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Podcast | Stock picks of the day: Top 4 stocks which could give 4-7% return in next 1 month

KPR Mill, Lupin, Cadila Healthcare and Torrent Power could give 4-7% return in the next 1 month.

September 10, 2018 / 10:14 AM IST
 
 
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Rajesh Palviya

Indian markets consolidated in a range of 300 points last week. It hit a low of 11,393 on 5th September but managed to recoup losses and closed 0.78 percent lower at 11,589.10 for the week ended 7 the September.

Rising crude oil prices, fall in rupee, escalating concerns over trade wars as well as rising India bond yields weighed on sentiment. The rupee touched as a fresh record low of Rs 72.10/USD in the week gone by.

Here is a list of top 4 stocks which could give 4-7% return in the next 1 month:

Close

KPR Mill Ltd: Buy| LTP: Rs 700.25| Target: Rs 728| Stop Loss: Rs 663| Return 4%

On the weekly chart, the stock has formed a "Double Bottom" - a short-term reversal pattern which signals a shift of short-term trend reversal to the upside.

This breakout is accompanied with a huge spurt in volumes which supports the bullish sentiments ahead.

The daily and weekly strength indicator RSI and the momentum indicator Stochastic both are in a positive terrain which supports upside momentum to continue in the near-term. The stock is well placed above its 20, 50 and 100-day SMA which supports bullish sentiments ahead.

Lupin Ltd: Buy| LTP: Rs 956.65| Target: Rs 1,022| Stop Loss: Rs 915| Return 7%

On the weekly chart, the stock has formed an "Inverse Head & Shoulder" - a short-term reversal pattern which signals a shift of short-term trend reversal to the upside.

This breakout is accompanied by an increase in volumes which supports bullish sentiments ahead.

The daily and weekly strength indicator RSI and the momentum indicator Stochastic both are in a positive terrain which supports upside momentum to continue in the near-term. The stock is well placed above its 20, 50 and 100-day SMA which supports bullish sentiments ahead.

Torrent Power Ltd: Buy| LTP: Rs 269.20| Target: Rs 290| Stop Loss: Rs 258| Return 7%

On the weekly chart, the stock has formed a "Double Bottom" - a short-term reversal pattern which signals a shift of short-term trend reversal to the upside.

This breakout is accompanied with a huge spurt in volumes which supports the bullish sentiments ahead.

The daily and weekly strength indicator RSI and the momentum indicator Stochastic both are in a positive terrain which supports upside momentum to continue in the near term. The stock is well placed above its 20, 50 and 1000-day SMA which supports bullish sentiments ahead.

Cadila Healthcare Ltd: Buy| LTP: Rs 425.85| Target: Rs 449| Stop Loss: Rs 398| Return 5%

With current week's strong gains the stock has decisively broken out from its down sloping channel breakout at 402 levels on the closing basis. This breakout is accompanied with rising volumes which supports bullish sentiments ahead.

The daily and weekly strength indicator RSI and the momentum indicator Stochastic both are in a positive terrain which supports upside momentum to continue in the near term. The stock is well placed above its 20, 50 and 100-day SMA which supports bullish sentiments ahead.

Disclaimer: The author is Head – Technical & Derivatives Analyst, Axis Securities Ltd. The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Moneycontrol News
first published: Sep 10, 2018 09:30 am

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