If the stock market has soared above the last few days, then market analysts are advising to make a bet on select stocks and on the advice of many brokerage houses, we are here to name the names of 8 stocks, from which you will be coming 2-3 You can get a good return in weeks.
1. HCL Technologies
Target Price: ₹ 1,270
Stop loss: ₹ 1,090
According to Mazhar Mohammed, Chief Strategist, Technical Research and Trading Advisory, the stock is looking good on the long-term chart. It's been a breakout this month and after staying in the range of 1,100-900 for one year, it reached the new life time high level. Now it can go up to Rs 1,300. If it continues to be above 1,100 rupees, then the positive momentum will remain intact. Mohammed said, "Possessional traders can now invest in reaching around 1,100 now."
2. Jindal Steel and Power
Target price: ₹ 190
Stop loss: ₹167
At the level of Rs 165, its short term bottom has been created. If the stock stays above 168 rupees then this recent swing can reach Rs.191. Mohammed said, "Possessional traders can now buy their shares after falling further to close to Rs. 170."
3. State Bank of India
Target price: ₹ 340-360
Stop loss: ₹ 297
According to Aditya Agarwal, Senior Manager, Technical Analysis, Yes Securities, SBI is looking forward to the weekly chart. Volume down in throbac means that it will be lethargic for some time before next fast. The Daily Chart has broken out with the Bushy Flag pattern in SBI. This can go up in the coming sessions. Its RSI has shifted upward and before that it got a touch at 50 level. There has also been a positive reversal in the stock on the daily chart, which is indicative of the pace.
4. Shankara Building Products
Target Price: ₹ 595-620
Stop loss: ₹ 485
Shankara Building Products on the Daily Chart is close to breakout. If it breaks out of the Bullish Flag pattern of Rs 540, then it will be a sign of the end of recession in the stock. There are many highlights and high-rise in this. They also found signs of stagnation in the stock.
5. Ambuja Cement
Rating: Bye
Target price: ₹ 240
Stop loss: ₹ 219
According to Vaishali Parekh, senior technical analyst, this stock has got close to 200 DMA, which is close to Rs 216. The recovery in Ambuja Cement has indicated an increase in it. It can move towards 240 rupees. There are signs of trend reversal even with RSI.
6. Hexaware Technologies
Target price: ₹390
Stop loss: ₹ 332
Gajendra Prabhu, senior technical analyst, said that there was a bullish candle pattern on the Daily Chart on April 25. This indicates the bullish reversal in the stock. There is also a breakout in hexaware from the short-term trendline. On the intraday chart, there is a high-top and higher bottom, which is a bullish development. Technical indicators are also seen in the Bulls fever.
7. Multi Commodity Exchange
Target Price: ₹ 925
Stop loss: ₹ 790
Rajesh Bhosale, who is a technical analyst, believes that the stock has crossed all the barriers on the daily chart. MCX's quarter-on-quarter result was good, which helped him in this. The manner in which Breakout is done by Registry indicates the formation of a bullish reversal pattern. RSI also confirmed the bullish crossover in the stock. Therefore, it can be bought for short term.
8. Dr. Reddy's Laboratories
Target price: ₹ 3,100
Stop loss: ₹ 2,775
Pharma stocks outperformed last week. It seems that after this phase of fasting is also going on in this sector. Dr. Reddy's has crossed the recent consolidation zone and now it is trading on a 52-week peak. Dr. Reddy's stock is closed above the Bollinger band. This is indicating a steady rise in the stock in the short term.
To get every fresh update associated with Share Market News, please follow our Facebook page.
1. HCL Technologies
Target Price: ₹ 1,270
Stop loss: ₹ 1,090
According to Mazhar Mohammed, Chief Strategist, Technical Research and Trading Advisory, the stock is looking good on the long-term chart. It's been a breakout this month and after staying in the range of 1,100-900 for one year, it reached the new life time high level. Now it can go up to Rs 1,300. If it continues to be above 1,100 rupees, then the positive momentum will remain intact. Mohammed said, "Possessional traders can now invest in reaching around 1,100 now."
2. Jindal Steel and Power
Target price: ₹ 190
Stop loss: ₹167
At the level of Rs 165, its short term bottom has been created. If the stock stays above 168 rupees then this recent swing can reach Rs.191. Mohammed said, "Possessional traders can now buy their shares after falling further to close to Rs. 170."
3. State Bank of India
Target price: ₹ 340-360
Stop loss: ₹ 297
According to Aditya Agarwal, Senior Manager, Technical Analysis, Yes Securities, SBI is looking forward to the weekly chart. Volume down in throbac means that it will be lethargic for some time before next fast. The Daily Chart has broken out with the Bushy Flag pattern in SBI. This can go up in the coming sessions. Its RSI has shifted upward and before that it got a touch at 50 level. There has also been a positive reversal in the stock on the daily chart, which is indicative of the pace.
4. Shankara Building Products
Target Price: ₹ 595-620
Stop loss: ₹ 485
Shankara Building Products on the Daily Chart is close to breakout. If it breaks out of the Bullish Flag pattern of Rs 540, then it will be a sign of the end of recession in the stock. There are many highlights and high-rise in this. They also found signs of stagnation in the stock.
5. Ambuja Cement
Rating: Bye
Target price: ₹ 240
Stop loss: ₹ 219
According to Vaishali Parekh, senior technical analyst, this stock has got close to 200 DMA, which is close to Rs 216. The recovery in Ambuja Cement has indicated an increase in it. It can move towards 240 rupees. There are signs of trend reversal even with RSI.
6. Hexaware Technologies
Target price: ₹390
Stop loss: ₹ 332
Gajendra Prabhu, senior technical analyst, said that there was a bullish candle pattern on the Daily Chart on April 25. This indicates the bullish reversal in the stock. There is also a breakout in hexaware from the short-term trendline. On the intraday chart, there is a high-top and higher bottom, which is a bullish development. Technical indicators are also seen in the Bulls fever.
7. Multi Commodity Exchange
Target Price: ₹ 925
Stop loss: ₹ 790
Rajesh Bhosale, who is a technical analyst, believes that the stock has crossed all the barriers on the daily chart. MCX's quarter-on-quarter result was good, which helped him in this. The manner in which Breakout is done by Registry indicates the formation of a bullish reversal pattern. RSI also confirmed the bullish crossover in the stock. Therefore, it can be bought for short term.
8. Dr. Reddy's Laboratories
Target price: ₹ 3,100
Stop loss: ₹ 2,775
Pharma stocks outperformed last week. It seems that after this phase of fasting is also going on in this sector. Dr. Reddy's has crossed the recent consolidation zone and now it is trading on a 52-week peak. Dr. Reddy's stock is closed above the Bollinger band. This is indicating a steady rise in the stock in the short term.
To get every fresh update associated with Share Market News, please follow our Facebook page.
0 Comments