These 10 top trading stocks can give great returns in the next 3-4 weeks.
Experts say that the index can go up to the level of 17,800-17,900 after going above the resistance of 17,450.
Top 10 trading ideas are given by experts which can give good returns in the next 3-4 weeks.
India’s stock markets are trading in consolidation after a stellar performance in the last two weeks. There was some profit booking, leading the major indices to decline in four out of five sessions for the week ended March 25. Inflation concerns increased amid rising commodity prices, including crude oil. Oil climbed above $120 a barrel again and the ongoing war between Ukraine and Russia affected market sentiments.
Experts say that along with range-bound trade, light profit-booking was seen in the market. This action indicates that this level could act as important support, while there was resistance on the upside at 17,450.
Angel One’s Sameet Chavan said, “Let’s see how things pan out, and if there is no downside at the global level, Nifty may sustain the crucial support of 17,000-16,900.”
He said that in the first half of next week we will definitely get the idea of short term direction. Till then 17,350-17,450 will be considered immediate resistance.
Chavan said, “We expect the same trend to continue in the current week like last week. Hence traders can identify the potential themes to get higher returns. Here
are the top 10 trading ideas by experts for the next 3-4 weeks. Returns based on March 25 closing price:
Nandish Shah’s favorite picks of HDFC Securities
EIH: Buy – Rs.149, Stop Loss – Rs.142, Target Rs.165, Returns – 11%
short to medium term says Nandish Shah Hotel stocks are looking good on the charts for.
VIP Industries: Buy -689, Stop Loss – Rs 650, Target Rs-760, Return – 10 percent
Nandish said that the stock price has seen a breakout from a symmetrical triangle on the daily chart
Mahindra Holidays and Resorts India: Buy – Rs 234, Stop Loss – Rs 220, Target Rs 262, Return – 12 percent
According to Nandish, RSI and MFI have seen a trendline breakout, indicating high chances of a sharp rise in prices in the coming days. Anyway, hotel stocks look good in the short to medium term.
Shrikant Chauhan’s favorite picks of Kotak Securities
ICICI Bank: Buy -699, Stop Loss – Rs 675, Target Rs-735, Return – 5 percent
Shrikant says this is a good risk-reward ratio positioning traders with a good risk-reward ratio. Offering shopping opportunities for Its trend reversal move is likely to continue till Rs 735.
SBI Life Insurance Company: Buy – 1,093, Stop Loss – Rs 1,054, Target – Rs 1,165, Return – 6.6 per cent
. A target of Rs 1,165 can be seen.
Bajaj Auto: Buy -3,654, Stop Loss – Rs 3,529, Target Rs 3,900, Return – 6.7 percent
According to Shrikant Chauhan, after a long time, it closed above Rs 3,650 on the weekly chart. As long as the stock trades above Rs 3,529, it can be expected to touch Rs 3,900.
Jain’s Favorite Picks
AasthaThere has been a breakout and the stock has made an important support level at Rs 3,540. More increase can be seen in this.
Hindalco Industries: Buy -623, Stop Loss – Rs 569, Target Rs-690, Return – 11 per cent
Aastha says the stock has broken its previous high recently and touched Rs 630. Simultaneously, the MACD (Moving Average Convergence Divergence) crossed its signal line on the daily chart, indicating a bullish trend in the stock.
5paisa.com’s Ruchit Jain Favorites
Larsen & Toubro Infotech: Buy -6,183, Stoploss – Rs 5,960, Target – Rs 6,565, Return – 6 per cent
Ruchit says the Risk Reward Ratio is favorable for fresh buying at current levels. So short-term traders should look for buying opportunities in this stock.
Tata Power: Buy -241, Stop Loss – Rs 233, Target – Rs 252, Return -4.6 per cent
Ruchit says the RSI-Smoothed Oscillator is also indicating positive momentum. This broker shows the possibility of resumption of the uptrend. Hence traders should buy this stock for the short term.
(Disclaimer: The views and investment advice given on Moneycontrol.com are the personal views and opinions of investment experts. Moneycontrol advises users to consult a Certified Expert before making any investment decision. )