INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Snapping a losing stream of two consecutive sessions, equity benchmarks Sensex and Nifty saw a positive opening on Monday after
its Asian peers rebounded amid geopolitical concerns around Saudi Arabia, Italy and Brexit.
A fresh spell of buying across select bank and
financial stocks lifted the market
But IT, auto, metal and telecom heavyweights remained subdued.
The outlook for the broader market remains uncertain, but analysts see
stock-specific opportunities across sectors
Based on various brokerage recommendations, here are top 12 stocks that are expected to log gains over the next three weeks
Aditya Agarwala, Technical Research Analyst, YES Securities (India)Gujarat Fluorochemicals| Buy| Target price: Rs 935-980| Stop loss: Rs
860On the weekly chart, Gujarat Fluorochemicals has broken out of a triangle pattern neckline placed at Rs 886, triggering resumption of a
Moreover, a sustained trade above Rs 892 with healthy volumes can take the stock higher to Rs 935-980 levels
The RSI has turned upwards after taking support at the lower end of the bullish zone i.e
47 level and has formed a positive reversal, suggesting bullishness on the counter
Technologies| Buy| Target price: Rs 1,300-1,360| Stop loss: Rs 1,200On the weekly chart, NIIT Technologies has taken support at the 38.2 per
cent Fibonacci retracement level and turned upwards suggesting bullishness
On the daily chart, it has broken out of a channel pattern indicating higher levels in the coming trading sessions
The RSI has turned upwards after forming a positive divergence suggesting higher levels in the coming trading sessions
James, chief investment strategist, Geojit Financial ServicesFederal Bank | Buy| Target price: Rs 89-93 | Stop loss: Rs 75Having fallen over
47 per cent from record peak seen 12 months back, this stock is back into the primary uptrend after having turned from the 50 per cent
Ideally Rs 89, the 200 DMA, level can be set as the target with a stop loss placed below Rs 75.
Bank of Baroda| Buy | Target price: Rs 107|
Stop loss: Rs 97The selling spree is showing several signs of losing steam, and a reversal attempt is in play supported by positive
Stop loss: Rs 1,150The stock has bottomed out at around Rs 1,080 level after the decent correction and has bounced back currently to just
move past the significant 200-DMA, indicating a positive bias and has strength and potential to carry on the momentum still further upside
"The RSI has recently indicated a trend reversal and has signalled a buy and with good volume participation witnessed, we recommend a buy in
Stop loss: Rs 1,480This stock has taken support near the significant 200DMA moving average which lies near Rs 1,515 level and has witnessed
a bounce back to indicate strength and the revival is anticipated to continue still further upside
technical research trading advisory, Chartviewindia.in Power Grid Corporation of India| Buy| Target price: Rs 203 | Stop loss: Rs 185This
counter is displaying a lot of strength as it registered two positive closes when the entire market was under fire in last two sessions
Besides, its closing price is almost flat around Rs 188 in last three weeks on the weekly chart
This is clearly pointing out that bulls are reluctant to give up their bets on this counter for reasons best known to them
Hence, on a pull back its initial targets can be Rs 203
levels for last seven sessions, that too, after a vertical fall from the highs of Rs 397 for last five weeks
This kind of price behaviour may be suggesting that selling might have dried up and hence a relief can be expected as long as this counter
Shetti, technical research analyst, HDFC SecuritiesAdani Enterprises | Buy | Target price: Rs 188 | Stop loss: Rs 154After witnessing a
sharp weakness in the month of September 2018, the stock price has shifted into a smart upside bounce in the last couple of weeks
A decent bounce in last few sessions is indicating a near-term bottom reversal for the stock price
The weekly 14-period RSI is showing a positive indication, which is suggesting a continuation of upside momentum for near term
Volume rose in the last two weeks, in line with the upmove in the stock price
265The downtrend in this metal stock seems to have completed
After showing a bullish hammer type candlestick pattern in the previous week, the stock price has witnessed a sharp upside bounce in last
This pattern is signalling an upside reversal in the stock price
We also observe a formation of higher bottom formation at Rs 265, compared with the last bottom of July 2018
Volume and momentum oscillators are showing positive indications for the stock price ahead
Shares and Stock BrokersSun Pharmaceutical Industries| Buy| Target price: Rs 640| Stop loss: Rs 590This stock has closed in the positive
territory in the last trading week and with that, a reversal from downside is quite likely
A minimum retracement level comes to Rs 640
The stock has also reversed well from the lower end of the falling channel
Wipro| Buy| Target price: Rs 340| Stop loss: Rs 313The stock seems to have formed a Wave 4 on the daily charts and Wave 5 up seems to have
The stock has also provided a breakout from the falling channel and it has managed to close above it which is also a positive sign
The hourly momentum indicator has come into buy mode with a positive divergence.
