Monday, 24 July 2017

Share Market Morning Update

Indian market witnessed a volatility week as benchmark indices closed marginally higher but over their crucial support levels. The Nifty50 closed 0.29 percent higher at 9,915 and the S&P BSE Sensex ended above 32,000 for the week ended 21 July.

The Nifty50 index is trading at its all-time high and the recent up move in the index has not been supported by broad market participation which in itself is a concern. It looks like that Indian market might be trading in last leg of its rally, suggest experts.

We have collated a list of top five stock ideas which could give up to 14% return in the next 5 sessions to 2 months:

Manappuram Finance: BUY| Target Rs119| Stop Loss Rs97| Return 14%

In last few months, this stock has consolidated in a broad range of Rs88-105. The prices are on the verge of a breakout from the resistance end of the mentioned range. In last few sessions, the volumes have increased with upmove in prices, which is a positive sign.

Hence, traders are advised to buy this stock at current levels and on declines up to Rs 104.50 for a target of Rs 119 over the next 14 – 21 sessions. The stop loss should be fixed at Rs 97.

IndusInd bank: SELL| Target Rs1518| Stop Loss Rs1599| Return 3%

This has been one of the steady outperforming stocks within the ‘Private’ banking space. At present, the stock is trading near its all time high; but, we are now observing a possibility of some short term correction.

Karnataka Bank: SELL| Target Rs142| Stop Loss Rs161| Return 9%

Post a stupendous up move from the levels of Rs100 to Rs180 in a span of less than seven months, the prices have undergone a consolidation phase since last few weeks.

Hence, traders are advised to sell this stock below Rs155 for a target of Rs 142 in short term. The stop loss should be fixed at Rs 161.

Container Corp: BUY| Target Rs1270| Stop Loss Rs1120| Return 7%

The stock closed at Rs1,180.55 on 21st July 2017. It made a 52-week low at Rs8,44.45 on 21st December 2016 and a 52-week high of Rs1,251.60 on 23rd May 2017. The 200-days Exponential Moving Average (EMA) of the stock on the daily chart is currently at Rs1,097.47

Traders can buy in the range of Rs 1,165-1,170 levels for the upside target of Rs 1,270-1,300 levels with a stop loss below Rs 1,120.

Bharti Infratel: BUY| Target Rs460| Stop Loss Rs 375| Return 12%

The stock closed at Rs410.30 on 21st July 2017. It made a 52-week low at Rs281.75 on 28th February 2017 and a 52-week high of Rs424.75 on 18th July 2017. The 200-days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 363.59.

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