Expert Top Stocks to buy, returns up to 13%
Expert Top Stocks:
The Indian stock market saw a gap-up on the 19th of May, but was unable to maintain the gains and dropped sharply behind the bank and financial counter weaknesses along with strong sales in some of the heavy names like Reliance and Larsen and Toubro.
Call writers once again added strong open interest on the Derivatives front in the 9,000 Call strike, limiting sharp up the index.
8,800-9,000 range will critical on the technical front over the next sessions because we can see a swing of the battle between bullish and bearish continues.
Top 3 Stocks to Buy for next three to four weeks
The stock can trade on regular charts in a growing channel with a higher high and higher bottom. For the last few days, the exponential moving average at Rs 306 and Rs 323 was consolidated, respectively, between 100 and 200 days.
Experts suggest to buy the stock with the target price Rs 354 with stop loss Rs 285.
Godrej Consumer Products:
The stock took a V type recovery after supporting about Rs 485 and took a step above Rs 550 levels again.
At the present moment, the stock has shaped an inverted head and shoulder pattern on the daily charts and has created a breakout with slightly larger volumes that points to sustained stock growth.
Experts suggest to buy the stock with the Target price: Rs 627 | Stop loss: Rs 505.
After breakout over the symmetrical triangle pattern we witnessed a follow-up buy on the stock.
During this week, Fibonacci’s retracement of fall rates seen from Rs 220 to Rs 120 has grown by more than 61.8%, above its 100-day, exponentially moving average daily interval.
Experts suggest to buy the stock with the Target price: Rs 240 | Stop loss: Rs 185.
May 21st Stock Market Sensex and Nifty
May 21st Stock Market: On the fourth day of the week, the stock market trading with the bullish trend. The Sensex trades with a gain of 114.29 points reached a 30,932.90 level with 0.37% up. Whereas, Nifty traded with a gain of 39.70 points reached 9,106.25 level with 0.44% up.
In the border market, the S&P BSE Midcap traded with a gain of 85.62 points reached 11,363.84 level with 0.76% up. Whereas, S&P BSE SmallCap traded with a gain of 75.76 points reached 10,548.13 level with 0.72% up. At the same time, Nifty bank traded with a loss of 105.10 points reached 17,735.10 with 0.59% down.
Top Gaining Stocks: ITC, Hindalco Industries, Asian Paints, Hero Motocorp, and Maruti Suzuki India Ltd.
Top Losing Stocks: Bajaj Finserv, Bajaj Finance, NTPC, Indusind Bank, and Adani Ports Ltd.