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Stock Analysis, IPO, Mutual Funds, Bonds & More

12 money-making ideas from top brokerages for the next one month

Here are a dozen stock strategies that can potentially deliver solid gains over next one month.

, ETMarkets.com|
Updated: Nov 27, 2017, 11.45 AM IST
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For the week ended November 24, the index jumped 1.32 per cent to 10,389 from 10,283 on November 17.
For the week ended November 24, the index jumped 1.32 per cent to 10,389 from 10,283 on November 17.
All five sessions of last trading week remained in favour of the Nifty index. For the week ended November 24, the index jumped 1.32 per cent to 10,389 from 10,283 on November 17.

“Nifty’s support for this week is seen at 10,230 while resistance is at 10,560,” said Vaishali Parekh, Head of Technical Desk, Prabhudas Lilladher.

Based on the recommendations of various broking houses, here are a dozen stock strategies that can potentially deliver solid gains over the next one month:

Analyst: Rajesh Palviya Head, Technical & Derivatives Analyst, Axis Securities

Manappuram Finance | Buy | Target price: Rs 115-120 | Stop loss: Rs 100

On the weekly chart, this stock has observed a ‘Triangle’ - continuation pattern breakout at Rs 105 on closing basis which signals continuation of its uptrend. This breakout is accompanied with high volumes indicating increased participation on rally. This bullish sentiment was also reconfirmed by weekly RSI and positive crossover on the Stochastic, which signals strength ahead.

TV18 Broadcast | Buy | Target price: Rs 60-65 | Stop loss: Rs 44

This stock witnessed a breakout in Friday’s session with strong volume action from its two-year ‘Horizontal Channel’ continuation pattern formation. The projected target of the above said pattern arises around Rs 65. The stock is forming higher top, higher bottom across all the time frames, indicating a sustained upward trend. The weekly and monthly indicators, RSI and Stochastic, are in the positive zone, which supports further strength ahead.

Nath Bio-Genes (India) | Buy | Target price: Rs 494-500 | Stop loss: Rs 440

On the weekly chart, this stock has seen a decisive breakout from its six-month consolidation range (445-350) with strong volumes. The stock is also sustaining above its 20-, 50- and 100-day SMAs, which support bullish sentiments ahead. Weekly indicators RSI and Stochastic are in the positive territory, which supports further strength.

Gujarat Pipavav Port | Buy | Target price: Rs 169-174 | Stop loss: Rs 143

On the weekly chart, this stock has confirmed its "W" pattern breakout on strong volumes, indicating trend reversal on the upside. On the weekly and monthly charts, RSI and Stochastic indicators are in positive zone, which supports bullish sentiments ahead. This stock is also sustaining above its 20-day, 50-day and 100-day SMAs, indicating upward momentum to continue ahead.

Analyst: Aditya Agarwala, Technical Analyst, YES Securities

GE T&D India | Buy | Target price: Rs 475-495 | Stop loss: Rs 390

On the weekly chart, GE T&D India is on the verge of a breakout as an Ascending Triangle pattern on the chart suggested bullishness building up on the counter. The neckline of the pattern is placed at Rs 432; a sustained trade beyond the neckline on higher volumes can trigger bull trend reversal. On the daily chart, it is on the verge of a breakout from a “W” pattern affirming strength. The RSI has also broken out of the upper end of the Bollinger Bands after taking support at the 60 level affirming bullishness.

Banco Products | Buy | Target price: Rs 277-287 | Stop loss: Rs 223

On the weekly chart, Banco Products has broken out the neckline of an Ascending Triangle pattern, triggering a bull trend reversal. The RSI on weekly chart has taken support at the 40 level and turned upward, breaking out of the Bollinger Band squeeze portending to higher levels in the coming sessions. On the daily chart, it has broken out of the consolidation zone affirming bullishness. “This stock can be bought in the range of Rs 242-245 for targets of Rs 277-287, keeping a stop loss below Rs 223,” said Agarwala.

Pitti Laminations | Buy | Target price: Rs 85-88 | Stop loss: Rs 69

On the weekly chart, Pitti Laminations has broken out from a trendline line resistance placed at 76. Moreover, stock witnessed breakout on good volumes affirming bullishness. RSI has broken out from the Bollinger Bands upper band forming higher highs. On the daily chart, it continues to form higher highs affirming bullishness. “This stock can be bought in the range of Rs 76-77 for targets of 85-88, keeping a stop loss below Rs 69,” Agarwala said.

Analyst: Mazhar Mohammad, Chief Strategist-Technical Research & Trading Advisory, Chartviewindia.in

Tata Consultancy Services | Buy | Target price: Rs 2,777 | Stop loss: Rs 2,640

This counter topped out in the year 2014 after hitting a life time high of Rs 2840. Since then, it is making lower tops which interestingly resulted in a down sloping trend line with multiple touch on longer time frame charts which this counter appears to have successfully negotiated and witnessed a breakout in the current month. Hence, sustaining above the critical resistance of Rs 2,644 this counter shall go back all the way to retest its all-time high of Rs 2,840. Hence, positional traders should make use of this opportunity and go long for an initial target of Rs 2,777 and above that new highs can’t be ruled out in it. Stop loss for the trade should be at Rs 2,640, said Mohammad.

HDFC | Buy | Target price: Rs 1,800 | Stop loss: Rs 1,677

After the gapup opening along with the broader market on November 17, this counter was still in a consolidation mode, but traded with a positive bias. Interestingly in this consolidation process, it is taking support on the five-day moving averages and appears to be positioning itself for resumption of an upmove. Traders should go for long positions with a stop loss at Rs 1,677 for a target of 1,800, Mohammad said.

Analyst: Vikas Jain, Sr. Research Analyst, Reliance Securities

Bharat Electronics | Buy | Target price: Rs 205 | Stop loss: Rs 177

This stock managed to breach its prior weekly falling trend with a stellar rally. The key technical indicators are positively poised above their neutral lines. A positive sectoral outlook and strength in the indicators are signalling that the stock will continue its northbound journey, said Jain.

Apollo Tyres | Buy | Target price: Rs 300 | Stop loss: Rs 230

Higher level profit booking dragged the stock lower, where its 50-week EMA worked as key reversal point and helped it to recover prior losses. Due to recent rise in the price, the key technical indicators moved upward from their previous reversal points, signalling near-term turnaround in the trend, Jain said.

ITC | Target price: Rs 290 | Stop loss: Rs 249

The stock reversed after taking support of its long-term moving average 100-week SMA. In the past, reversal from that average worked quite well for the stock. Positive divergence in RSI w.r.t. recent fall in the price is signalling that the stock is on a verge of turnaround, he said.

(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)
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