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Day Trading Guide: 6 stocks recommended by analysts for Monday
, ETMarkets.com|
“Although Nifty breached the support of 17,400 but 17,442 could be an important support in the coming session. For bulls to retaliate back, 17,400-17,300 should remain unharmed,” said Mehul Kothari, AVP - Technical Research, Anand Rathi Shares & Stock Brokers. “On the upside, a breakout above 17,650 would confirm a falling wedge breakout and then we could witness a faster momentum on the upside.”
With regards to the Nifty Bank index, he said it is stuck in a range of 37,000-38,000 and a breakout or a breakdown from the given range would determine the further
trend.
Below are some stocks that will be in focus:
iStock
Stop loss: Rs 6950
Target: Rs 6400
In the past one month, Ultratech Cement rallied from the low of Rs 5,630 towards the recent high of Rs 6,900 without any notable correction. The stock is now stuck again at the previous breakdown zone and also the placement of the 200-day moving average. Thus there is a possibility of some profit booking in the coming week.
(Analyst: Mehul Kothari, Anand Rathi Shares & Stock Brokers)
ETRealty
Stop loss: Rs 204
Target: Rs 237
The stock has given a consolidation breakout on the daily chart, suggesting a rise in bullishness. Also, the price has sustained above previous swing high on the daily timeframe indicating a bullish trend. The daily RSI is in a bullish crossover and rising. The current positive momentum is likely to continue as long as the price sustains above the recent consolidation. Over the short term, the price may move towards Rs 237.
(Analyst: Rupak De, Senior Technical Analyst at LKP Securities)
iStock
Stop loss: Rs 414
Target: Rs 464
On the daily chart, the price has moved above the recent consolidation high which indicates a rising bullishness in the stock. Besides, the price has sustained above the key moving averages, suggesting a bullish trend. Daily RSI is in a bullish crossover. On the higher end, the rising price may move towards Rs 464 as long as it sustains above the recent consolidation.
(Analyst: Rupak De, Senior Technical Analyst at LKP Securities)
Agencies
Stop loss: Rs 520
Target: Rs 550
The stock closed above the 50 and 200-day moving averages.
(Analyst: Vijay Danotiya, CapitalVia Global Research)
Stop loss: Rs 315
Target: Rs 360
The stock has shown a trendline break and a surge in volume.
(Analyst: Vijay Danotiya, CapitalVia Global Research)
iStock
Stop loss: Rs 124
Target: Rs 155
The stock closed above the 50, 100 and 200-day moving averages.
(Analyst: Vijay Danotiya, CapitalVia Global Research)
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