INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Volatility was the only constant in the domestic equity market during the week gone by, but thankfully both the indices ended
The 30-share Sensex gained 0.86 per cent while the 50-share Nifty added 0.85 per cent.
While easing oil prices and good growth vibes in the
economy took the Sensex 416 points higher, global issues such as political turmoil in Italy and renewed trade war fears kept investors on
the tenterhooks.
Going into a new week, investors will be keenly watching the progress of monsoon and the outcome of RBI's second
Director, Hem Securities.
He said Nifty has resistance around 10,900 level, which is also the previous top, and a strong support at 10,500
Chances are high that these levels will be tested going forward
Based on various brokerage recommendations, here are 10 stock strategies that can potentially deliver good gains over the next three
Price: Rs 91 | Stop loss: Rs 77This counter appears to have formed a bottom at the recent low of Rs 71, as it registered a reversal
formation on huge volumes
After a brief rally, which was followed by consolidation for a couple of days, it appears to have resumed its upward move
In that scenario, it can be expected to test its immediate top of Rs 90
Hence, traders should buy into this counter with a stop below Rs 77 on closing basis for a target of Rs 91.
Zee Entertainment | BUY | Target
Price: Rs 590 | Stop loss: Rs 540This counter appears to be trading in a broader range between Rs 600 and Rs 545
As it has approached the lower-end of the trading range once again, it is attracting some buying interest around the Rs 545 mark
Hence, positional traders should make use of this opportunity to go long for a target of Rs 590 with a stop loss of Rs 540.
Hindalco | BUY |
Target Price: Rs 265 | Stop loss: Rs 226This counter appears to be consolidating in a 25-point range for the past couple of weeks
It can be on the verge of a breakout as the magnitude of intraday price range is increasing on rallies from lower-end of consolidation range
Hence, in anticipation of such a breakout, traders can create long positions with a stop below Rs 226 on closing basis
Once it manages a sustainable breakout above Rs 248 levels, then it can initially target Rs 265.
Vaishali Parekh, Research Analyst,
Technical Research, Prabhudas LilladherCholamandalam Finance | BUY | Target Price: Rs 1,740 | Stop Loss: Rs 1,460This stock has formed a
higher bottom on the daily chart, taking support at Rs 1,465 and has regained strength currently by moving past the significant 50-DMA level
and also the 34-WMA and we anticipate further more upward movement in the coming days
The RSI has recently shown a trend reversal and has maintained a positive bias and with good volume activity witnessed, we recommend a buy
in this stock.
Nagaraj Shetti, Technical Research Analyst at HDFC SecuritiesGodrej Consumer Products | BUY | Target Price: Rs 1,250 | Stop
loss: Rs 1,105This consumer durables stock has been in an intermediate uptrend over the last many months
The stock prices have witnessed a broad-based buying, as per the positive sequence of higher tops and bottoms
After showing a weakness, amidst a range movement in the previous few weeks, the stock price has witnessed a sharp upside breakout recently
Volume is supporting an upside breakout, and weekly momentum oscillator like RSI is showing positive indication
One may look to buy at Friday's CMP (Rs 1,163.90) and add more on dips up to Rs 1,125, and hold for the upside target of Rs 1250, over the
Place a stop loss at Rs 1105.
Hero MotoCorp | BUY | Target Price: Rs 3,950 | Stop loss: Rs 3,425This two-wheeler automobile stock was in a
downtrend over the last 7-8 weeks, before showing a bottom reversal recently
The stock price has witnessed a sharp upside bounce in the previous week from the swing low of Rs 3,400 levels, and witnessed follow-through
We observe a formation of an important bottom reversal pattern as per weekly timeframe
Volume is supporting an upside bounce and the momentum oscillator is signalling a trend revival
Buying can be initiated in Hero MotoCorp at Friday's CMP (Rs 3,622), and add more on dips down to Rs 3500, and hold for the upside target
of Rs 3,950 for the next 3-4 weeks
Place a stoploss at Rs 3,425.
Milan Vaishnav, CMT, MSTAMaruti Suzuki India| BUY | Target Price: Rs 9,250 | Stop loss: Rs 8,620After testing
the high of Rs 9,966 at the end of 2017, the stock has seen a corrective decline and formed subsequent lower tops
Recently, it tested the low of Rs 8,255 and, since then, it has attempted to form a base and pull up
RSI has marked a fresh 14-period high and is seen inching higher, forming higher bottoms
It also shows a bullish divergence against the price
The daily MACD remains in continuing buy mode
A strong bullish candle has emerged
It is significant as it has emerged near the 200-DMA support area
A buy signal has emerged on the weekly chart, showing a bullish divergence against price.
Godrej Consumer Products | BUY | Target Price: Rs
1,230 | Stop loss: Rs 1,110This stock is attempting to break out of a large ascending triangle formation
After peaking out at Rs 1,119, the stock has headed nowhere, even as it faced resistance at this level and formed a couple of higher tops
The weekly RSI is seen breaking out of a formation and has marked a fresh 14-period high
The weekly MACD, too, has reported a positive crossover in a bullish indication
The On-Balance Volume or OBV has reported a fresh high as well
Prices have closed above the upper Bollinger band on both weekly and daily charts
A temporary pullback inside the band cannot be ruled out but subsequently, a breakout is possible.
Aditya Agarwala, Technical Research
Analyst, YES Securities (India)Equitas Holdings | BUY | Target Price: Rs 182-Rs 190 | Stop loss: Rs 152On the weekly chart, Equitas Holdings
has resumed its uptrend after testing the neckline of the wedge pattern placed at Rs 155
A sustained trade above Rs 170 with healthy volumes can extend the uptrend in the coming trading sessions
On the daily chart, it is forming higher highs and higher lows affirming the bullishness
RSI has turned upwards after taking support at the previous support level of Rs 40 level i.e
lower-end of the bull territory indicating a range shift in favour of the bulls.
AU Small Finance Bank | BUY | Target Price: Rs 750-Rs 775 |
Stop loss: Rs 670On the daily chart, AU Small Finance Bank is on the verge of a breakout from Triangle pattern placed at Rs 707
Breakout and sustained trade above this resistance can extend the uptrend
Further, the stock has been forming an inverted Head Shoulders pattern affirming bullishness building up in the stock
Neckline of the pattern is placed at Rs 741, breakout with volumes can extend the uptrend
RSI has turned upwards from the lower-end of the bull territory suggesting higher levels in the coming trading sessions.
(Views and
Please consult your financial adviser before taking any position in the stock/s mentioned.)
