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Top three stocks to buy which could give up to 10% return

Top three stocks to buy which could give up to 10% return

Top three stocks to buy which could give up to 10% return
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By CNBC-TV18 Sept 5, 2018 2:44:17 PM IST (Published)

The range of 11,500-11,800 levels for Nifty will remain crucial moving forward. The move is expected to remain volatile with a negative bias, as indicated by option open interest concentration.

Since the inception of September series, we have observed selling pressure in Nifty indices due to long unwinding at higher levels which clearly indicates discomfort in the market.

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The range of 11,500-11,800 levels for Nifty will remain crucial moving forward. The move is expected to remain volatile with a negative bias, as indicated by option open interest concentration.
A fall below 11,500 mark in Nifty futures may lead to some correction up to 11,400 levels on the back of further selling pressure.
On a bounce, the index will face strong resistance at 11,620-11,650 levels on the higher side. The overall data has turned slightly negative at the current scenario and more weakness can be expected as we move forward.
Here is a list of top three stocks which could give up to 10% return in next 1 month:
Gujarat Fluorochemicals: Buy| LTP: Rs 835| Target: Rs 922| Stop Loss: Rs 775| Return 10 percent
In the recent past, the stock has formed a rounding bottom pattern on the daily charts just below its 200-days exponential moving average and recovered sharply thereon to test 840 levels in short span.
We again saw buying momentum coming into the stock this week along with heavy volumes and positive divergences on the secondary indicators, which suggest for more upside in coming sessions.
Traders can accumulate the stock in a range of 830-840 for the target of 922 and a stop loss below 775.
Mahindra Logistics:  Buy| LTP: Rs 595| Target: Rs 655| Stop Loss: Rs 555| Return 10 percent
The stock has been forming a lower high on the daily charts and seen consolidating in a broader range of Rs 640-560 with captivating multiple support at its 100-days exponential moving average before witnessing a fresh breakout this week.
The stock has given a break above its falling trend line of the sloping channel along with marginally higher volumes. Traders can accumulate the stock in a range of Rs 590-600 for the upside target of Rs 655 and a stop loss below Rs 555.
MindTree : Buy| LTP: Target: Rs 1221| Stop Loss: Rs 1030| Return 9 percent
After consolidating in a broader range of 900-1100 for more than four months, the stock has given a breakout above the key resistance this week. The upside is well supported by larger volumes.
Additionally, the prices are sustaining well above its long and short-term moving averages on daily and weekly charts.
Traders can accumulate the stock in a range of 1100-1120 for the upside target of 1221 levels and a stop loss below 1030.
Disclaimer: The views and investment tips expressed by investment experts are their own and not that of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
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