INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Equity benchmarks Sensex and Nifty started with decent gains on Monday, supported by a rise in shares of select heavyweights,
including Infosys, Sun Pharma, Kotak Mahindra Bank, HDFC twins and TCS.
Investor sentiment got a leg up after IT major Infosys last Friday
second-biggest economy may be starting to stabilise thanks to ramped-up stimulus from Beijing, which assuaged concerns of a global economic
While the market traded in the green, analysts said it is too early to say if the gains will sustain
They advised stock-specific positioning to maximise gains and minimise losses
Based on the recommendations of various analysts and brokerages, here is a list of 12 stocks that they say can potentially deliver gains
Vikas Jain, Senior Research Analyst, Reliance SecuritiesCadila Healthcare | Buy | Target price: Rs 255 | Stop loss: Rs 215This stock has
seen a sharp fall over the past 13 weeks from the high of Rs 353 and the cycle of the correction is likely to be completed
The stock has completed its 76.4 per cent retracement of the entire movement (Rs 127-560) near sub-Rs 230 and is expected to bounce back
Positive cross-over in RSI and a rise in Stochastic from its oversold zone are indicating a probable turnaround in the stock.
India Cements
| Buy | Target price: Rs 108 | Stop loss: Rs 89This stock has formed a double bottom near Rs 90 on the weekly charts and is trading higher
above the short-term averages
Major technical indicators on the weekly scale have bottomed out, signalling a near-term turnaround in the stock
Epic ResearchUnited Breweries | Buy | Target price: Rs 1,480-1,520 | Stop loss: Rs 1,335This stock is in a long-term uptrend while in the
short term it has seen sideways to corrective movement
It has taken very strong support at the 50-day, 100-day and 200-day SMAs
With that, it coincides with long-term support trendline drawn from the troughs of Q417
Nadeem.
Manappuram Finance | Buy | Target price: Rs 150 | Stop loss: Rs 120This stock has been making a higher top and higher bottom
Recently, it has seen a strong bullish breakout, breaching and sustaining above its previous all-time highs
It is now supported by 50 and 100 days moving averages, placed in the zone of Rs 124-129
Nadeem said.
Rajesh Bhosale, Technical Analyst, Angel BrokingApollo Hospitals Enterprise | Buy | Target price: Rs 1,490 | Stop loss: Rs
1,290After the sharp rally, seen during May and June from Rs 1,112 to Rs 1,406 levels, this stock has seen consolidation in July
On the daily chart, after consolidating on 38.2 per cent retracement level of the above-mentioned rally, the stock seems to have resumed the
uptrend by confirming a descending triangle breakout on the line chart
The said breakout is supported with a good increase in volume and positive placement of major moving averages (50SMA and 200SMA)
In addition, momentum oscillator RSI, after forming a base around 50 levels, is signalling a fresh buy with its smoothened average
Intellect Design Arena | Buy | Target price: Rs 315 | Stop loss: Rs 262This stock has been an outperformer, continuously moving in a
On the daily chart, after consolidating for a month around its all-time high level, the stock has resumed the uptrend by breaking above of
The said breakout is witnessed with a good increase in volume and strong bullish candle
In addition, prices have closed above the higher range of Bollinger band, which suggests a strong trending rise in the near term, post its
"The prices are trading in unchartered territory and are well above major moving averages," said Bhosale
Let's go shopping15 Jul, 2019 As the domestic market opened on a positive breadth after a bear hammering session last weak
Here the top technical picks from Milan Vaishnav which would help investors earn good returns in the short term.
(Disclaimer: The opinions
expressed in this column are that of the writer
The facts and opinions expressed here do not reflect the views of www.economictimes.com.)? Jubilant Foodworks | Sell | Target: Rs 113015
Jul, 2019After peaking out at 1575 in 2018 and forming a lower top at 1487 after that, the stock has remained under sustained corrective
The prices are currently under a bearish Descending Triangle Formation
The RS Line, when compared against the broader markets, is seen sharply moving lower and ruled below its 50-DMA
The price of the stock also presently trades below its 50-DMA and 200-DMA, which indicate a bearish setup
There are high probabilities of this pattern, resolving with a downside breakdown over the coming days
The price has currently moved below lower Bollinger bands which shows the high possibility of a breakdown from current levels
Any close above 1270 should be a stop-loss for this view.? Edelweiss Financial Services | Buy | Target: Rs 22015 Jul, 2019The stock is in a
bullish ascending triangle formation
A golden cross has occurred on the charts as the 50-DMA has just crossed 200-DMA from below
The PPO is about to turn positive while daily MACD is sharply moving towards a positive crossover
The RS line, when compared against the broader markets, has formed a higher bottom and appears to be moving higher
It has moved past its 50-DMA as well
The Bollinger bands are over 63% wider
This increases the possibilities of a sharp move in price over the coming days
A resumption of up-move in this stock cannot be ruled out
Any close below 155 will be a stop-loss for this view.? PVR | Buy | Target: Rs 185015 Jul, 2019Some serious momentum is seen building up on
It has attempted to break out of a broad symmetrical triangle and piercing the falling trend line which begins from 1829 and joins
The price has closed above the upper Bollinger band and this has further increased the chance of a sustained up move in the stock
The daily MACD stays in continuing buy mode
The RSI has made a higher bottom and has moved past its previous high
RS Line looks stable and it is above its 50-DMA
On the longer term weekly charts, the stock broke above its major double top formation, suffered a throw back, and it is now seen inching
Though a minor pullback inside the band cannot be ruled out, there are higher chances of resumption of sustained momentum in the stock
Any close below 1790 will be a stop-loss for this view.Tube Investments of India | Buy | Target: Rs 45015 Jul, 2019After peaking out near
434 and seeing a sharp correction which took the stock to 348, the price has remained in a sideways trajectory after that
The stock has remained in a three and a half month long trading range, and it has attempted a breakout
The RS Line, when compared against the broader markets have sharply moved higher and ruled above its 50-DMA
The daily MACD has shown a positive crossover, and it is now bullish while trading above its signal line
The price has ended above the upper Bollinger band, and this has increased the possibilities of the breakout sustaining and stock inching
Any close below 385 should be treated as a stop-loss for this view.Kkunal Parar, Senior Technical Research Analyst, Choice BrokingCentury
Textiles - Industries | Buy | Target price: Rs 980 | Stop loss: Rs 890On the daily chart, the stock has formed a Bullish Harami Candlestick
formation which is an indication of a bullish reversal
Moreover, the stock has taken support at its horizontal trend line, which suggests a bounceback on the counter
The stock has taken the support at its 200-day moving average and has given a breakout of its three days trading range which shows a
northward movement in the counter
Daily momentum indicator RSI reading is at 45.35 level with a positive crossover, which points out to a positive breath in the
counter.
Biocon | Buy | Target price: Rs 272.80 | Stop loss: Rs 244On the daily chart, the stock has given a breakout from its upper band of
falling wedge formation which is a bullish reversal indication
Moreover, the stock has been trading above its 21-days moving average placed at 248.55 which shows a positive rhythm in the counter for the
After a healthy correction, the stock has formed an Opening Marubozu candlestick which is a bullish reversal candlestick and suggests a
northward movement in the counter
Daily momentum indicator, RSI, is at 49.75 level with a positive crossover
Apart from this, the stock has formed a positive divergence which points out to a positive breath in the counter
Aditya Agarwala, Senior Manager, Technical Analysis, YES SecuritiesHCL Technologies | Buy | Target price: Rs 1,075-1,120 | Stop loss: Rs
995On the daily chart, HCL Technologies has turned higher after taking support at the lower end of the wedge pattern indicating bullishness
Further, the stock has completed a bullish AB=CD corrective pattern
Potential reversal zone (PRZ) of the pattern also happens to be the lower end of the wedge pattern placed at Rs 1,005
The RSI has also turned upwards after testing the oversold zone on the daily chart, suggesting bullishness building up in the stock.
Bharat
Forge | Buy | Target price: Rs 495-510 | Stop loss: Rs 437On the daily chart, Bharat Forge is on the verge of a breakout from a bullish
wedge pattern, suggesting bullishness building up in the stock
Sustained trade above Rs 475 will trigger a breakout from the pattern which can take it higher to Rs 495-510 levels
On the weekly chart, it is constantly taking support at Rs 430 which also happens to be the 78.6 per cent Fibonacci retracement level
A sustained trade above Rs 475 will take the stock higher
The RSI has formed a positive divergence and turned north, indicating bullishness in the stock.
Vaishali Parekh, senior technical analyst at
Prabhudas LilladherHero MotoCorp | Buy | Target price: Rs 2,800 | Stop loss: Rs 2,400This stock has witnessed a decent erosion recently and
has bottomed out near Rs 2,360 level to give a bounce back
The RSI shows a trend reversal has improved the bias
With good volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 2,800, keeping a stop loss of Rs
365 and recovered strongly to give almost a breakout above the previous peak level of Rs 408
The RSI has recovered strongly from the oversold zone and also indicated a trend reversal to signal a buy
With the stock moving above the 50-DMA moving average, the bias has improved significantly and a further upward move from these levels is
Please consult your financial adviser before taking any position in the stock/s mentioned.) Watch | How to spot multibaggers in stock market