INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Strong corporate earnings helped the domestic equity market log weekly gains for the fifth consecutive period last week
The SP BSE Sensex rose 1.6 per cent for the week to settle at 34,970 while NSE's Nifty50 added 1.2 per cent to shut shop at 10,692.Going
ahead, the focus would be on corporate earnings, bond yields (US as well as in India) and crude oil price
So far, Indian equities have shrugged off the negative implications of increase in crude price on inflation, current account deficit and
But, we would like investors to be watchful of this concern, said Sanjeev Zarbade, Vice-president-PCG Research at Kotak Securities.While
better-than-expected earnings from IT firms and a couple of banks have kept market sentiment elevated, weak numbers from other sectors can
weaken market sentiment, Zarbade said
Based on various brokerage recommendations, here are 10 stock strategies that can potentially see good gains over the next three
weeks.Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP ParibasPTC India | BUY | Target Price: Rs 102 | Stop loss: Rs
The correction retraced nearly 78.6 per cent of the rise, which proved to be a crucial support
Over there, the daily lower Bollinger Band also offered support to the counter
Consequently, the stock has taken off thereon
As per the Elliott Wave Theory, PTC is expected to form another set of a five-wave rise from current level
Thus, this is a high probability level to initiate a fresh buy position.Piramal Enterprises | BUY | Target Price: Rs 2,900 | Stop loss: Rs
2,550PEL witnessed a multi-month correction from the high of Rs 3,070 registered in June last year
The correction looks over in the last month at the low of Rs 2,275
Thereon the stock seems to have embarked on a fresh rally, which can last for several months
Thus, the stock looks positive from short term as well as medium term perspective
The stock is moving up along with a rising trendline
The recent structure shows that the stock has formed a consolidation above the trendline and has broken out from the consolidation on the
upside.CEAT | BUY | Target Price: Rs 1,787 | Stop loss: Rs 1,508CEAT has been forming an Inverted Head Shoulders, which is a bullish
The pattern is spanning over several weeks so the implication of the pattern breakout is likely to be significant
Currently, the stock is forming right shoulder of the pattern
Hereon it is expected to head towards the neckline and can eventually breakout on the upside
The risk reward ratio at this level is very attractive to take a fresh long position.Milan Vaishnav, CMT, MSTAIIFL HOLDINGS | BUY | Target
Price: Rs 835 | Stop loss: Rs 720This stock tested the high of Rs 874 and since then it has been under a corrective retracement
It has tested the 100-DMA level twice and is seen taking support and bouncing back from this significant support area
A buy signal has emerged over Stochastic on the daily chart
The RSI is seen forming a higher bottom and is seen inching higher showing a bullish divergence against the price
On the candles, a candle with a long lower shadow emerged near the support area of 20-WMA
Some pullback and upward revision in prices cannot be ruled out.Bajaj Finserv | BUY | Target Price: Rs 5,650 | Stop loss: Rs 5,340This stock
has formed a classical rounding bottom formation followed by a double top
After a minor attempt to break above this price level, the stock presently remains under sideways consolidation
A couple of signals have emerged which point towards likely upward revision in prices over coming days
RSI is seen taking support at a pattern and is seen moving higher
The weekly MACD remains in continuing buy mode
The stock remains in leading quadrant when compared against the financial services pack on the RRG.Gajendra Prabhu, Technical Research
Analyst at HDFC SecuritiesIRB Infra | BUY | Target Price: Rs 290 | Stop loss: Rs 248This counter has started a fresh rising leg from the low
Price is finding support at the key moving average i.e
On the weekly chart, the stock has formed long legged doji candle pattern which is significant bullish reversal formation
In addition, the price is rebounding from 50 per cent retracement level of last rise from Rs 214 to Rs 282
Also, the stock has been forming higher top and higher bottom formation in larger degree which is a bullish development
Rs 765This stock has been forming an Inverted Head Shoulder pattern on daily chart and price is hovering at the neckline
The stock is likely to breakout in next few days as the stock is trading above all key moving averages of 21-, 50- 200-day EMAs
Apart from this, it is in progress of attempting to cover the down gap witnessed on January 30, 2018 placed at the Rs 910 level
Analyst, YES SecuritiesApollo Tyres | BUY | Target Price: Rs 314-Rs 323 | Stop loss: Rs 280On the weekly chart, Apollo Tyres has broken out
from an Ascending Triangle pattern triggering an extension of the uptrend
On the daily chart, the stock has broken out from a pennant pattern suggesting higher levels in the coming trading sessions
RSI on weekly chart has turned upwards, currently trading above the 60-level affirming the strong bullishness dominant in the stock
It can be bought in the range of Rs 291-Rs 294 for targets of Rs 314-Rs 323, keeping a stop loss below 280.Mazhar Mohammad, Chief Strategist
appears to have formed a nice base around Rs 163 levels in recent correction after testing its 200-Day Moving Averages
If a fresh leg of upswing is in progress from Rs 163 levels, then with a pickup of momentum in broader markets and fresh breakouts in this
counter above Rs 170 levels, it shall ideally head towards Rs 185.Power Finance Corporation | BUY | Target Price: Rs 97 | Stop loss: Rs 81In
This reversal of last session resulted in a Hammer formation on weekly candlestick charts which shall have a bullish connotations going
With this renewed strength this counter shall head to much higher levels going forward with fresh breakouts above Rs 90 levels.(Views and
Please consult your financial adviser before taking any position in the stock/s mentioned.)
