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After gaining over 50% since March 23-24 when the Prime Minister introduced nationwide lockdown amid corona virus outbreak, the home stock markets halted their bull run final week. Last week noticed large dump triggered after the information of India-China conflict on the border. Most analysts imagine the stock markets might be heading for some extra consolidation within the brief time period. Here are a couple of shares to maintain you afloat within the subsequent three months.
HDFC Securities top stock picks for 7 days to upto 3 months
Sun Pharmaceuticals : The stock of the drug main SunPharma final commerce at ₹511. The brokerage home advocate to purchase between the present market worth and ₹500 with a cease loss at ₹495 and a seven day time horizon. The dealer has mounted the goal worth at ₹548. “After showing a minor declines/sideways consolidation, the stock price has shifted into an upside bounce. The short term trend seems to have turned positive,” says the analysis report by HDFC Securities.
Bank Of India: “We observe a sustainable move above ₹53 may have a pointy optimistic impression on the stock worth forward. Weekly 14 interval RSI is displaying optimistic indication and quantity has began to rise with worth upside breakout. This is optimistic indication.
The total chart sample of Bank of India signifies a protracted buying and selling alternative,” says the brokerage house report. The last traded price of the bank was ₹49. HDFC Securities has fixed the target at ₹57.50/64 with a horizon of up to three months. Stop loss at ₹47.50.
Kirloskar Oil Engines : The final traded worth was ₹122. The brokerage home has mounted the goal worth at ₹132/145 with a time horizon of as much as three months. Stop loss at ₹108. “This upside breakout is positive signal for the stock price and a sustainable upmove from here could open up an upside pattern target of ₹140 and above in the next few months. The volume expanded sharply this week along with the upside breakout of the stock price. The Weekly 14 period RSI is also signal further strengthening of upside momentum. The overall bullish chart pattern of Kirloskar Oil Engines Ltd indicate long trading opportunity,” stated the report.
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