Hot Stocks gives 16% returns in the short term
Hot Stocks gives 16% returns:
On March 31 the Indian market rebounded sharply, following the global markets, having experienced a decline in the previous session. This week the Nifty recovered 8,575 after low-level buying such as Reliance Industries, HDFC Twins and Infosys observed in heavyweights.
On the technical front, however, 8,800 to 9,000 levels for Nifty and Bank Nifty still trading on a Bearish trend, while 19,500-20,000 levels for Bank Nifty expected to act as a strong hurdle.
3 stocks give 16% returns in the coming weeks:
CESC: The stock dropped down over the past two months as prices fell sharply from Rs 700 to Rs 370. However, on the technical front, the stock checked on monthly charts its equivalent, an exponential average of 200- day and bounced sharply back in order to say above Rs 400 in a week.
The last four-five sessions at present have shown some consolidation and the stock has also formed the pattern of Doji star on the daily charts.
The expert suggested to buy the stock with a target Rs 465, with stop-loss Rs 365.
Hindustan Unilever (HUL): The stock seen a V-shaped rebound after a drastic drop from Rs 2 250 to Rs 1,800, and on 31 March it hit a new high for 52-week.
The improvement in V shape was seen with slightly higher amounts, suggesting a further upward step in the next sessions.
The expert suggested to buy the stock with a target Rs 2,670, with stop-loss Rs 2,050.
Nestle India: In recent weeks, after the exponential 100-day average movement on the weekly charts, this stock also recovered almost V-shape.
The stock showed strength since the recovery with some strong volumes seen from the lower rates, suggesting a long upturn in prices, despite the weak market sentiments.
At the present juncture, however, Rs 16,800 faced resistance but positive on secondary oscillators indicate that in the coming sessions the stock surpasses its 52-week Rs 16,835 high.
The expert suggested to buy the stock with a target Rs 18,370, with stop-loss Rs 14,000.