consolidation, which held for last many
Volumes have been improving gradually along with price rise
A bullish moving average and oscillators setup on the daily charts indicate strength in the uptrend.
Coromandel International | Buy | Target
price: Rs 499 | Stop loss: Rs 420The stock has seen an inverse head and shoulder breakout on the weekly charts and is forming higher tops
and higher bottoms on the daily and weekly charts
Volumes have been gradually improving along with the price rise
The stock price has surpassed the resistance from its 50-week EMA as well as the resistance of its 200-DMA
Research, Anand Rathi Shares and Stock BrokersConcor | Buy | Target price: Rs 700 | Stop loss: Rs 645The stock has seen a clear increase in
volumes with a breakout from the symmetrical triangular pattern
The momentum indicator has also seen a clear buy crossover on the daily as well as weekly charts
The stock has also seen a breakout from the falling channel, which is like an icing on the cake.
Sun TV Network | Buy | Target price: Rs 640
| Stop loss: Rs 600The stock has formed a Hammer candlestick pattern on the daily chart with a breakout from the double bottom pattern as
The stock has reversed from quite an oversold territory and seen some short covering as well
Hence, the probability of an upside is quite strong, the analyst said.
TVS Motor Company | Buy | Target price: Rs 590 | Stop loss: Rs 553The
stock has provided a breakout from the ascending triangular pattern, retested the same and has reversed well from the lower levels
Please consult your financial adviser before taking any position in the stock/s mentioned.)
