Maruti, Dabur, Lupin, TechM among 12 money-making ideas for short term
The broader market is throwing up plenty of stock-specific opportunities.
This week, investors will shift focus on September quarter earnings and macro data even as they track developments over the trade deal and crude oil price movement.
Nagaraj Shetti, technical research analyst at HDFC Securities, says Nifty’s short-term trend remains positive, but faces resistance at higher levels.
“The market is facing stiff resistance in the 11,350-400 zone. Its inability to sustain above this hurdle may result in further weakness next week,” Shetti said.
Meanwhile, the broader market is throwing up plenty of stock-specific opportunities. Based on the recommendations of different brokerages, here is a list of 12 stock strategies that can potentially deliver good gains over the next few sessions.
Ajit Mishra, Religare Broking:
Adani Ports & SEZ |Buy| Target price Rs 422| Stop loss Rs 394
This stock has formed a fresh buying pivot on the daily chart, as it retraced marginally after a sharp rise and come closer to the support zone around Rs 390. All indications are in favour of a gradual rise from here on. Mishra advised investors to use this buying opportunity and initiate fresh longs.
Divi's Lab |Buy| Target price Rs 1,780| Stop loss Rs 1,625
Mishra sees a mixed trend in the pharma space. Divi’s Laboratories has been witnessing consolidation amid volatility while holding firmly above the support zone of the long-term moving average on the daily chart. Indications are in favour of a breakout in the near future.
Dabur |Buy| Target price Rs 465 | Stop loss Rs 434
The analyst sees a mixed trend for the FMCG pack. Dabur has been maintaining a positive bias amid volatility. After a marginal dip, it has swiftly rebounded from its support zone of 100 EMA on the daily chart and formed a fresh buying pivot.
Vikas Jain, Reliance Securities
Lupin | Buy| Target price Rs 770 | Stop loss Rs 660
This stock has made a strong bottom at sub-Rs 650 levels and has been witnessing a bounce from lower levels in the past few days. A positive Hammer candle on weekly charts indicates a trend reversal from current level. It will save the stock from further fall.
Hexaware Technologies| Buy| Target price Rs. 395| Stop loss Rs. 342
This stock is trading in the Rs 350-380 range, with its 200-day average as a key support. Key technical indicators are trading above the average line and have reversed from lower levels, confirming an uptrend over the next few weeks
Vinay Rajani, HDFC securities.
Apollo Hospitals | Buy | Target price: Rs 1550 | Stop loss: Rs 1400
The primary trend on the counter is bullish as it has formed higher tops and bottoms on the weekly charts. The stock trades above all important moving average parameters.
Shrikant Chouhan, Kotak Securities
Tech Mahindra | Buy| Target price Rs 790| Stop loss Rs 689
Chouhan sees a trend-line breakout above the Rs 718 level on the daily chart. The stock has reversed sharply from the 100-day EMA on daily charts, which signifies long-term support. The above points represent a strong case for buying the stock at current levels, he said.
Tata Motors | Buy | Target price Rs 138| Stop loss Rs 112
The formation of higher low is more likely at the Rs 112.65 level. Volume activity at lower levels is a sign of accumulation from big players, namely FIIs, DIIs and promoters. Chouhan said the risk-reward looks favorable at current levels and, hence, he recommends a buy rating to the stock.
HDFC Bank | Buy | Target Price Rs 1,300 | Stop loss Rs 1,149
This stock has been a consistent outperformer. Also, it has been forming higher highs and lows on the daily charts even as Nifty trades below the 11500 level, which is a positive signal. Currently, the stock has retraced to an important support zone at Rs 1,180-1,190 after the significant rally from Rs 1,084 to Rs 1,280. This zone offers an excellent buying opportunity for traders, as well as investors, Chouhan said.
Mustafa Nadeem, Epic Research
Maruti Suzuki |Buy| Target price Rs 7,110-7,334| Stop loss Rs 6,500
After the recent up-move from Rs 6,000 level, the stock is seeing a cooling off in volatility while price action suggests the formation of a Pennant Pattern, which is a bullish continuation pattern, on the daily scale. A positive crossover of the 20-day and 50 day MAs with prices sustaining above the previous swing highs creates a window to enter the stock for a short-term upside.
Blue Star| Buy| Target price Rs 880-900|Stop loss Rs 760
Short-term, medium-term and long-term biases are looking positive for the stock, as it shows an uptrend. Moreover, it has been forming an “Inverted Head and Shoulder” pattern on the weekly chart, and is likely to see the breakout of the same. One can expect more upside from current level.
Voltas |Buy| Target price Rs 730-750| Stop Loss Rs 640
This stock has been forming higher highs and lows on the weekly charts, which is a bullish signal. Apart from this, it is forming a “Bull Flag” pattern on the daily charts and is on the verge of a breakout. Follow up buying can continue in the coming days, SMC said.