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Last Updated : Dec 27, 2017 09:37 AM IST | Source: Moneycontrol.com

Top 4 stocks which can give up to 25 percent return by January 2018-end

Currently, Nifty Bank is going through a consolidation phase following which it may resume the uptrend to move in line with the headline Index.

 
 
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Aditya Agarwala

YES Securities 

The Nifty50 index resumed its upward journey to make a new life-time high after forming a bullish AB=CD pattern. Further, it is approaching the upper end of the Broadening Wedge pattern placed at 10,705.

A sustained trade above the 113 percent Fibonacci retracement level of the entire corrective wave placed at 10,550 can extend the current up move to levels of 10,640-10,705.

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However, a trade below 10,410 may halt the current rise triggering intermediate correction 10,250-10,142. Moreover, Nifty Bank continues to underperform the headline Index indicating a clear divergence in trends.

The Nifty Bank also needs to make new highs in line with the headline Index to confirm the bull trend dominant in the markets. Failure to do so may lead to corrections.

Currently, Nifty Bank is going through a consolidation phase following which it may resume the uptrend to move in line with the headline Index.

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Here is a list of top 4 stocks which can give up to 25% return in the next 3-4 weeks:

Sintex Plastics Technology Ltd: BUY| Target Rs102| Stop Loss Rs74

On the daily chart, Sintex Plastics Technology Ltd. (SPTL) has broken out from a downtrend line resistance triggering a bull trend reversal (as indicated on chart). A sustained trade above Rs82 i.e. recent consolidation highs on higher volumes can extend the up move.

On the weekly chart, the stock has turned upwards after forming a bullish engulfing pattern affirming bullishness building up.

The relative strength index (RSI) and MACD are also favoring the bulls. The stock may be bought in the range of Rs81-82 for targets of Rs93-102, keeping a stop loss below Rs74.

Thomas Cook (India) Ltd: BUY| Target Rs295| Stop Loss Rs228

On the weekly chart, Thomas Cook (India) Ltd. (THOMASCOOK) is on the verge of a breakout from the neckline of an Ascending Triangle pattern triggering a bull trend reversal on cards.

The neckline of the pattern is placed at Rs256, and a sustained trade above the neckline can prolong the up move. On the daily chart, the stock has broken out from a consolidation pattern with healthy volumes affirming bullishness.

The relative strength index (RSI) has turned upwards breaking out of the upper band of the Bollinger Bands suggesting higher levels in the coming trading sessions. The stock may be bought in the range of Rs247-251 for targets of Rs281-295, keeping a stop loss below Rs228.

Tata Motors Ltd. (DVR): BUY| Target Rs285| Stop Loss Rs226

On the weekly charts, Tata Motors Ltd. (DVR) (TATAMTRDVR) has broken out from the channel pattern triggering a resumption of the bull trend. A sustained trade above Rs245 can extend the uptrend in the coming trading sessions.

The RSI has turned higher breaking out of the Bollinger Bands and MACD has broken out of its trigger line suggesting higher levels.

The stock may be bought in the range of 240-243 for targets of 264-285, keeping a stop loss below 226.

Ashiana Housing Ltd: BUY| Target Rs220| Stop Loss Rs169

On the weekly chart, Ashiana Housing Ltd. (ASHIANA) is on the verge of a breakout from a consolidation channel suggesting bullishness building up in the stock.

The neckline of the pattern is placed at 184; a sustained trade above 184 with healthy volumes can trigger a breakout. On the daily chart, it has broken out from a consolidation pattern affirming strength in the stock portending to higher levels in the coming sessions.

The RSI is making higher highs and higher lows post breaking out of a Bollinger Band squeeze suggesting upward moment dominant in the stock. The stock may be bought in the range of 182-184 for targets of 205-220, keeping a stop loss below 169.

Disclaimer: The author is Technical Analyst, YES Securities (I) Ltd. 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.

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First Published on Dec 27, 2017 09:37 am
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