As Stock Market is Expected to remain volatile, which I shared in my past topic, Here is a list of Top Stocks, a trader or an investor should focus on:
1. ICICI Bank:
Buy ICICI Bank, TARGET 925 and STOPLOSS 819
The stock has been falling in a channeled manner and has taken support near the lower channel line as well as
near the daily lower Bollinger Band. Daily momentum indicator has given a fresh
buy signal.
2. Tata Power:
Buy TATA Power, TARGET 84 and STOPLOSS 75
The stock has entered a pullback mode and is about to start
third leg on the upside. Daily momentum indicator is in line with the price
structure.
3. Reliance Infrastructure:
Buy Reliance Infrastructure, TARGET 385 and STOPLOSS 345
The stock has broken out on the upside from a large Ending
Diagonal pattern. Thus it is looking bullish from short- to medium-term
perspective.
4. HDFC Bank:
Buy HDFC Bank, TARGET 650 and STOPLOSS 588
The stock recently completed a three-wave correction. The
third leg down got over in the last week. Thus, the stock is poised for a
short-term bounce till its key weekly moving averages.
5. HPCL
Buy ICICI Bank, TARGET 200 and STOPLOSS 179
The stock seems to have formed a short term base in the last
couple of weeks. Risk reward ratio is encouraging for bulls to buy the stock
from short term perspective.
6. ONGC
Buy ONGC, TARGET 293
ONGC confirmed a short term bullish reversal pattern with
its close on Friday. With increase in upwards momentum and volume it looks set
to break out of the upper ceiling of a falling trend channel formed since July.
It may climb to test its pivotal resistance level at Rs 293. Long positions
with a stop loss at Rs 266 can be considered.
7. Hindalco
Buy Hindalco, TARGET 112, 116 and STOPLOSS 103
After outperforming the broader market lately - Hindalco is
now testing strong resistance at Rs 105-106 levels. If taken out, it can open
up substantial upsides for the stock. The stock should be bought only on a
close above Rs 106 for targets of Rs 112 and Rs 116.5 in short to medium term.
Stop loss can be placed at Rs 97.
8. Reliance Infra
Buy Reliance Infra, TARGET 280, 400 and STOPLOSS 357
The stock has been consolidating in a contracting sideways
range for the last 5 months and now with price and volume momentum gathering we
expect a break-out above resistance at Rs 365.
Reliance Infra can be bought for target of 280 and 400 in
short to medium term. Stop loss can be placed at Rs 335.
9. Bharti Airtel
Buy Bharti Airtel, TARGET 286 and STOPLOSS 308
Bharti Airtel showed renewed weakness on Friday and the
bearish weekly candle on increase probabilities of further declines in the
short term. It can now weaken towards Rs 285 - 286 levels where there is
possible support from a rising trend-line formed joining the bottoms since
August 2012.
10. JSW Steel
Buy JSW Steel, TARGET 580 and STOPLOSS 179
The stock formed a short term bullish reversal pattern on
weekly charts accompanied by healthy volumes and a higher opening on Monday can
spark some pullback in the prices. It can test its medium term resistance level
at Rs 580. Longs can be initiated if Monday's open is above Rs 546 and a stop
loss at Rs 526 can be considered.
