INSUBCONTINENT EXCLUSIVE:
NEW DELHI: There seems to be no Monday blues for Indian equities as positive global sentiment played ball.
Asian shares reached near their
nine-month highs on renewed hopes of US-China trade talks after US Treasury Secretary Steven Mnuchin's positive comments
Besides, strong Chinese export data soothed concerns of an economic slowdown to an extent
However, the small range of gains reflected a cautious undercurrent in the market due to election politics and the ongoing fourth-quarter
Around 9:35 am, the BSE Sensex was 50 points, or 0.13 per cent, up at 38,816, while the Nifty was higher 21 points, or 0.18 per cent, up at
Analysts are of the view that one should follow a stock-specific approach in such a market
Based on some analysts' recommendations, below are 10 stocks that can give solid returns in coming 2-3 weeks
Vaishali Parekh, senior technical analyst at Prabhudas LilladherDilip Buildcon| Buy| Target price: Rs 725| Stop loss: Rs 610The stock has
been stagnant and consolidating around Rs 620
It currently has produced a positive bullish candle to signify strength and has made the chart look attractive for further upsides
The RSI has indicated a trend reversal to signal a buy
"With good volume participation, we recommend a buy in this stock for an upside target of Rs 725, keeping a stop loss at Rs 610," said
Parekh.
Maruti Suzuki| Buy| Target price: Rs 7,700 | Stop loss: Rs 7,150The stock has been consolidating for quite some time between Rs
7,100 and Rs 7,200 and has given a breakout with a positive bullish candle pattern to signify strength
It appears the stock has the potential for fresh upward movement
The RSI has been on the rise and with favourable indicators supporting our view, the chart looks very attractive
Mazhar Mohammad, Chief Strategist – Technical Research Trading Advisory, Chartviewindia.in Ashok Leyland| Buy| Target price: Rs 107|
Stop loss: Rs 90This counter appears to have resumed its upmove after retracing 62 per cent of its last leg of rally from the lows of Rs
As momentum in this counter is picking up with a close above its interim swing high of Rs 95, it can ideally head to test its 200-day moving
average, placed around Rs 107
Dabur India| Buy| Target price: Rs 427| Stop loss: Rs 398This counter appears to have found a near term bottom around Rs 399 as it has been
moving almost flat for the last 9 sessions - in a narrow range of Rs 408–399
Hence sustaining above Rs 400, it can register a decent pullback rally and try to test its interim top placed around Rs 430 levels
"Positional traders are advised to buy into this counter for a target of Rs 427, with a stop loss at Rs 398," Mohammad said.
Jay Thakkar,
AVP Equity Research, Anand Rathi Shares and Stock BrokersTVS Motor Company| Buy| Target price: Rs 515| Stop loss: Rs 480The stock has
started to form higher tops and higher bottoms on the daily charts and the ascent prior to the previous rise was an impulsive one, hence
another five wave rise is expected from current levels
HDFC Bank| Buy| Target price: Rs 2,350| Stop loss: Rs 2,195The stock seems to have completed wave 4 correction on the daily chart and the
weekly momentum indicator MACD is still into buy mode, hence wave 5 up is expected from here on
Emami| Buy| Target price: Rs 430| Stop loss: Rs 385The stock has provided a breakout from the downtrend line resistance with a clear buy
crossover in its momentum indicator MACD on the daily as well as weekly charts.
Nagaraj Shetti, Senior Technical Derivative Analyst, HDFC
securitiesMaruti Suzuki| Buy| Target price: Rs 8,000| Stop loss: Rs 6,880The stock price, as per the weekly chart, appears to have bottomed
We observe a sharp upmove in the stock price after forming a higher bottom in the previous week
Last week, there was an upside breakout of a triangle type pattern, and the stock price closed above Rs 7,150
The overall volume and momentum oscillators also show confirmation of present sharp upmove.
Lupin| Buy| Target price: Rs 905| Stop loss: Rs
785The downtrend in this stock appears to have been over
The recent upside bounce in the stock price could be considered as a bottom reversal for the near term
There is a multiple bottom type formation at Rs 720-725 levels, which is a positive indication
Weekly 14 period RSI is signaling that the upside momentum in the stock price could continue for coming weeks.
Vikas Jain, Senior Research
Analyst, Reliance SecuritiesAjanta Pharma| Buy| Target price: Rs 1,120| Stop loss: Rs 985The stock has formed a base in the range of Rs
980-1,000 levels and witnessed positive momentum over the past few days
Major technical indicators are positively poised above their averages lines
The stock is expected to come out of the narrow range soon and will rebound upwards from current levels.
Mahindra Mahindra| Buy| Target
price: Rs 750| Stop loss: Rs 625MM has completed his corrective phase retracing 38.2 per cent from its high forming a low at 615 levels and
witnessed positive momentum over the past few weeks
Positive cross-over in RSI and MACD is also signaling strength in the stock and in favor of a break-out
(Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com
Please consult your financial advisor before taking any position in the stock/s mentioned.)
