Two stocks to buy, recommended by MarketSmith India
HDFC Bank: Current market price ₹ 1,666.05| Buy range ₹ 1,640–1,670| Profit goal ₹ 1,840| Stop loss ₹ 1,590| Timeframe 2–3 Months
Bharti Airtel: Current market price ₹ 1,631.75 | Buy range ₹ 1,610–1,635| Profit goal ₹ 1,850| Stop loss ₹ 1,558| Timeframe 2–3 Months
Three stocks to buy, recommended by Ankush Bajaj
BAJAJHLDNG: Buy at ₹11,286; target price ₹11,500-11,615; stop loss ₹11,144.
After a gap-up opening, the stock rallied almost 4.5% yesterday and closed above 11,000, holding that level firmly. Momentum in the stock remains positive, indicating a good bullish trade setup.
WIPRO: Buy at ₹310; target price ₹325-335; stop loss ₹304
The IT index outperformed the market, with Wipro stock rallying almost 3.6%. It is expected to touch 325-335. Additionally, the RSI is above 60 on the hourly charts, indicating bullish momentum in the stock.
Also read | Oberoi Realty: Why investors have little room for optimism
HDFCBANK: Buy at ₹1,666; target price: ₹1,715; stop loss ₹1,647
HDFC Bank posted strong numbers, and the rally is expected to continue for a few days. The stock has bounced back from a strong demand zone of ₹1620-1640. This rally could extend beyond ₹1,700, making for a good long trade with low risk.
Three stocks to buy, recommended by NeoTrader’s Raja Venkatraman
Britannia Industries Ltd: Buy above ₹4,960 | Stop ₹4,885 | Target ₹5,350
The FMCG sector is going through a rough patch and this stock is showing some signs of bottoming out as the rounding at lower levels is attracting some buying interest. The constant higher lows are slowly but steadily reassuring of some bullish momentum getting back into this counter. With a potential for more upside one can consider going long.
Also read: Astronomical gains in penny stocks under Sebi lens
Coromandel International Ltd: Sell on rally towards ₹1,830 | Stop ₹1,865 | Target ₹1,775
As weakness continues to build for the last few sessions, the breach of support with a long body candle is hinting at some downside in the days ahead. The prevailing negative sentiment is prompting us to reevaluate the upcoming trends. Selling on every rise within the resistance zone around 5,070 appears beneficial for prices. Currently positioned to descend beyond the cluster lows, it might be a good strategy to consider short-selling on rallies.
NESCO Ltd: Buy above ₹1,040 | Stop ₹1,020 | Target ₹1,150
NESCO, an industrial machinery manufacturer has been undergoing some volatile scenario saw a sharp upside on Wednesday as the momentum on the descent as the trends began losing its steam since the start of the year. As the prices are steadily higher highs for the last few days on Daily charts the trends indicate that the bullish momentum can persist. With a long body candle closing on Wednesday showing some promising signs look for further upside.
Also read | Dixon Tech: A flurry of acquisitions, collaborations, and capacity expansions
About the analysts: Ankush Bajaj is a Sebi-registered research analyst (registration number INH000010441). Raja Venkatraman is co-founder, NeoTrader. MarketSmith India is a stock research platform.
Raja Venkatraman is co-founder, NeoTrader.
Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.