These 3 stock ideas could return 5-14% in the next 3-4 weeks

Owing to the mean reversion nature of VIX, a rise in volatility is possible in coming trading sessions which could lead to choppy trading sessions going forward.

Nifty futures are currently trading in a narrow range as it has entered a sideways consolidation phase. Immediate support on the downside is placed at 10,700 and resistance at 10,850 levels.

Breakout on either side will trigger the next trending move. A trade above 10,850 will take it higher to levels of 11,000-11,250. However, a trade below 10,700 will drag it lower to levels of 10,630-10,500.

The relative strength index (RSI) is also oscillating in the range of 40-60, affirming the sideways consolidation. The volatility index is trading at the lower end of the range, indicating lack of any trend.

Owing to the mean reversion nature of VIX, a rise in volatility is possible in coming trading sessions which could lead to choppy trading sessions going forward.

Share Market Tips

Here is a list of top three stocks that could return 5-14% return in the next 3-4 weeks:

Tata Motors Ltd: Buy| Target: Rs 328-340| Stop loss: Rs 298| Return 6-10%

On the daily chart, Tata Motors Ltd. (TATAMOTORS) is on the verge of a breakout from a Flag pattern neckline placed at 314 (as indicated on chart) indicating bullishness building up in the stock.

A sustained trade above Rs 314 with healthy volumes can resume the uptrend taking it to levels of 328-340. Further, it has taken support at the 50% Fibonacci retracement level and turned upwards affirming bullishness.

Moreover, RSI has witnessed a range shift after taking support at the 46-level entering the bull zone affirming bullishness. The stock may be bought in the range of Rs 307-310 for targets of Rs 328-340, and a stop loss below Rs 298.

Piramal Enterprises Ltd: Buy| Target: Rs 2675-2910| Stop loss: Rs 2440| Return 5-14%

On the daily chart, Piramal Enterprises Ltd. (PEL) has broken out of a wedge pattern resuming the uptrend. Further, volumes have picked up in the breakout affirming strong bullishness dominant.

Further, on the weekly chart, it has turned upwards after forming a double bottom indicating higher levels in the coming trading sessions.

The RSI has turned upwards breaking out of the upper Bollinger Bands suggesting extended bullishness in the coming trading sessions. The stock may be bought in the range of Rs 2,545-2,550 for targets of Rs 2,675-2,910, and a stop loss below Rs 2,440.

GHCL: Buy| Target: Rs 306-320| Stop loss: Rs 275| Return 6-11%

On the weekly chart, GHCL Ltd. (GHCL) is on the verge of a breakout from a Triangle pattern suggesting bullishness building up in the stock.

Further, stock witnessed buying on good volumes as it approaches trendline breakout level of 290; a successful breakout and sustained trade above this can extend the uptrend.

The RSI has entered in the bull zone affirming bullishness. The stock may be bought in the range of Rs 288-290 for targets of Rs 306-320, and a stop loss below Rs 275.

Disclaimer:-The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

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