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Hot Stocks: Here’s why Laxmi Organics, D-Mart & Welspun Corp can rally 10-17%

If the index manages to sustain above 14580-14500, it may see a further extension to 14750 zone and above that, we may see a fresh breakout which can push the index towards 15,000 mark

April 28, 2021 / 07:44 AM IST
 
 
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Indian market continued its winning streak for the second consecutive day on April 27 rising over 1 percent. Nifty opened gap-up and closed the day at 14,655.

If the index manages to sustain above 14580-14500, it may see a further extension to 14750 zone and above that, we may see a fresh breakout which can push the index towards 15,000 mark.

Here is a list of top stocks for the next 3-4 weeks:

Laxmi Organics: Buy at Rs 195 | LTP: Rs 195 | Target: Rs 230 | Stop Loss: below Rs 178 on closing basis| Upside 17%

On an hourly chart, the price has moved above its strong hurdle zone of Rs 195. We can also consider this as a sort of double bottom breakout.

Strong volume has been witnessed in the recent up move along with fresh breakout which hints that the stock is all set to move northwards in the near to short term.

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The immediate hurdle on the higher side is placed around Rs 207, and once we cross the said levels, a fresh breakout can be seen towards Rs 230-250 levels.

D-Mart: Buy at Rs 2,827 | Target: Rs 3100 | Stop Loss below Rs 2675 on closing basis| Upside 10%

The stock has shown a good bounce from its strong demand zone. It has formed a morning star candle pattern on the daily chart which stands for a strong bullish reversal.

On the immediate basis, Rs 2900 will act as a stiff hurdle on the higher side, and once we cross above that, we may see a strong move which can push prices towards Rs 3100-3200 in the near to short term.

Welspun Corp: Buy at Rs 152 | Target: Rs 165-175 | Stop Loss below Rs 140 on closing basis | Upside 15%

The stock has previously given a breakout from its cup and handles pattern and has recently moved after retesting the breakout zone.

Last three candle shows a strong bullish momentum with incremental volume activity which hints that we may see an extension in the current up move towards Rs 160 on immediate basis and Rs 175 on an overall basis.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Rohit Singre is the Equity - Senior Research Analyst at LKP Securities. He is majorly responsible for developing the corporate business & formulating strategies for LKP in the equity segment.

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