Moneycontrol Be a Pro
Get App
Last Updated : Sep 28, 2018 08:31 AM IST | Source: Moneycontrol.com

Podcast | Stocks picks of the day: HCL Tech among 3 stocks which could give 2-8% return in near term

Technically, the index formed a Bearish Candle on the daily scale which suggests that bears are putting pressure at higher levels.

Moneycontrol News @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Mustafa Nadeem

The Nifty50 index opened positive but failed to hold above 11,080 zones and witnessed selling pressure towards 10,950 zones. The index closed 76 points lower at 10,977 on Thursday.

Technically, the index formed a Bearish Candle on the daily scale which suggests that bears are putting pressure at higher levels.

Close

Here is a list of top three stocks ideas which could give up to 8% return in the near term:

Chennai Petro: Buy| LTP: 281| Target: Rs 305| Stop Loss: Rs 270| Return 8%

The stock is consolidating at levels of 270 - 280 while on the higher timeframe charts a possible formation of the double bottom is seen. We expect it to have bullish price action with target Rs 305 and a stop loss at Rs 270

HCL Technologies: Sell| LTP: Rs 1090| Target: Rs 1050| Stop Loss: Rs 1120| Return 4%

The stock after a bullish rally has made a bearish engulfing pattern on the daily charts. The chart also suggests overbought formation which is a leading indicator with bearish divergence. We expect it to correct and revert to mean with a stop loss placed at Rs 1120 and a target of Rs 1050.

Shriram Transport Finance Company: Sell| LTP: Rs 1150| Target: Rs 1125| Stop Loss: Rs 1185| Return 2%

The stock is in a bearish trend making a lower top and lower bottom formation on daily charts. A recent pullback rally is seen on the daily chart though price action which continues to remain in bears grip as it is below short-term moving averages.

A bearish candle post a Doji indicates an exhaustion of bulls and price may dive to lower levels of a target of Rs 1,125 and a stop loss placed at Rs 1,185.

Disclaimer: The author is CEO, Epic Research. The views and investment tips expressed by investment expert 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.

The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Sep 28, 2018 08:09 am
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant