NEW DELHI: Spooked by fresh Sino-US trade war tensions and Chinas soft GDP growth data for second quarter, investors turned cautious on Dalal Street on Monday.Last week, equity benchmarks Sensex and Nifty gained over 2 per cent on the back of a fall in crude prices, earnings boost and a recovery in the rupee.
Experts believe the general market setup continues to be bullish, but the Nifty50 may consolidate for some more time.With June quarter earnings season in full swing, the market will continue to see stock-specific actions.
The focus has shifted to management commentaries and guidance for the coming months, making fund managers to review and reshuffle their portfolios, says Rahul Sharma, Senior Research Analyst, Equity99."In the near future, the market may see some profit booking.
We expect the short-term trend to reverse only after the Nifty slips below its crucial support at 10,999 while a key resistance is seen around the 11,100 mark, Sharma said.Based on various brokerage recommendations, here are 10 stock strategies that can potentially deliver gains over the next three weeks.Vinay Rajani, Technical Analyst, HDFC SecuritiesGAIL | BUY | Target price: Rs 375 | Stop loss: Rs 342The stock recently broke out of the consolidation range, in which it traded for last 23 weeks.
The upper band of the consolidation range was at Rs 355, which was taken out with good volumes this week.
The stock has taken support at the 200-DMA and recently bounced back sharply with good volumes.
The primary trend of the stock is bullish with higher tops and higher bottoms.
The scrip is currently placed above all important moving average parameters, indicating a bullish trend on all time frames.
The oscillators and indicators are indicating a bullish setup.MARUTI | BUY | Target price: Rs 9,900 | Stop loss: Rs 9,200This stock has surpassed the crucial resistance of its previous top at Rs 9,350, registered on April 11, 2018.
It is hovering around its all-time high mark and has been contributing in the current Nifty rally.
The short-term moving averages are trading above long-term moving averages, indicating a bullish setup.
The oscillators and indicators are also signalling a bullish setup for the stock.
It has broken out of the bullish flag pattern on the monthly chart, indicating continuation of an uptrend.Jay Anand Thakkar, Assistant Vice-President for Equity Research, Anand Rathi Shares and Stock BrokersIDBI Bank | BUY | Target Price: Rs 74 | Stop loss: Rs 51IDBI Bank has formed an inverse head and shoulders pattern on the daily chart.
The momentum indicator has seen bullish crossover too, which is a positive sign for the short term.
We recommend buying IDBI for a short term target of Rs 74 with a stop loss at Rs 51," Thakkar says.YES Bank | BUY | Target Price: Rs 401 | Stop loss: Rs 357This stock has seen a breakout from the rounding bottom pattern with a bullish crossover on momentum indicator MACD, which is a positive sign for the short term.
The stock has retested the pattern and reversed from the same, which indicates that there is a good buying interest at lower levels.Larsen Toubro | BUY | Target Price: Rs 1,370 | Stop loss: Rs 1,265LT has reversed from the lower end of the falling channel and started forming higher tops and higher bottoms, which is a positive sign for the short term.
The daily MACD has also turned positive, thus confirming a trend reversal.5 stocks to bet on15 Jul, 2018By Milan Vaishnav, CMT, MSTADomestic equities scaled record high in the week gone by on the back of sharp fall in crude prices, earnings optimism and recovery in rupee.
The SP BSE Sensex gained 2.47 per cent during the week while the broader Nifty50 index of the National Stock Exchange (NSE) went home with 2.28 per cent gains.Here's a look at the top five stocks which are likely to gain in the week ahead - Bajaj Holdings | BUY | Target Price: Rs 3,20015 Jul, 2018The stock broke out on the upside from its multiple resistance area of Rs 2,900 - Rs 2,978 and marked high at Rs 3,203.
It suffered a throwback and pared all its gains.
Presently, it has pulled back a bit and remains in a symmetrical triangle formation.
Few signals have emerged which point towards likely resumption of upmove.
On-Balance Volume OBV has formed a fresh high on both time frame charts which is bullish.
RSI remains neutral.
Weekly MACD stays in continuing buy mode.
The stock is seen improving its relative momentum and strength against general market.Dalmia Bharat | BUY | Target Price: Rs 2,55015 Jul, 2018The stock failed to clear the resistance zone of Rs 3,090 - Rs 3,130 area.
It saw a corrective retracement and traded in a falling channel as it tested lows in the Rs 2,150 - Rs 2,180 zones.
The stock has attempted to form a base in this area.
Few signals have emerged which point towards stock likely confirming a base at current levels.
The Daily MACD stays in continuing buy mode.
RSI remains neutral and shows no divergence against the price.
A buy signal over Stochastic has emerged on the Weekly Chart with a bullish divergence against the price.
The stock may see some upward revision in the price over coming days.
Any move below Rs 2,180 will be negative for the stock.Gail (India) | BUY | Target Price: Rs 37215 Jul, 2018After remaining under corrective decline for the major part of the year 2018, the stock has attempted to form a base in the Rs 310 - Rs 325 zones and has attempted to reverse its trend.
The stock moved past its multiple resistance area that fall between Rs 340 - Rs 351 zones.
The Weekly MACD remain in continuing buy mode.
The Weekly RSI has marked a fresh 14-period high which is bullish.
The stock has ended above its upper Bollinger band and this signals a likely breakout.
The Bollinger band remain 42 per cent narrower-than-normal and this further increase the possibility of a sharp move in prices.
Any move below Rs 339 will be negative for the stock.Blue Star | BUY | Target Price: Rs 73515 Jul, 2018The stock failed to break out of a sharp ascending triangle that it formed in the early part of 2018.
After failing to clear the resistance zone of Rs 820 - Rs 840 area, the stock remained under sharp corrective decline moving below all its moving averages.
It has attempted to form base in the Rs 630 - Rs 650 zones and has marked a potential bottom.
MACD remains in continuing buy mode.
The stock closed above upper Bollinger band on the Daily Charts but saw a temporary pullback inside the band.
The Stock has taken support at the 100-Period Moving Average on the Weekly Chart.
A buy signal has emerged on the Stochastic on the Weekly Chart with a bullish divergence against the price.
While some pullback in prices can be expected, any move below Rs 640 will be negative for the stock.Milan Vaishnav, CMT, MSTA, Gemstone Equity ResearchBajaj Holdings Investment | BUY | Target Price: Rs 3,200 | Stop loss: Rs 2,930The stock broke out on the upside from its multiple resistance area at Rs 2,900- Rs 2,978 and marked a high at Rs 3,203.
It suffered a throwback and pared all the gains.
Currently, the stock has pulled back a bit and remains in a symmetrical triangle formation.
Few signals have emerged which point towards likely resumption of the upward move.
On balance volume or OBV has formed a fresh high on both the timeframe charts which is bullish.
RSI remains neutral.
The weekly MACD remains in continuing buy mode.
The stock is improving its relative momentum and strength against general market.GAIL | BUY | Target Price: Rs 372 | Stop loss: Rs 340After remaining under corrective decline for the major part of the year 2018, the stock has attempted to form a base in the Rs 310-325 zone and has attempted to reverse its trend.
The stock moved past its multiple resistance area that fall in the Rs 340-351 zone.
The weekly MACD remains in continuing buy mode.
The weekly RSI has marked a fresh 14-period high, which is a bullish indication.
The stock has ended above its upper Bollinger band and this signals a likely breakout.
The Bollinger band remains 42 per cent narrower-than-normal and this increases the possibility of a sharp move in prices.
Any move below Rs 339 will be a negative for the stock.Mazhar Mohammad, Chief Strategist Technical Research Trading Advisory, Chartviewindia.inMahindra Life Sciences | BUY | Target Price: Rs 690 | Stop loss: Rs 585This counter appears to have resumed its uptrend as it consolidated after around 20 per cent drop from the recent high of Rs 668.
Recent price behaviour is pointing towards a possible change in the larger trend of this counter.
In that case on resumption of rally, it should ideally head towards its logical targets placed around Rs 690 level.
In between, the Rs 620 level can be a hurdle and momentum shall pick up if it manages a sustainable close above this level.
Positional traders shall buy into this counter with a stop below Rs 585 on a closing basis.Sonata Software | BUY | Target Price: Rs 380 | Stop loss: Rs 307For the past couple of weeks, this counter appeared to be in a 100-point trading range between Rs 380 and Rs 280.
Last two sessions of fast-paced recovery is suggesting that this counter has hit a durable bottom at recent low of Rs 272 after breaching the lower boundary of its consolidation zone.
Hence, it can easily target towards upper end of the trading range.
Considering the fact that this counter has rallied around 20 per cent in two sessions, traders are advised to adopt a two-pronged strategy of buying at current prices and adding on declines around Rs 320 for a target of Rs 380.
Stop loss suggested for the trade is at Rs 307.Bharat Petroleum | BUY | Target Price: Rs 412 | Stop loss: Rs 370After a recent crash from the highs of Rs 430, this counter appears to have formed a strong base around Rs 360 and appears to have broken out of its narrow rangebound move between Rs 380 and Rs 360 kind of levels.
Hence, sustaining above Rs 375, this counter can be expected to head towards its logical target of Rs 412.
Stop suggested for the trade is Rs 370.(Views and recommendations given in this article are the analysts own and do not represent those of ETMarkets.com.
Please consult your financial adviser before taking any position in the stock/s mentioned.)