INSUBCONTINENT EXCLUSIVE:
cues.
Asian shares plunged, as the spectre of trade war returned after the US President said fresh tariffs on China are a possibility
The rupee, too, failed to hold the strength it had shown on Friday and slipped amid dollar buying by banks and importers
At 9:30 am, the domestic unit traded 28 paise lower at 73.86.
However, amid all the uncertainty and volatility, analysts said there are
stock-specific opportunities across sectors
Based on various brokerage recommendations, we compiled a list of top 10 stocks that are expected to log gains over the next three
Buy| Target price: Rs 2,420| Stop loss: Rs 2,180This stock formed a bullish inverse head and shoulders pattern, which is quite a positive
signal for the short term
Target price: Rs 146| Stop loss: Rs 128This stock seems to have completed a clear Five Waves falling structure and has formed a positive
weekly close, which is quite positive for short-term trend
Stop loss: Rs 69This stock has formed a clear inverse head and shoulders pattern, which is quite positive for the stock in the short term
Chartviewindia.inCummins India| Buy| Target price: Rs 727| Stop loss: Rs 657This counter appears to have made a short-term bottom around Rs
642 level ahead of the market and formed a Bullish Engulfing pattern on the weekly charts, perhaps pointing towards the beginning of a
800 and test its 200-day moving average
Therefore, it looks like a good opportunity for positional traders to buy it for an initial target of Rs 727, with a stop of Rs 657.
ITC|
Buy| Target price: Rs 297| Stop loss: Rs 260Recent correction almost pushed this stock back to where it had started a decent upward move in
This proves a better entry point once again
Hence, sustaining above the recent lows if the pullback materialises in the broader market, then this counter shall retrace at least 62 per
cent of its entire fall from the recent high of Rs 322
Positional traders should buy the stock for a target of Rs 297 with a stop at Rs 260.
State Bank of India| Buy| Target price: Rs 290| Stop
loss: Rs 257This counter appears to have bottomed out around Rs 253 on September 21 itself, and for last couple of sessions, it was
consolidating around Rs 260 level
Hence, positional traders are advised to make use of this consolidation as on any pullback attempt, it can initially target Rs 280 level and
thereafter rally towards Rs 290 level
The stop loss for this trade should be at Rs 257.
Gajendra Prabhu, technical research analyst, HDFC SecuritiesICICI Bank| Buy| Target price:
Rs 350| Stop loss: Rs 300This stock has validated the Doji candle pattern formed on the weekly chart in the previous week (moved above
It has witnessed a trendline breakout, which is a bullish development
The price is on course to make higher highs and could possibly make a new lifetime high, as the stock is in the internals of Wave V
In addition, the stock is placed well above the 21, 50 200-day EMAs, which can add strength to the bulls
ideally make a new higher high above the previous swing high of Rs 205
The stock is rebounding from 75 per cent retracement of last rising leg started from Rs 174 to Rs 205
In addition, the stock has formed a hammer candle on the weekly chart, which is a bullish reversal formation
Mahindra| Buy| Target price: Rs 840| Stop loss: Rs 715This stock has seen a steep correction in last one month from the peak of Rs 976 to
show signs of bottoming out at Rs 715-720 levels
Currently, it is making a positive bullish candle formation to signify strength
It has the potential to trigger further upside movement in the coming days
The RSI has also entered the highly oversold zone and shown a trend reversal to give a buy signal
bottom out at around Rs 475 and has seen a bounce to signify upside movement with strength
The charts look very attractive and have the potential to scale up to Rs 555-560 levels in the coming days
The RSI has hit the oversold zone and indicated a trend reversal to give a buy signal
