INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Signals of more stimulus in China and improved US payrolls data rekindled risk appetite among investors helping Asian stocks
climb to seven-month highs on Monday.
Indian stocks took cue and rose in early trade, but a jump in crude oil prices and rupee's fall
against the US dollar proved a drag on the market
After jumping almost 180 points, Sensex traded with a nominal gain of 36 points at 38,898 around 10:15 am.However, analysts see
Based on various brokerage recommendations, here is a list of 10 stocks that can potentially deliver solid gains over the next 2-3 weeks
Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC securitiesIndiabulls Housing Finance| Buy| Target price: Rs 1060| Stop
loss: Rs 825Indiabulls Housing Finance is one of the strongest stocks in the market currently
It rallied smartly this week on the back of above average volumes and closed at a 5-month high
Technical indicators are giving positive signals as the stock trades above the 13-day and 50-day SMA
Intermediate momentum readings too are in the rising mode and not overbought.
Tata Motors| Buy| Target price: Rs 266| Stop loss: Rs 176Tata
Motors has rallied smartly in the last week on the back of huge volumes and has closed at a new 5-month high
In the process, the stock seems to have reversed its recent intermediate downtrend and now looks set for further upsides
Technical indicators are giving positive signals as the stock trades above the short-term (13 day SMA) and medium-term (50 day SMA) moving
Intermediate momentum indicators like the 14-week RSI too are in rising mode and not overbought.
Vikas Jain, Senior Research Analyst,
Reliance SecuritiesJSW Steel| Buy| Target price: Rs 335| Stop loss: Rs 277The stock has made multiple higher bottoms over the past few weeks
with strong momentum to close at five-week highs
The key technical indicators are trading above the average line and reversed from lower levels, confirming the uptrend over the next few
weeks.
Lupin| Buy| Target price: Rs 870| Stop loss: Rs 732The stock has made a double bottom near sub 730 level and bounced off sharply over
the past few days, closing above the short-term averages
The reversal in RSI from its neutral line-50 and positive crossover in averages are confirming a breakout from the current levels
In case of any decline, recent swing low will act as a strong reversal point for the stock
Jay Thakkar, AVP Equity Research, Anand Rathi Shares and Stock Brokers SAIL| Buy| Target price: Rs 64-70| Stop loss: Rs 57The stock has
provided a breakout from an inverse head and shoulder pattern which is a bullish reversal pattern
The stock has provided a buy crossover in its momentum indicator as well, indicating an uptrend from here on.
Aurobindo Pharma| Buy| Target
price: Rs 840| Stop loss: Rs 770Auro Pharma has provided a breakout from the triangular pattern with a buy crossover on the daily as well as
The Index has been forming higher tops and higher bottoms on the daily charts which is a positive sign in the short-term.
Rajesh Bhosale,
technical analyst, Angel BrokingUltraTech Cement| Buy| Target price: Rs 4,610| Sto ploss: Rs 3975The entire cement pack has been buzzing
since last few days and this stock, too, has broken above its crucial resistance at Rs 4,150, confirming a bullish breakout
The said resistance zone previously acted as strong supply zone for more than five times in the last six months and a breakout above the
same indicates a change in polarity
In addition, the volume activity has been decent in the recent past as per the placement of RSI on the daily chart.
Federal Bank| Buy|
Target price: Rs 107| Stop loss: Rs 94.40In the last few weeks, this stock has been an outperformer and every small dip in it has been
On the weekly chart, the stock prices have confirmed a classical bullish cup and handle pattern breakout
The said breakout is supported with a strong bullish candle
In addition, the momentum indicator RSI reading is at 67 with a positive crossover which points out for a positive breath in the stock
Mustafa Nadeem, CEO, Epic ResearchDHFL| Buy| Target price: Rs 189| Stop loss: Rs 149A Bullish Flag Breakout is seen in the stock which is a
bullish continuation pattern
A breakout from rounding bottom is also seen in the stock that indicates an uptrend may remain in place for the coming few days.
UPL| Buy|
Target price: Rs 985| Stop loss: Rs 920After some uptrend, this stock has seen a consolidation recently
The 20 days moving average has been working well in providing it important support and recent pullback gives the opportunity to enter in
Please consult your financial advisor before taking any position in the stock/s mentioned.)
