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A bullish reversal stokes hopes for further rise in the Nifty50 and, if it comes true, then 19,800-20,000 can be a possibility in the coming days, with immediate support at 19,600-19,500 and crucial support at the 19,300 levels, experts said
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Higher high- higher low formation continuously over the last 5 weeks supports this medium-term bull hypothesis. This medium-term bull trend key support level is a gap formed between 11,231 and 11,168.
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"We are structurally positive on Thomas Cook and expect strong contribution from Sterling Holidays in coming years which would lead to likely rerarting of the stock and may trade at premium multiples," says Akash Jain, Vice-president, Equity Research at Ajcon Global Services.
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"MACD has given a positive crossover with its average above neutral level of zero suggesting a change of trend from the current sideways pattern to upside. Thus, the stock can be bought at current level and on dips to Rs 280 with a stop loss below Rs 270 for target of Rs 320," says Ashish Chaturmohta, Head Technical and Derivatives at Sanctum Wealth Management.
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Here is a list of top three stocks which could give up to 15% return in short term.
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"The index has resistance zone at 10,630-10,700 levels. In Nifty options, strike price 10,700 Call has the highest open interest (OI) in Calls, suggesting market could head towards 10,700 levels but likely to face resistance this level," says Ashish Chaturmohta, Head Technical and Derivatives at Sanctum Wealth Management.
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Vinay Rajani, Technical Analyst, PCG Desk at HDFC Securities recommends buying Thomas Cook with target at Rs 325 and stop loss at Rs 260 and a buy also on NRB Bearing with target at Rs 195 and stop loss at Rs 168.
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"Above 10,250 levels, the index can rally towards 10,420-10,500 levels where next cluster of resistances are seen. On the downside index has immediate resistance at 10,095 levels, breaking below this next support is at 9,950-9,920 levels," says Ashish Chaturmohta, Head Technical and Derivatives at Sanctum Wealth Management.
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Shahina Mukadam, Independent Market Expert is of the view that one may buy Motherson Sumi with a target of Rs 290.
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Ashwani Gujral of ashwanigujral.com recommends buying HDFC Bank, ICICI Bank and Axis Bank.
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Top 10 stocks which could give up to 20% return in the next 3-4 weeks.
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Kunal Saraogi of Equityrush advises buying Voltas with a target of Rs 640.
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Mitessh Thakkar of miteshthacker.com recommends selling Cipla with a stop loss of Rs 590 and target of Rs 564 and advises buying NIIT Tech with a stop loss of Rs 854 and target of Rs 900.
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Ashwani Gujral of ashwanigujral.com advises buying Zee Entertainment, Thomas Cook and HCC.
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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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Sharmila Joshi of sharmilajoshi.com is of the view that one may hold Thomas Cook.
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Ashwani Gujral of ashwanigujral.com suggests buying Thomas Cook, UPL and PC Jeweller and feels that L&T Finance Holdings may test Rs 225.
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Ashwani Gujral of ashwanigujral.com recommends selling Torrent Pharma, Just Dial and Oriental Bank of Commerce and buy JM Financial and Thomas Cook.
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Ashwani Gujral of ashwanigujral.com recommends buying Reliance Industries, Hindustan Unilever, Reliance Capital, SREI Infrastructure, Thomas Cook and SRF.
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Ashwani Gujral of ashwanigujral.com is of the view that one can sell JSW Steel and Wockhardt and buy Thomas Cook.
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Ashwani Gujral of ashwanigujral.com recommends buying Prestige Estates, Thomas Cook and Ramco System.
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Ashwani Gujral of ashwanigujral.com recommends buying Ballarpur Industries, Sobha, Gujarat Gas, Dish TV and Thomas Cook.
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Mitessh Thakkar of miteshthacker.com suggests buying Infosys, Ashok Leyland, Adani Power and Thomas Cook.
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In an interview to CNBC-TV18, Deven Choksey, MD of KRChoksey Investment Managers shared his readings and outlook on specific stocks that came out with good quarterly numbers.
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Ashish Kyal of Waves Strategy Advisors advises buying Grasim Industries with a target of Rs 930.
