Stock Picks for the Week

  • Stock Market Analysis

Indian markets have closed at record highs and Nifty has closed almost 3 percent above last week. The valuations and indicators on the charts suggest that the current rally has to take a breather. It is difficult to say when that correction will come. We feel that it is long due and the markets will offer a decent correction before resuming its upward trajectory. Investors are advised to maintain a stock-specific approach going forward.
Here are few top picks for the week:

1. BUY:  HDFC Bank Ltd (NS: HDBK ) (ABOVE – 1611)

TARGET: 1649
STOP LOSS: 1574

The stock has given a resistance level breakout on its daily charts. It is facing resistance around the level of 1600. Any breakout above the level of 1610 would add further upward momentum to the stock. Therefore, we recommend initiating a buy position above Rs.1611 with a stop loss of Rs. 1574 and a target of Rs. 1649.

2. BUY: GMM Pfaudler Ltd (NS: GMMP ) (ABOVE – 4605)     
     

TARGET: 4790
STOP LOSS:  4459

This stock has given a resistance level breakout on its daily charts and taking support of its important moving averages. The stock has witnessed strong consolidation on its daily charts.  Any breakout above the level of 4600 would add further upward momentum to the stock. Therefore, we recommend initiating a buy position above Rs. 4605 with a stop loss of Rs. 4459 and a target of Rs. 4790.

Disclaimer - Neither CapitalVia nor its analysts hold a position in any of the stocks mentioned above.

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  • Rupa Paul @Rupa Paul
    please advice low profile stocks
    Like 6
    • Vishal Daulatkar @Vishal Daulatkar
      @Rupa Paul AEGIS chemical.
      Like 0
    • Vishal Daulatkar @Vishal Daulatkar
      sorry AEGIS logistics
      Like 0
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