Market Trading Guide: HAL among 6 stock recommendations for Friday
"Snapping three series’ losing streak, Nifty rallied 7% in the July series. FIIs added index futures long positions and covered shorts in the recent past. Nifty’s internal breadth turned positive in the past two sessions. Minor throwbacks should be considered buying opportunities, whereas, on the higher side, the ongoing rally is likely to continue till 17,000-17,050 levels," said Amit Trivedi of Yes Securities.
"Nifty has given a decisive breakout above 16,750 zone, maintaining the levels near 16,900 with a strong close and has strengthened the trend to anticipate for further upward move opening the gates till 17,300 levels with sentiment getting better," said Vaishali Parekh, of Prabhudas Lilladher
Here are the top six stock recommendations which analysts suggest:
ET Bureau & Agencies
Target: Rs 205
Stop Loss: Rs 235
After a few days of consolidation, the stock rebounded off its support zone. The appearance of multiple bullish candles ensures a positive outlook for the stock.
Analyst: Amit Trivedi, Yes Securities
ET Bureau & Agencies
Target: Rs 1,330
Stop Loss: Rs 1,180
With a sustained move above 100 day EMA, the stock has regained momentum on the upside. Positive follow-up action could lift the stock near its uncharted territory zone.
Analyst: Amit Trivedi, Yes Securities
ETTelecom
Target: Rs 1,610
Stop Loss: Rs 1,350
The stock has remained above the trendline resistance zone of Rs 1,360 levels and after a short dip from Rs 1,470 levels has again regained strength with a bullish candle pattern with improving bias, and further upside move is anticipated. A cross above Rs 1,470 levels would further strengthen the trend and, with the RSI on the rise, has many upside potentials to justify our recommendation. We suggest buying and accumulating this stock for an upside target of Rs 1,610, keeping the stop loss at the Rs 1,350 level.
Analyst: Vaishali Parekh, Prabhudas Lilladher
Agencies
Target: Rs 3,900
Stop Loss: Rs 3,220
The stock has recently indicated a breakout above the triangular pattern in the daily chart and after a short correction, has again shown strength with a reversal to improve the bias and anticipate further upside moves in the coming days. A move past the significant 50EMA level of Rs 3,510 would further strengthen the bias, and with the RSI also on the rise has suggested immense potential on the upside. With the chart looking attractive and with a favourable risk-reward ratio, we suggest buying and accumulating this stock for an upside target of Rs 3,900, keeping the stop loss at Rs 3,220.
Analyst: Vaishali Parekh, Prabhudas Lilladher
ET Bureau & Agencies
Target: Rs 1,303
Stop Loss: Rs 1,180
It is trading above 200-DMA and indicating a positive trend.
Analyst: Manoj Dalmia, Proficient Equities
Agencies
Target: Rs 2,323
Stop Loss: Rs 1,854
HAL can be bought at current levels as the stock is above 200 Day EMA, indicating a bullish trend. We can expect a target of Rs 2,323 from the current levels.
Analyst: Manoj Dalmia, Proficient Equities
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)
Agencies
