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Last Updated : Jun 14, 2017 09:49 AM IST | Source: Moneycontrol.com

4 hot stock picks from Kotak Securities

TCS, Siemens, Godrej Properties and Naukri are on the radar of Kotak Securites

 
 
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Shrikant Chouhan Senior Vice President - Technical Research at Kotak Securities recommends the following stocks:

 TCS: BUY: 2451.55 / Stop-Loss: 2390 / Target: 2600

Nifty IT Index moved from the lows of 9900 to the highs it made recently of 11000. The index has retraced a significant portion of the up-run and is now available at supports. TCS has been an outperformer in the sector and the chart of it is very similar to that of the index. Momentum indicators are also in oversold territory.

Close

TCS-Kotak Sec

 

SIEMENS: BUY: 1327.80/ Stop-Loss: 1280/ Target: 1425

On the weekly charts, stock has formed a double bottom, which was placed at 1000 levels. Confirmation of the pattern, when the stock broke above 1350. Momentum indicators have also confirmed the higher top, which is a bullish sign. The stock is now in throwback mode, and should be accumulated at such supports.

Siemens Kotak Sec

 

Godrej Properties: BUY: 533.20 / Stop-Loss: 519/ Target: 575

Nifty Realty Index has outperformed the Nifty by 32 percent in 2017. Godrej properties is consistently forming higher-high – higher low pattern on the daily time scale. The surge in volumes indicates interests of major players. Also, the stock is forming a flag formation on daily time scale, which is a continuation pattern and bullish for the stock. The 20-day SMA is also acting as proxy for a trend line and one can use the same to accumulate positions at support levels.

 Godrej Properties Kotak Sec

INFO EDGE (INDIA): BUY: 1019.20/ Stop-Loss: 940 / Target: 1150

Stock has delivered close to 40 percent returns in the past couple of months, and has had a vertical rally from 800 to 1128. It had multiple resistances placed around 1015 levels, which it broke with huge rise in volumes. Resistance of 1015 would act as a support for the stock, and long positions should be taken. One can also buy the stock it 2 tranches, one at current levels and balance at 970 for a medium term target of 1150.

Naukri Kotak Sec

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol are their own and not that of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
First Published on Jun 14, 2017 09:49 am
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