Market Trading Guide: PVR among 4 stock recommendations for Thursday
, ETMarkets.com|
The 30-share pack Sensex advanced 548 points or nearly 1 per cent to close at 55,816. Its broader peer, Nifty50, added 158 points to close above the 16,600 mark.
"The Nifty spot underwent a remarkable recovery of over 200 points from the day's low. The index took a dip near the 16,400 mark but managed to close well above the 16,600 mark. For the coming sessions, a high of 16,752 might now be strong resistance. Only a move above the same might result in a fresh rally. As per the options data, 15,500 seems to be strong support due to heavily built-up in 15,500 PE options," said Mehul Kothari, Anand Rathi Shares & Stock Brokers.
Here are the top four stock recommendations which analysts suggest:
Target: Rs 2,350
Stop Loss: Rs 2,070
After a double bottom formation, we are now witnessing a breakout on the daily chart. Previously we recommended this stock near Rs 2,070 and now we reiterate our view for the revised target of Rs 2,350.
Analyst: Mehul Kothari, Anand Rathi Shares & Stock Brokers
Target: Rs 2,220
Stop Loss: Rs 1,920
The stock has confirmed a multiyear breakout above the 2,000 mark. The theoretical target for the breakout comes around Rs 2,300 and more but for the medium term. For the short term, the stock can reach towards Rs 2,200 mark.
Analyst: Mehul Kothari, Anand Rathi Shares & Stock Brokers
Reuters
Targets: Rs 760-790
Stop Loss: Rs 690
The stock on the weekly chart has taken support from the rising trend line, confirming buyers' strength at the lower levels. The stock, on the daily chart, has been consolidating in a tight range and is on the verge of a breakout. The Breakout, placed at Rs 742, coincides with its 200DMA leading to a change in trend. The RSI indicator on the daily chart also shows a strong uptrend with a positive crossover.
ET Bureau
Targets: Rs 750-775
Stop Loss: Rs 650
The stock on the daily chart has given a breakout from a rising wedge pattern with volumes. The momentum oscillators are in a strong buy zone, confirming the internal strength. The stock has surpassed the short-term moving averages and took the support at 20 Day MA, which will now act as strong support.
Analyst: Kunal Shah, LKP Securities
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)
ANI
