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    11 money-making ideas for next 4 weeks

    ETMarkets.com|
    Stock picking
    1/12

    Stock picking

    The bulls are having a field day, prancing about on Dalal Street and trying to announce that they are back. However, analysts look at it as nothing but a bear market rally and advise caution. Technical analyst Milan Vaishnav, Founder of Gemstone Equity Research & Advisory Services, said, "While some profit-taking is expected at higher levels, we recommend chasing the up-move with an overly cautious and stock-specific approach."

    Based on various brokerage recommendations, here are 10 stocks that can offer solid returns over the next 3-4 weeks:

    iStock
    ​Glenmark Pharma | BUY | Target Price: Rs 397
    2/12

    ​Glenmark Pharma | BUY | Target Price: Rs 397

    This counter appears to be consolidating in a 40-point range for the last 5 weeks, in the zone of Rs 360-320. Relatively higher volumes around the upper end of this trading range are suggesting that this counter is in for a breakout sooner than later. Hence, in anticipation of such a breakout, positional traders can create long positions with a stop below Rs 340 levels on a closing basis and look for a target of Rs 397.

    [Analyst: Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in]

    Bata | BUY | Target Price: Rs 1,390
    3/12

    Bata | BUY | Target Price: Rs 1,390

    For the last couple of weeks, this counter appears to be consolidating in a range of Rs 1,390-1,245 levels. The way this counter bounced back from the lower end of the trading range on relatively higher volumes is hinting that slowly it can head towards the upper end of its trading range. Hence, positional traders should buy into this counter and look for a target of Rs 1,390, the analyst said. Stop suggested for the trade is a close below Rs 1,280 levels.

    [Analyst: Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in]

    Exide Industries | BUY | Target Price: Rs 175
    4/12

    Exide Industries | BUY | Target Price: Rs 175

    This counter appears to have emerged out of its recent congestion zone with a decisive breakout on the daily line chart. Hence, sustaining above Rs 157 levels, it can slowly head to test its 200-day moving average whose value is placed around Rs 175 levels. Interestingly, this level also coincides with 62% retracement value of its entire fall from the highs of Rs 208–124. Considering the strong support around Rs 156 levels, positional traders are advised to adopt a two-pronged strategy of buying now and adding further on dips, if any, into the zone of Rs 160-157 and look for a target of Rs 175. Stop suggested for the trade is close below 156.

    [Analyst: Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in]

    Praj Industries | BUY | Target Price: Rs 65
    5/12

    Praj Industries | BUY | Target Price: Rs 65

    After showing weakness in the last few weeks, the stock price witnessed an excellent upside bounce in the last week and closed higher. The formation of Doji-type candle patterns in the previous two weeks have coincided with near term bottom reversal in the stock price at Rs 52.50. Volume expanded with the rise in stock price and weekly RSI is currently showing positive indication. Traders can initiate but at current market price, add more on dips down to Rs 56.50 and wait for the upside target of Rs 65 in the next 3-4 weeks. Place a stop loss of Rs 55, the analyst suggested.

    [Analyst: Nagaraj Shetti, Technical Research Analyst, HDFC securities]

    Jyothy Labs | BUY | Target Price: Rs 117
    6/12

    Jyothy Labs | BUY | Target Price: Rs 117

    The recent downward correction seems to be completed in the stock price as we observed sustainable upside bounce in the last week. The recent low of Rs 100 could now be considered as a new higher bottom of the sequence. Volume has started to pick up with the upside bounce in the stock price, the analyst said. Weekly momentum oscillators like RSI and Stochastic are showing positive signals. Buying can be initiated at the current market price. Traders can add more on dips down to Rs 102 and wait for the upside target of Rs 117 in the next 3-4 weeks. Place a stop loss of Rs 98.50, the analyst recommended.

    [Analyst: Nagaraj Shetti, Technical Research Analyst, HDFC securities]

    Bharti Airtel | BUY | Target Price: Rs 600
    7/12

    Bharti Airtel | BUY | Target Price: Rs 600

    The stock is in the long term break out. It was consolidating between the range of Rs 250 and 550 for eleven years. During challenging times, the company has managed to form a series of the higher top higher bottom. When the market was in the dark shade, it has formed successive highs, suggesting further outperformance and relative strength as compared to other stocks in the basket of Nifty 50. One can look into buying this stock for a target price of Rs 600 with a stop loss at Rs 520.

    [Analyst: Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities]

    ​BPCL | BUY | Target Price: Rs 370
    8/12

    ​BPCL | BUY | Target Price: Rs 370

    After a long time, the stock managed to close above 50 day SMA which is broadly positive. On daily and weekly charts, the stock has formed higher bottom series pattern near 300, which suggests uptrend wave is likely to continue in the near term. In addition, on weekly charts, the stock has formed Hammer candlestick reversal pattern followed by a strong bullish candle that indicates strong possibility of further upside from current levels. In short-run, Rs 325 should act as strong support for BPCL and sustenance above the same can take it to Rs 370. Stop loss suggested for this trade is Rs 325.

    [Analyst: Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities]

    HUL | BUY | Target Price: Rs 2,250
    9/12

    HUL | BUY | Target Price: Rs 2,250

    The stock has maintained a strong base near Rs 1,970-1,980 levels and has picked up momentum, improving the bias. The RSI indicator has indicated a trend reversal from the oversold zone and signalled a buy. The analyst anticipates further upward in the coming days suggests buying the stock for positional target of Rs 2,200-2,250 keeping the stop loss near Rs 1,980 levels.

    [Analyst: Vaishali Parekh, Senior Technical Analyst, Prabhudas Lilladher]

    Pidilite Industries | BUY | Target Price: Rs 1,640
    10/12

    Pidilite Industries | BUY | Target Price: Rs 1,640

    The stock made a higher bottom formation pattern on the daily chart and bounced back strongly to improve the bias. The RSI is on the rise, getting stronger. The analyst anticipates further upward movement in the coming days and hence suggests buying the stock for an upside potential target of Rs 1,600-1,640, keeping the stop loss at Rs 1,350.

    [Analyst: Vaishali Parekh, Senior Technical Analyst, Prabhudas Lilladher]

    Shutterstock.com
    ITC | BUY | Target Price: Rs 216
    11/12

    ITC | BUY | Target Price: Rs 216

    The stock prices have confirmed a bullish reversal pattern breakout known as ‘Cup N Handle’. That said, the breakout is witnessed with a bullish candle stick pattern and strong volume. In addition, the stock is also witnessing a strong continuation pattern breakout known as Flag. The prices closed above 89EMA for the first time after six months and indicate a change in polarity. Momentum oscillator i.e. RSI as well is placed in the positive zone, supporting the buy call. Hence, the analyst recommends a buy at current levels for a target of Rs 216 over the next 14 sessions. The stop loss should be fixed at Rs 186.

    [Analyst: Sameet Chavan, Chief Analyst Technical and Derivatives, Angel Broking]

    Vinati Organics | BUY | Target Price: Rs 1,110
    12/12

    Vinati Organics | BUY | Target Price: Rs 1,110

    For the last few weeks, the stock prices were trading in a very tight range of Rs 920-1,000. During the last session, the prices finally broke this range on the upside, confirming a bullish breakout. On the daily chart, prices have also confirmed an ‘Inv Head N Shoulder’ bullish breakout. The above breakouts are seen with a spurt in volume, indicating buying by strong hands. In addition, prices have closed above a higher range of Bollinger band, indicating signs of trending upmove after the recent consolidation. Moreover, prices after taking support at 89EMA have now crossed over 200SMA, indicating overall bullishness in the counter. The analyst recommends a buy on this stock at current levels for a target of Rs 1,110 over the next 14 sessions. The stop loss should be fixed at Rs 961.

    [Analyst: Sameet Chavan, Chief Analyst Technical and Derivatives, Angel Broking]

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