Market Trading Guide: Paytm, DLF among 7 stock recommendations for Monday
, ETMarkets.com|
"The short-term trend of Nifty has turned positive. The overall positive chart pattern indicates next overhead resistance for the Nifty around 19,800 levels for the coming week. Any dip down to 19,550-19,500 levels could be a buying opportunity," said Nagaraj Shetti, Technical Research Analyst at HDFC Securities.
Here are 7 stock recommendations for Monday:
ETMarkets.com
Stop Loss: Rs 4,900
Solar Industries India is seen to be breaking out of a bullish pattern on the weekly timeframe and closing with a bullish candlestick and above-average volumes which indicates bullish strength.
On the indicator front, the stock is seen to be trading above all its important EMA’s on the daily timeframe. The momentum oscillator RSI (14) is at around 75, showing strength by sustaining above 50.
(Mitesh Karwa, Research Analyst, Bonanza Portfolio)
AFP
Stop Loss: Rs 120
KCP is seen to be breaking out of a bullish pattern on the weekly timeframe after almost two years with a bullish candlestick and above average volumes which indicates bullish strength.
The stock is trading above all its important EMAs on the weekly timeframe and the supertrend indicator is also indicating a bullish move, Observation of the above factors indicates that a bullish move in KCP is possible for targets up to Rs 155.
(Mitesh Karwa, Research Analyst, Bonanza Portfolio)
ETMarkets.com
Stop Loss: Rs 870
The price action in Paytm is in a prolonged sideways range between 923 and 830. This rangebound action is forming a bullish ascending triangle pattern. Whenever a price emerges out of a long-term, if the breakout succeeds it will result in a strong action. Paytm is showing signs of such a breakout.
(Manish Shah, SEBI registered Investment Advisor)
IANS
Stop Loss: Rs 29
IRB infrastructure is hovering around its all-time high for several months and despite repeated attempts the price has not managed to break above the zone at 32-33. In the last few weeks seems to be gathering strength as we see a couple of long green candles which are absorbing selling pressure. IRB could see a strong trending move it breaks and holds above the resistance at 33.
(Manish Shah, SEBI registered Investment Advisor)
ETMarkets.com
Stop Loss: Rs 524
The stock has broken out of its recent consolidation pattern. Furthermore, it has consistently remained above its crucial moving average. The daily RSI is exhibiting a bullish crossover. In the short term, it is anticipated that the stock will continue to rise.
(Rupak De, Senior Technical Analyst, LKP Securities)
Agencies
Stop Loss: Rs 2600
HDFC AMC has experienced a consolidation breakout on the daily timeframe, indicating an increase in positive sentiment. The stock has risen after forming a base around its previous congestion level. Additionally, it has consistently maintained its position above crucial moving averages. The stock appears to be in good shape for the short term.
(Rupak De, Senior Technical Analyst, LKP Securities)
ETMarkets.com
Agencies
