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Last Updated : Mar 14, 2018 09:08 AM IST | Source: Moneycontrol.com

Top buy or sell trading ideas by experts for March 14 which can return up to 14%

The range of 10,300-10,500 levels will remain crucial in the current expiry and the move is expected to remain volatile along with negative movement, as indicated by option open interest concentration. If Nifty falls below the 10,300 mark, it could correct to 10,100 levels on the back of further selling.

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The Nifty50 consolidated on Tuesday after 200-point rally seen on the first trading session of the week which was largely led by short coverings.

Derivative data reflects that at current level there are a lot of outstanding short position held in Nifty futures along with 10,500 and 10,600 call strikes.

Despite short covering rally we have not seen unwinding in 10,500 calls which indicates that the bearish scenario may continue.

The range of 10,300-10,500 levels will remain crucial in the current expiry and the move is expected to remain volatile along with negative movement, as indicated by option open interest concentration.

If Nifty falls below the 10,300 mark, it could correct to 10,100 levels on the back of further selling.

However, on the bounce, the index will face strong resistance at 10,475-10,500 levels.

On the technical ground, the next support is placed around 10,300- 10,320 levels.

Here is a list of top trading ideas by experts in the short term:

Shitij Gandhi, Senior Research Analyst at SMC Global Securities

Trent Limited: Buy | Target: Rs 385| Stop loss: Rs 315| Return 13%

After recovering sharply from its lower levels stock has been seen consolidating in range of Rs 310-325 from last four weeks which in turn formed symmetrical triangle formation on a daily interval.

However, in Tuesday's session, the triangle breakout along with marginally higher volumes has been witnessed which signals for bullish momentum to retain in coming sessions. Traders can accumulate the stock in a range of Rs 340-350 levels for the target of Rs 385 with a stop loss below Rs 315.

Avenue Supermarts Limited: Buy | Target: Rs 1466| Stop loss: Rs 1240 | Return 11%

The stock has taken support at its 100-days exponential moving average (DEMA) on its daily charts and risen sharply thereon to test Rs 1350 levels in recent past.

Additionally, the stock has also formed inverted head and shoulder formation on daily interval and given breakout above the neckline of the pattern formation. Traders can accumulate the stock in a range of Rs 1320-1340 for the upside target of Rs 1466 with a stop loss below Rs 1240.

V2 Retail Limited: Buy | Target: Rs 492| Stop loss: Rs 396| Return 14%

After testing Rs 500 levels in late 2017, the stock fell sharply down and slipped below its 200-days exponential moving average on daily charts.

However, V-shape recovery in prices has once again taken the stock above its short and long-term moving averages. In Tuesday's session stock has given symmetrical triangle breakout along with positive divergence on stochastic and RSI indicators.

Traders can accumulate the stock in a range of Rs 430-435 levels for the upside target of Rs 492 with a stop loss below Rs 396.

Analyst: Soumen Chatterjee, Guiness Securities

Indian Bank: Buy | Target: Rs 336| Stop loss: Rs 269| Return potential 14.7%

The stock has bounced back from lows after prices filled the gap, which was made on October 25, 2017 around Rs 270 levels.

Positive divergence is seen in Relative Strength Index (RSI) along with positive crossover in stochastic, which means the stock has made a temporary bottom and set for a decent bounce back.

Investors can accumulate in range of Rs 287-294 for the upside target of Rs 336 with a stop loss below Rs 269 on a closing basis.

Titan Company Ltd: Buy | Target: Rs 914 | Stop loss: Rs 815 | Return: 7.3%

The stock has given a consolidation breakout above Rs 840 levels with higher volume in daily scale. The Relative strength index (RSI) and MACD have given positive crossover and are in buy mode.

Traders can buy the stock at current level and add on dips around Rs 840-842 with a stop loss below Rs 815 for target of Rs 914.

Hexaware Technologies Limited: Buy | Target: Rs 423| Stop loss: Rs 360 | Return 10.2%

In daily scale, the stock has given a breakout on Monday from a symmetrical triangle pattern above Rs 366-367 levels. The Daily MACD has continued to remain in buy mode and Relative strength index (RSI) is showing upward momentum.

OBV—On Balance Volume is making a fresh high from the previous top and this indicates that price may move towards a new high in coming days. Accumulate in range of Rs 378-384 with a stop loss below Rs 360 (closing) for target of Rs 423.

NBCC (India) Limited: Buy | Target: Rs 223 | Stop loss: Rs 181 | Return 13.8%

After correcting significantly from its recent peak, the stock has made a Hammer-like candle on Monday around support zones followed by a strong up move on Tuesday with higher volume.

Positive divergence is seen in Relative Strength Index (RSI) and MACD has given positive crossover. One can buy the stock at current level and also add in dips to Rs 190 levels with the stop loss below Rs 181 (close) for target of Rs 223.

Pidilite Industries Ltd: Buy | Target: Rs 956 | Stop loss: Rs 870 | Return 6.22%

The stock has given breakout from symmetrical triangle pattern above Rs 896 levels with moderate volume in daily scale. The Daily Relative strength index showing upward momentum and MACD is making attempt to cross its signal line.

OBV—On Balance Volume is making a fresh high from the previous top and this indicates that price may move towards a new high. Traders can buy the stock in the range of Rs 895-900 with a stop loss below Rs 870 (close) for target of Rs 956.

Disclaimer: 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.
First Published on Mar 14, 2018 08:51 am
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