Swing calls that can give sharp returns in firm market

MUMBAI: The Indian markets are witnessing broad based buying activity after a profit booking session on the back of positive global peers and a firm rupee.

The market is likely to consolidate in the near term and take cues from rupee and quarterly results for direction, say analysts.

According to Ashwani Gujral, Fund Manager, ashwanigujral.com, the Nifty is ranged between 5,750-5,900. It is likely to move up after taking support at 5,750. Strong supports at 5,500-5,600 will be tough to break.

An upmove will be possible once the Nifty decisively breaks above 5,900, he says.

Following are his swing trade recommendations which can give good returns in the short term.

Buy Surya Roshni with a stop loss of Rs 66 for a target of Rs 88. The momentum looks strong in the short-term.

Buy Fortis Healthcare with a stop loss of Rs 82 for a target of Rs 110. The stock is showing strength on the charts.

Buy Tamil Nadu Newsprint with a stop loss of Rs 88 for a target of Rs 117. It has moved up and is likely to continue its upward journey.

Buy Pricol with a stop loss of Rs 16 for a target of Rs 22. The stock is showing strength on the charts and may give good returns.
Note: The recommended stocks are to be held for a period of 2-3 sessions with strict stop loss. If they don't move in the mentioned time-frame, traders are advised to book profits.



Disclaimer: The above recommendations are based on technical views and information given by the analyst. Please consult your financial advisor before taking any position in the stocks mentioned.