INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Third time lucky! The bulls on Dalal Street came out with flying colours for the third week in a row, with both the headline
indices shutting shop with handsome gains.
The SP BSE Sensex added 565 points, or 1.68 per cent, for the week gone by to settle at 34,192,
while the broader Nifty50 soared 149 points, or 1.44 per cent, to 10,480.
Sanjeev Zarbade, Vice-president for PCG Research at Kotak
Securities, says: “The SP BSE Sensex is seen closing firmly in the green with gains in excess of 1.5 per cent over the previous week to
close above the 34,100 level
The rally was driven by easing concerns over the possibility of US-China trade war.”
While geopolitical tensions in Syria pushed up crude
prices, domestic bond yields witnessed a sharp reversal
FPIs sold equities worth $172 million while DIIs bought stocks worth $469 million over the past five sessions.
Projection of a normal
monsoon in CY2018, a pickup in the investment cycle, industrial capex and improving demand added to the positive news
However, election-related uncertainty, rising crude prices, tepid GST revenues and talks of global trade disruptions are key challenges,
Zarbade said.
“In this backdrop, we expect FY2019 to be a volatile year for the Indian market
The investment themes we like include stocks dependent on rural demand, travel and leisure and consumer plays,” he said.
Based on various
brokerage recommendations, here are 12 stock strategies that can potentially deliver gains over the next three weeks.
Nandish Shah,
Technical/Derivative Analyst at HDFC SecuritiesSurya Roshni | BUY| Target Price: Rs 450 | Stop loss: Rs 405Surya Roshni saw a bullish
trendline breakout on Friday by closing above the downward sloping trendline, adjoining the highs of February 9, 2018 and April 4, 2018
The stock is currently trading above its 20, 50, 100 and 200 SMA, which indicates bullish setup for medium to long term charts
The momentum indicators and oscillators are showing strength on the counter.
Genus Power | BUY| Target Price: Rs 62 | Stop loss: Rs 53After
forming a double-bottom around the Rs 49-odd level, Genus Power reversed northwards to close at one month high on Friday with higher volumes
Few oscillators like RSI and KST have formed positive divergence during March
This means price levels were making lower bottoms and oscillators were making higher bottoms, indicating that dominance of bears were
The stock price is currently trading above its 5 and 20 DMA indicating bullish trend for the short term.
Vaishali Parekh, Research Analyst,
Technical Research, Prabhudas LilladherEscorts | BUY | Target Price: Rs 1,050 | Stop loss: Rs 905This stock has been consolidating for quite
a while around the Rs 922 level, where there was a strong resistance and currently has given a breakout above that level of Rs 922
It signifies strength and potential to rise further in the coming days
Also, the RSI has given a trend reversal to signal a buy in the stock
The chart looks attractive and with consistent volume participation witnessed, we recommend a buy in this stock.
Rashtriya Chemicals
Fertilizers | BUY | Target Price: Rs 90 | Stop loss: Rs 77This stock has witnessed a decent correction from the peak of Rs 111 and has
bottomed out at around Rs 72 levels to form a more or less double bottom formation pattern in the daily chart
It has seen a bounceback and indicated a breakout above the 50-DMA and the previous peak level of Rs 81.50 to signify a positive bias and
strength to move further upwards in the coming days.
Aditya Agarwala, Technical Research Analyst, Yes SecuritiesPersistent Systems | BUY |
Target Price: Rs 770-Rs 800 | Stop loss: 640On the weekly chart, Persistent Systems has turned upwards after taking support at the lower end
of the channel suggesting bullishness
A sustained trade above Rs 710 with healthy volumes can take it higher to levels of Rs 770-Rs 800
On the daily chart, the stock has resumed upward journey after forming a double bottom suggesting higher levels in the coming trading
RSI has formed a positive reversal confirming the bullishness.
Swati A Hotkar, Equity Technical Analyst - Research, Nirmal Bang
SecuritiesGufic Biosciences | BUY | Target Price: Rs 135-Rs 140 | Stop loss: Rs 115The weekly chart indicates that stock has given the
multiple resistance breakout of the Rs 120 level with good volumes
The stock is holding the strong momentum on upside and it is likely to extend its rally towards Rs 140 level
Momentum indicators such as RSI show a positive crossover.
Intellect Design Arena | BUY | Target Price: Rs 185 | Stop loss: Rs 164Daily line
chart indicates that stock has given the double top breakout of Rs 171-Rs 172 with good volumes
Momentum indicators such as RSI show a positive crossover
One may take a buy call for a target of Rs 185 with a strict stop loss at Rs 164.
Jamna Auto Industries | BUY | Target Price: Rs 96 | Stop
loss: Rs 82The weekly chart indicates that the stock has seen a breakout from the consolidation at Rs 82 level with good volumes
The stock is holding the strong momentum on upside and its likely to extend its rally towards Rs 96-100 levels
Momentum indicators such as RSI shows a positive crossover.
Mazhar Mohammad, Chief Strategist – Technical Research Trading Advisory,
Chartviewindia.inAshok Leyland | BUY | Target Price: Rs 167 | Stop loss: Rs 142This counter is in a strong uptrend and appears to have
resumed its rally post multi-week consolidation it slipped into after hitting a new lifetime highs in the month of turbulent March
Hence, as long as this counter sustains above Rs 143, one can look for a higher target of Rs 167 with a stop of Rs 142.
ACC | BUY | Target
Price: Rs 1,650 | Stop loss: Rs 1,495At a recent low of Rs 1,498, this counter appears to have registered a bottom as it tested major
support on long term charts
Besides, it has retraced 62 per cent of its last leg of rally from the lows of Rs 1,498–Rs 1,576 and appears to have posted a higher
bottom around Rs 1,520 from where it can resume its uptrend
In such a scenario it can eventually head higher to test its-200 Day Moving Average whose value is placed around Rs 1,656 level.
Godrej
Industries | BUY | Target Price: Rs 615 | Stop loss: Rs 550This counter is moving in a downward sloping channel with multiple touch points
for almost nine months now, and appears to have decisively cleared its critical near term resistance point of Rs 555 levels
Hence, sustaining above this level it should ideally head towards the upper boundary of the said channel whose value is placed around Rs
617.
Milan Vaishnav, CMT, MSTADalmia Bharat | BUY | Target Price: Rs 2,970 | Stop loss: Rs 2,780After peaking out in December 2017, this
stock has remained under corrective downtrend
Over the past couple of weeks, it has seen some attempt to bottom out after consolidating in the Rs 2,600-Rs 2,800 levels
The stock has attempted to move past 200-DMA
RSI remains neutral but is seen marking higher bottoms and move higher
MACD is seen moving towards positive crossover
A fresh buy signal over Stochastic has emerged with a bullish divergence against the price
The stock is likely to see an extended pullback over coming days.
DHFL | Buy | Target Price: Rs 570 | Stop loss: Rs 536The stock has taken a
minor double bottom support in the Rs 470-Rs 480 zones and has attempted to form a potential bottom again
It has managed to close a notch above its 200-DMA and is seen breaking out from a pattern resistance
RSI has marked a fresh 14-period high which is bullish
RSI is also seen breaking out of a pattern formation which is a strong sign
MACD remains in continuing buy mode
Upward revision in price over coming days cannot be ruled out.
(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.)
