Top 8 stocks that can make money in the market: Experts View

Top 8 stocks that can make money in the market: Experts View

Top 8 stocks that can make money in the market: Experts View

Top 8 stocks: The stock market was trading bearishly in the last 2 weeks. However, it is very difficult for the traders and analysts to come up with money making ideas in the present situation. The Sensex and Nifty both down by almost 9% in the last week, the indices entered into the bear’s territory. 

On the other side, the early trend of both Sensex and Nifty reported a bullish trend in the stock market. But, after a bullish trend, the stock market collapsed in the afternoon session. The Sensex lost 907.83 points with a 2.87% decrease and reached a 30,475.84 level. While Nifty lost 246.35 points with a 2.68% decrease and reached 8,951.05 level.

In this present situation, we expect these 8 stocks to perform well in the stock market for the next few weeks. 

Shrikant Chouhan, SVP Technical Research, Kotak Securities.

Escorts | Buy | Target price Rs 754

The stocks of the company expects a strong support zone within the range of Rs 580-590 level in 200 days simple moving average. Whereas, the company reported a bearish trend in the stock market with a 10% fall in the last week. The company formed a “Bearish harami Candlestick pattern” in the Daily chart.

However, the expert suggests buying the stock within the range of Rs 690 and targets for Rs 745. The companies stop-loss at Rs 680.

HDFC Bank | Buy | Target price Rs 1135

The stocks of the company available at multiple support zones like retracement support, 200 weekly simple moving average support, etc. The shares of the bank fall by almost 10% in the last two weeks. The HDFC Bank formed a Bearish harami Candlestick pattern in the daily chart.

However, the expert suggests buying the stock within the range of Rs 1,080 and targets for Rs 1,135, and stop-loss at Rs 1,040.

Manappuram Finance| Buy| Target price Rs 142

The company witnessed sell-offs over the past few weeks. Whereas, the company’s strong zone stands at Rs 120 and has a support line for the same. The shares of the company raised almost 10% in the last two weeks of the stock market. The company formed a Bearish piercing Candlestick pattern in the daily chart.

However, the expert suggests buying the stock at the current level and targets for Rs 142 and stop-loss at Rs 130.

Jay Thakkar, head of technical and derivatives research, Anand Rathi Shares and Stock Brokers

Reliance Industries| Buy| Target price Rs 1,216| Stop loss Rs 1,020

The company shares reporting a bearish trend in the last few weeks. However, the stocks will perform well in the strong support line.  The company formed a Bearish piercing Candlestick pattern in the daily chart. Whereas in the Weekly chart, it formed a Bearish gap down Candlestick pattern.

However, the expert suggests buying the stock at the current level and targets for Rs 1,216 and stop-loss at Rs 1,020.

Jindal Steel | Buy| Target price Rs 150

The company stock faces a bearish performance it falls almost 38.2%, hence it is likely to come back until it reached Rs 137 – Rs 150 in the short term. The company formed a Bearish piercing Candlestick pattern in the daily chart.  The expert suggests buying the stock and targets for Rs 150 and stop-loss at Rs 108.

UPL| Buy | Target price Rs 465

The company stocks formed a temporary bottom and wave-C bounce in the short-term. The company formed a Three black crows Candlestick pattern in the Monthly chart.  However, the expert suggests buying the stock at the current level and targets for Rs 465 and stop-loss at Rs 390.

Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in

HDFC|Buy| Target price Rs 2,220

We expect a strong reversal of the share value that covers the three-session losses. The share value of the company above Rs 1,875 will touch its 200-day moving average whose value placed around Rs 2,225. However, the expert suggests buying the stock within the range of Rs 1,950 – Rs 1,910 and targets for Rs 2,220 and stop-loss at Rs 1,875.

Ambuja Cement | Buy | Target price Rs 209

The shares of the company on March 13th recover the bearish gap that formed on March 12th in the stock market. However, the expert suggests buying the stock at the current level and targets for Rs 209 and stop-loss at Rs 175.

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