INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The domestic equity market witnessed a turnaround and opened positive on Monday, with benchmark Sensex jumping 230 points and
Nifty touching 10,083 mark in opening trade
However, the headline indices failed to hold altitude and pared gains, taking cues from Asian peers as worries over corporate earnings and
a slowdown in global economic growth weighed on
Analysts said a stock-specific approach should work in such an unpredictable market
Based on the recommendations from various brokerages, here are 10 stocks that can give you decent gains over the next 2-3 weeks.
Mazhar
272Recent price behaviour on this counter is pointing towards some sort of accumulation
The stock is holding on to its recent gains and has registered a bullish candle on the weekly chart, especially at a time when the broader
market was witnessing a deep carnage
price: Rs 576 | Stop loss: Rs 500In last four sessions, this counter traded almost flat and appears to be moving in a horizontal fashion,
pointing towards better relative strength compared with the broader market
price: Rs 340 | Stop loss: Rs 307This counter is clearly showing signs of an early bottom, as it tested the low of Rs 310 in last four weeks
and then bounced back, suggesting a strong support around those levels
Positional traders should buy at the current price and add further around Rs 312 for an initial target of Rs 340
Positional traders should buy the stock for an initial target of Rs 340 with a stop loss below Rs 307 on a closing basis.
Aditya Agarwala,
technical research analyst, YES Securities (India)Sterlite Technologies | Buy | Target price: Rs 375-400 | Stop loss: Rs 320On the weekly
chart, Sterlite Technologies is on the verge of a breakout from a triangle pattern neckline placed at Rs 363, indicating the resumption of
A sustained trade above Rs 363 with healthy volumes can take the stock higher to Rs 375-400 levels
The RSI has turned upward after taking support at the lower end of the bull zone i.e
40 level, and has formed a positive reversal on the daily chart, suggesting bullishness in the counter
Buy | Target price: Rs 7,100-7,400 | Stop loss: Rs 6,000On the weekly chart, TTK Prestige has taken support at the lower end of a channel
and turned upwards suggesting the resumption of an uptrend on cards
On the daily chart, it has broken out from a channel pattern after forming a positive divergence with respect to the RSI, indicating higher
levels in the coming sessions
Moreover, the RSI formed a positive reversal on the weekly chart, suggesting that the uptrend is still intact
said.
Vaishali Parekh, senior technical analyst, Prabhudas Lilladher Mahindra Mahindra | Buy | Target price: Rs 825 | Stop loss: Rs 700This
stock has witnessed a decent correction from Rs 976 to bottom out around that level and there a consolidation phase going on to signify
strength and potential in the stock
The chart looks attractive
With the RSI moving around in the oversold zone, the bias and risk-reward ratio has become attractive
said.
Britannia Industries | Buy | Target price: Rs 5,900 | Stop loss: Rs 5,000 This stock has witnessed a good correction from the Rs 6,935
It is currently showing signs of bottoming out at around Rs 5,255 and the chart looks promising for an upside movement in the coming days
The RSI has indicated a trend reversal to signal a buy
said.
Nagaraj Shetti, technical research analyst, HDFC SecuritiesInterGlobe Aviation (IndiGo)| Buy | Target price: Rs 960 | Stop Loss Rs
815The declining trend of IndiGo seems to have completed as the stock has witnessed an excellent bounce in the past few weeks
After forming a consistent negative sequence of lower tops and bottoms on the daily charts, this stock has moved up swiftly, by forming
higher highs and lows, which signals a positive bias
Volume and RSI are also supporting current upmove
derivatives research - AVP equity research, Anand Rathi Shares and Stock BrokersMaruti Suzuki | Buy | Target price: Rs 7,300 | Stop loss: Rs
6,500This stock seems to have completed a five-week declining structure
So, a bounceback or a retracement of the entire fall is expected
Momentum indicators are showing positive divergence which also a positive sign going forward for this stock.
Gaurav Ratnaparkhi, senior
technical analyst, Sharekhan by BNP ParibasGodrej Industries | Buy | Target price: Rs 520 | Stop loss: Rs 434 After a multi-week decline,
Godrej Industries seems to be forming a base for itself
On the daily chart, it has formed a Doji pattern at the daily lower Bollinger Band, which shows that the momentum can shift in favour of the
The stock is showing a positive divergence on the daily chart, which is a bullish sign
So, the stock seems to be gearing up for a short-term pullback.
