Moneycontrol conducted an analysts’ poll in which almost 50% of respondents said that the Sensex will trade above 43,000. 37.50% of respondents remarked that they expect Sensex to see some consolidation and trade in the range of 42,273-43,000.
India set new records on the Muhurta Trading Day. The S&P BSE Sensex is trading above 43,000 easily while Nifty50 came down to 12,900 levels. Experts believe that the upside will remain limited for the benchmark indices. However, there will be multiple stock-specific actions. As the economy is showing signs of improvement, a multi-year bull-run has started.
Moneycontrol’s Analysts’ Report
Moneycontrol conducted an analysts’ poll in which almost 50% of respondents said that the Sensex will trade above 43,000. 37.50% of respondents remarked that they expect Sensex to see some consolidation and trade in the range of 42,273-43,000.
62.50% respondents expect to trade between 12,400 and 13,000 for Samvat 2077 in Nifty50. The remaining 37.50% expect Nifty50 to trade above 13,000.
List of Top 10 Trading Picks
The below-mentioned stocks would give a buyer an 11-26% return in the next 12 months, as per various experts of the stock market.
1. Buy on dips: Infosys| Target: Rs 1400| Stop Loss: Rs 850| LTP: Rs 1133| Upside 23%
Investors should buy 50% at current levels and then balance at 960. A final stop loss will be placed under 850 rupees for trading purposes. The next wave is expected to end somewhere between Rs 1,400 and1440 levels.
2. Buy on dips: Cipla| Target: Rs 840| Stop Loss: Rs 650| LTP: Rs 746| Upside 12%
The stock has created the “Cup with Handle” pattern on the monthly graphic charts. Investors should buy 50% on current levels and balance at 700 rupees.
3. Buy: Britannia Industries Ltd| Target: Rs 4050| Stop Loss: Rs 3000| LTP: Rs 3528| Upside 15%
Investors should buy at least half of the stocks at current levels and balance at Rs 3200. One can keep a final stop loss at 3000 levels. The rally may extend up to 4000 levels on the upside.
4. Buy above Rs 1320: Siemens| Target: Rs 1520| Stop Loss: Rs 1250| LTP: Rs 1370| Upside 11%
Siemens consolidated within a pattern of identical tops and ascending bottoms. This month, the stock broke the pattern on the upper boundaries. It is moving higher with the objective trendline and one expects it to continue the same behaviour for a while. So, investors should buy above Rs 1,320 with a 12-month target of Rs 1.520 and stop-loss should be placed below Rs 1,250.
5. Buy on dips: Adani Enterprises| Target: Rs 450| LTP: Rs 371| Upside 21%
Currently, it has taken a pause at the Gann number of 361. This indicates a halt in an ongoing uptrend. Such a phase in an up-trend result in the resumption of an existing rally. A corrective move towards Rs 335-340 can be seen as a potential buying opportunity. The stock has the calibre to rally towards Rs 450.
6. Buy: Crompton Greaves Consumer| LTP: Rs 299| Target: Rs 360| Stop Loss: Rs 250| Upside 20%
It has the potential to stage an above 20% rally with various supports around Rs 250. On the P&F chart, a Bear Trap reversal and a bullish turtle breakout are seen which means multiple bullish formations in an up-trending pattern.
7. Buy: Tata Motors| Target: Rs 170| Stop Loss: Rs 127| LTP: Rs 148| Upside 15%
From Gann’s perspective, the pullback seems to be excessive whenever a confluence is defended. A pattern of the bullish anchor is seen since August 2020. A move above Rs 143 would result in ABC breakout with a potential target of Rs170. Support should be seen at around Rs 127.
8. Buy: Tata Consumers Products| LTP: Rs 516| Target: Rs 593| Stop Loss: Rs 460| Upside 15%
On the P&F chart at the support zone, the pattern of Beartrap reversal and a bullish anchor column indicate more legs on the upside. Currently, it is consolidating at the lowest, breakouts from such patterns in up trending stocks mostly provide swift up moves. We can expect a rally of 12-15% in the medium-term with support placed around the Rs 460 zone.
9. Buy: Amara Raja Batteries| Target: Rs 950| Stop Loss: Rs 730-735| LTP: Rs 824| Upside 15%
A refrain towards Rs 780-770 zone can be considered as a buying opportunity as the stock could gradually trend higher towards 950. Levels of Rs730-735 are likely to play an important role in the support zone.
10. Buy: CEAT| Target: Rs 1230-1425| Stop Loss: Rs 922| LTP: Rs 1130| Upside 26%
It is recommended to buy the stock at 1100-1130 and average at 1000, for the upside targets of 1230 and 1425, keeping a stop loss on a closing basis at Rs 922. This is because The Monthly Indicators and Oscillators such as DMI and RSI have shown fresh buying signals on the charts. Auto Sector has done pretty well since March 2020 bottom. Auto Ancillary space is also expected to continue its outperformance in the next few months.
Edited by Subbuthai Padma
Published by Iram Rizvi
