Day Trading Guide: HDFC Bank among 4 stock recommendations for Monday
1/5
Stock Ideas
The benchmark indices extended their losing streak to the third session as the Sensex ended 111 points or 0.21 per cent lower at 52,907.93. The Nifty fell 28.20 points but closed above the 15,700 mark.
"For the coming week, there are many hurdles for the index Nifty on the upside. Initially the swing high near 15,900 would be a crucial resistance which would be followed by gap area of 16,000/16,200. On the downside, 15500 could be a strong support since we are witnessing a hammer like formation. Traders are advised to remain stock specific and light since the secondary trend still remains weak," said Mehul Kothari, AVP, Technical Research, Anand Rathi Shares & Stock Brokers.
"For the coming week, there are many hurdles for the index Nifty on the upside. Initially the swing high near 15,900 would be a crucial resistance which would be followed by gap area of 16,000/16,200. On the downside, 15500 could be a strong support since we are witnessing a hammer like formation. Traders are advised to remain stock specific and light since the secondary trend still remains weak," said Mehul Kothari, AVP, Technical Research, Anand Rathi Shares & Stock Brokers.
2/5
Sunteck Realty
Buy: Rs505
Target: Rs 550
Stop Loss: Rs 480
The stock has been consolidating in a band of 400-500. Finally we are witnessing a range breakout in the stock which indicates fresh upside.
Analyst: Mehul Kothari, AVP, Technical Research, Anand Rathi Shares & Stock Brokers
Target: Rs 550
Stop Loss: Rs 480
The stock has been consolidating in a band of 400-500. Finally we are witnessing a range breakout in the stock which indicates fresh upside.
Analyst: Mehul Kothari, AVP, Technical Research, Anand Rathi Shares & Stock Brokers
3/5
Torrent Pharma
Buy: Rs 2930
Target: Rs 3100
Stop Loss: Rs 2830
The stock has managed to give a convincing close above 200 DSMA and is on the verge of a range breakout which would confirm above the 2930 mark. The rising ADX (14) on the daily scale suggests faster momentum above 2930.
Analyst: Mehul Kothari, AVP, Technical Research, Anand Rathi Shares & Stock Brokers
Target: Rs 3100
Stop Loss: Rs 2830
The stock has managed to give a convincing close above 200 DSMA and is on the verge of a range breakout which would confirm above the 2930 mark. The rising ADX (14) on the daily scale suggests faster momentum above 2930.
Analyst: Mehul Kothari, AVP, Technical Research, Anand Rathi Shares & Stock Brokers
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4/5
Federal Bank
Buy: Rs 94
Target: Rs 98/100
Stop Loss: Rs 90
After a large consolidation, the stock has given a breakout on the daily chart with rising volumes. The Momentum oscillator has shown a reversal from the oversold territory. The stock has breached its 200DMA which confirms the change in trend and the momentum is likely to continue on the upside as long as the support of 89 is held on the downside.
Analyst: Kunal Shah-Senior Technical & Derivative Analyst at LKP Securities
Target: Rs 98/100
Stop Loss: Rs 90
After a large consolidation, the stock has given a breakout on the daily chart with rising volumes. The Momentum oscillator has shown a reversal from the oversold territory. The stock has breached its 200DMA which confirms the change in trend and the momentum is likely to continue on the upside as long as the support of 89 is held on the downside.
Analyst: Kunal Shah-Senior Technical & Derivative Analyst at LKP Securities
5/5
HDFC Bank
Buy: Rs 1353
Target: Rs 1380/1394
Stop Loss: Rs 1325
The stock on the Friday’s trading session witnessed strong reversal from the lower end indicating a major support at 1325 level. The stock is trading in an uptrend with higher high and higher low formations intact. The momentum oscillators are in the buy zone which confirms the internal strength of stock
Analyst: Kunal Shah-Senior Technical & Derivative Analyst at LKP Securities
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Target: Rs 1380/1394
Stop Loss: Rs 1325
The stock on the Friday’s trading session witnessed strong reversal from the lower end indicating a major support at 1325 level. The stock is trading in an uptrend with higher high and higher low formations intact. The momentum oscillators are in the buy zone which confirms the internal strength of stock
Analyst: Kunal Shah-Senior Technical & Derivative Analyst at LKP Securities
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)