More than the earnings announcements, investors and traders will focus on the outlook provided by the management, especially for consumption-driven companies.
Indian markets witnessed yet another volatile trading session on October 14 before ending with decent gains.
The Nifty closed 0.2 percent higher at 11,330 levels. The broader markets performed largely in line with the benchmark, with the BSE Midcap and Smallcap ending with gains of 0.4 percent and 0.1 percent, respectively.
Among the sectors, except IT that ended lower by 0.8 percent, all the other indices ended with healthy gains, with realty, auto and healthcare putting up the best show.
The signs of trade tensions easing between the US and China has provided relief to investors globally. On the domestic front, the earnings season is likely to dictate trend for the Indian markets, as some of the front-liners will declare their results this week.
We expect that more than the earnings announcement, investors and traders will focus on the outlook provided by the management, especially for consumption-driven companies.
A list of top three stocks at could give 7-10% return in the next three-four weeks:
DLF has been trading in a broader range with the bias on the negative side. Though it has witnessed an intermediate rebound in between but it lacked sustainability.
In line with the past instances, it has again recovered and is now offering a fresh shorting opportunity to those who missed the chance earlier.Traders can initiate shorts in a given range of 156-158. It closed at 154.65 on October 14, with gains of more than 6 percent.
After a sharp correction from its record high, BEL has been rebounding for the last eight months. After the marginal dip, it has recovered sharply on October 14 to close at 108.95 and formed a fresh buying pivot on the daily chart.
The current chart formation, combined with the positioning of indicators, is adding to the positivity. We advise initiating fresh longs in the levels of 107-109.
Godrej Consumer Products has been gradually rebounding for the last one month, after testing its crucial support zone of 200-EMA on the weekly chart.
It is consolidating in a range and likely to post a breakout from the same. We advise not to miss this buying opportunity and accumulate within 688-693 zone. It closed at 690.70 on October 14.
(The author is VP Research, Religare Broking)Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.