After beginning the New Year with a bang, headline indices are once again inching towards the all-time highs of October 2021. Ahead of key upcoming events that may influence the market, including the Union Budget and state elections, are there any short-term opportunities for traders out there? Analysts have handpicked 10 bets to make use of the current juncture on Dalal Street. On their playbook now are stocks such as IRCTC, BASF, Century Textiles and Phillips Carbon Black.
1 / 10
Buy BASF shares | Target price: Rs 3,330/3,565 | Stop loss: Rs 2,871 | The stock appears to be in a sharp uptrend on the weekly chart following minor weakness last week. BASF shares appear to be making sustainable higher highs and higher lows, having crossed the immediate hurdle of the weekly 10- and 20-period exponential moving averages at Rs 3,000 recently. Volume has started to increase in the stock, with the overall chart pattern suggesting a long trading opportunity. One may look to create positional longs, and add on dips to Rs 2,960. (Analyst: Nagaraj Shetti, HDFC Securities)
2 / 10
Buy Jasch Industries shares on dips | Target price: Rs 200-250 | Stop loss: Rs 105 | The stock recently gave a weekly symmetrical triangle breakout to make a high of Rs 148 with good volume. The spike in the Jasch stock came after some six months of rangebound movement. Technical indicators RoC, Demand Index and ADX Indicator suggest a possible upmove ahead. One can initiate buys around the Rs 118-127-138 levels. (Analyst: Bharat Gala, Ventura Securities)
3 / 10
Buy Concor shares | Target price: Rs 693 | Stop loss: Rs 599 | The Nifty PSE index appears to be rebounding from its near 100-day exponential moving average, and at the cusp of breaking above its December high. Container Corporation is rebounding from a base around its 200-day exponential average and offers a favourable risk-reward setup. It is expected to resume its upmove towards Rs 693, which is the 61.8 percent retracement level of its entire decline from Rs 754 to Rs 582. One can buy the stock in the range of 625-637. (Analyst: Pankaj Pandey, ICICI Securities)
4 / 10
Buy Can Fin Homes shares | Target price: Rs 720 | Stop loss: Rs 510 | The stock has reversed from the lower band of an ascending channel, and trading near its 200-day moving average. One can buy Can Fin Homes shares above Rs 610. (Analyst: Vijay Dhanotiya, CapitalVia Global Research)
5 / 10
Buy IRCTC shares on dips | Target price: Rs 1,200-1,400-1,600 | Stop loss: Rs 630 | Profit booking has brought the stock to a low of Rs 650 in October after a rally in the past few months. There appears to be buying interest in the stock, as seen in two sessions with good volume. Technical indicators are giving signs of more upside going forward, and the 200-day moving average appears to remain in a rising mode. Longs can be initiated in the range of Rs 800-750. (Analyst: Bharat Gala, Ventura Securities)
6 / 10
Buy Century Textile and Industries shares | Target price: Rs 1,200-1,400 | Stop loss: Rs 770 | The stock has given range breakouts recently, making a high of Rs 956 with good volume. Its 200-day moving average appears to be in a rising mode continuously. Technical indicators Vortex and MACD suggest a possible upmove ahead. One can initiate longs in the range of Rs 822-857-910. (Analyst: Bharat Gala, Ventura Securities)
7 / 10
Buy SAIL shares | Target price: Rs 121 | Stop loss: Rs 104.5 | The Nifty Metal appears to be rebounding from a base at its 100-day exponential moving average, having witnessed a healthy retracement in the past three months. SAIL is expected to outperform going forward. The stock rebounded after taking support at its 200-day exponential moving average, which is coinciding with a multi-year breakout area around Rs 100-105 levels. One can expect the stock to resume its upmove towards Rs 121 in the coming weeks, and buy in the range of Rs 109-112. (Analyst: Pankaj Pandey, ICICI Securities)
8 / 10
Buy Amber shares | Target price: Rs 3,950 | Stop loss: Rs 3,200 | The stock has reversed after taking support at its 200-day exponential moving average. One can consider going long on Amber above Rs 3,610. (Analyst: Vijay Dhanotiya, CapitalVia Global Research)
9 / 10
Buy Phillips Carbon Black shares | Target price: Rs 261, Rs 275| Stop loss: Rs 232 | The stock appears to be making a higher top and higher bottom formation and giving signs of bullishness. The short-term trend has turned positive, and momentum indicator RSI is suggesting strength in the current uptrend. One can buy at Rs 247.55 and average at Rs 238. (Analyst: Siddharth Deshpande, HDFC Securities)
10 / 10
Buy Apollo Hospitals shares | Target price: Rs 6,200 | Stop loss: Rs 4,350 | The stock has taken support at its 100-day exponential moving average and reversed from support at the lower band of an ascending channel. Technical indicators MACD and RSI are suggesting that momentum in Apollo Hospitals shares is likely to continue. One can buy the stock above Rs 5,150. (Analyst: Vijay Dhanotiya, CapitalVia Global Research)
Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
