Hot Stocks | Navneet Education, Engineers India, Equitas Holdings can fetch 10% in short term. Here's why – Moneycontrol

My Account
Follow us on:
Powered By
Learn, discover & invest in smallcases across different types to build your long term portfolio.
Invest Now
Explore from India`s leading investment managers and advisors curating their strategies as smallcases.
Invest Now
Powered By stockal
Diversify your portfolio by investing in Global brands.
Invest Now
Pre-configured baskets of stocks & ETFs that you can invest
in with a single click. Developed by hedge funds, global
asset management companies, experienced wealth
management firms and portfolio managers.
Invest Now
Gamechangers
AMBAREESH BALIGA
Fundamental, Stock Ideas, Multibaggers & Insights
Subscribe
CK NARAYAN
Stock & Index F&O Trading Calls & Market Analysis
Subscribe
SUDARSHAN SUKHANI
Technical Call, Trading Calls & Insights
Subscribe
T GNANASEKAR
Commodity Trading Calls & Market Analysis
Subscribe
MECKLAI FINANCIALS
Currency Derivatives Trading Calls & Insights
Subscribe
SHUBHAM AGARWAL
Options Trading Advice and Market Analysis
Subscribe
MARKET SMITH INDIA
Model portfolios, Investment Ideas, Guru Screens and Much More
Subscribe
TraderSmith
Proprietary system driven Rule Based Trading calls
Subscribe
Moneycontrol  PRO
Moneycontrol  PRO
Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas
Subscribe
Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas
Explore
STOCK REPORTS BY THOMSON REUTERS
Details stock report and investment recommendation
Subscribe
POWER YOUR TRADE
Technical and Commodity Calls
Subscribe
INVESTMENT WATCH
Set price, volume and news alerts
Subscribe
The Nifty continued its upward journey for the third session in a row backed by strength in realty, technology and consumer durable stocks on September 12.
On the weekly chart, the index broke out last week from a downward sloping trend line, adjoining the highs of 2021 and 2022. The Nifty is placed above its 20, 50, 100 and 200 days EMA (exponential moving average) on the daily chart, which indicate a bullish trend on all time frames.
Weekly RSI (relative strength index – 11) for the Nifty is placed around 60 mark which is still far from overbought zone, which indicates room for more upside. Daily ADX (average directional index – 10) has been rising and placed at 35, below the extreme momentum levels. With upward sloping ADX and +DI (directional indicator) placed above –DI on the daily chart, we can expect Nifty to extend the gains from the current levels.
In the Option segment, aggressive Put writing was seen at 17,500-17,600 levels. This level also coincides with the swing low of 17,485 registered on September 7. Therefore, our advice is to continue to remain bullish with the trailing stop-loss of 17,500 levels. On the higher side, Nifty could move towards an immediate resistance of 18,100 and 18,350 levels.
Nifty Midcap and Smallcap indices have outperformed the Nifty by gaining by 2.7 percent and 4.7 percent as compared to 1 percent rise in the Nifty till now in the September month. We expect their outperformance to continue for the coming weeks.
Here are three buy calls for next 3-4 weeks:
Navneet Education: Buy | LTP: Rs 146.5 | Stop-Loss: Rs 136 | Target: Rs 158-165 | Return: 13 percent
The stock price has broken out on the daily chart with higher volumes to close at highest level since April 2018. Primary trend of the stock is positive as it is trading above its 50, 100 and 200 days EMA.
Momentum Oscillators – RSI (11) and MFI (money flow index – 10) have placed above 60 on the daily chart and sloping upwards, indicating strength in the current uptrend of the stock. One can buy the stock in the range of Rs 146.5-142.
Image111292022
Engineers India: Buy | LTP: Rs 70.9 | Stop-Loss: Rs 65 | Target: Rs 78-82 | Return: 15 percent
The stock price has broken out from the Inverse Head and Shoulder pattern on the weekly chart. Stock price took support at 200 days EMA multiple times before breaking out on the daily chart on September 5 with higher volumes.
Plus DI is trading above minus DI while ADX line is placed above 25, indicating momentum in the current uptrend. One can buy the stock in the range of Rs 71-68.
Image121292022
Equitas Holdings: Buy | LTP: Rs 105.2 | Stop-Loss: Rs 96 | Target: Rs 115-120 | Return: 14 percent
The stock price is on the verge of breaking out from the downward sloping trendline on the weekly chart. Short term trend of the stock is positive as it is trading above its 5, 20 and 50 day EMA.
Oscillators like RSI (11) and MFI(10) are placed above 60, indicating strength in the current uptrend. Plus DI is trading above minus DI while ADX line is placed above 25, indicating stock price is likely to gather momentum in the coming days.
One can buy the stock in the range of Rs 105-100.
Image131292022
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.
Copyright © e-Eighteen.com Ltd All rights resderved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.

source

Leave a Reply

Your email address will not be published.