Market rebounds after 3-month low. Top 10 trading ideas by experts for next 3-4 weeks

#Market Cues, #Market Edge, #Nifty, #Sensex, #Stocks Views, #Technicals, Bata India, TCS, Jubilant Foodworks, Glaxosmithkline Pharmaceuticals, Gujarat Fluorochemicals, Aegis Logistics, ONGC, Larsen & Toubro, Coforge, IndusInd Bank

The market rebounded sharply during the week ended December 3 despite consistent FII selling, after sharp sell-off in previous week. The Nifty50 had breached 17,000 on closing basis, but the smart recovery in following two days helped the index return and hold that crucial levels.

Despite correction on Friday, the index managed to settle with a percent gains during the week to close at 17,197. The broader markets – the Nifty Midcap 100 and Smallcap 100 indices also gained 1 percent each. Experts remain cautious given the directionless trend and feel the index needs to surpass and close above 17,900 for strong uptrend.

“Direction wise, we continue to remain cautious and there is no doubt we are still in a ‘Sell on rise’ kind of market. This view will remain intact as long as Nifty does not surpass 17,900 which is the confluence point of two key trend lines,” says Sameet Chavan, Chief Analyst-Technical and Derivatives at Angel One.

He further says also sooner or later they expect the recent low around 16,800 is to be breached soon; but it will happen immediately or after some more consolidation in the range of 16,800 – 17,500.

Meanwhile, he advised that traders can continue with a stock specific approach. “And we may see trades on both sides if Nifty remains in a consolidation mode. But it would be a prudent strategy to keep booking timely profits and considering the volatile nature of global markets, carrying aggressive bets overnight should be strictly avoided.”

As far as levels are concerned, Sameet Chavan says 17,350 – 17,500 – 17,600 are to be considered as immediate hurdles; whereas on the flipside, 17,000 – 16,800 should be treated as a cluster of support.

Here are top 10 trading ideas by experts for the next 3-4 weeks. Returns are based on December 3 closing prices:

Expert: Vijay Dhanotiya, Lead Technical Research at CapitalVia Global Research

Bata India: Buy | LTP: Rs 1,895.40 | Stop Loss: Rs 1,750 | Target: Rs 2,250 | Return: 18.7 percent

The stock is trading near the lower band of an ascending channel. We expect a reversal from the support of lower band of the channel.

It has also taken a support of EMA (exponential moving average) 100 line. We have observed indicators like MACD and RSI (relative strength index) indicating the momentum in the stock is likely to continue.

We recommend a buy above Rs 1,950 with a target of Rs 2250 and a stop loss of Rs 1,750.

#Market Cues, #Market Edge, #Nifty, #Sensex, #Stocks Views, #Technicals, Bata India, TCS, Jubilant Foodworks, Glaxosmithkline Pharmaceuticals, Gujarat Fluorochemicals, Aegis Logistics, ONGC, Larsen & Toubro, Coforge, IndusInd Bank

TCS: Buy | LTP: Rs 3,640.45 | Stop Loss: Rs 3,350 | Target: Rs 4,000 | Return: 9.9 percent

The stock has reversed from the support level near Rs 3,400. It has reversed after retesting the level of ascending triangle it has given the breakout in the past.

It has also got the support of 200 EMA line. We recommend a buy above Rs 3,670 with a target of Rs 4,000 and a stop loss of Rs 3,350.

#Market Cues, #Market Edge, #Nifty, #Sensex, #Stocks Views, #Technicals, Bata India, TCS, Jubilant Foodworks, Glaxosmithkline Pharmaceuticals, Gujarat Fluorochemicals, Aegis Logistics, ONGC, Larsen & Toubro, Coforge, IndusInd Bank

Jubilant Foodworks: Buy | LTP: Rs 3,800.55 | Stop Loss: Rs 3,500 | Target: Rs 4,550 | Return: 19.7 percent

Jubilant Foodworks is trading in an ascending channel and has taken the support of 100 EMA line. We expect a reversal in the stock from the lower band of the channel.

We have observed indicators like MACD and RSI indicating the momentum in the stock. We recommend a buy above Rs 3,850 with a target of Rs 4,550 and a stop loss of Rs 3,500.

#Market Cues, #Market Edge, #Nifty, #Sensex, #Stocks Views, #Technicals, Bata India, TCS, Jubilant Foodworks, Glaxosmithkline Pharmaceuticals, Gujarat Fluorochemicals, Aegis Logistics, ONGC, Larsen & Toubro, Coforge, IndusInd Bank

Expert: Nagaraj Shetti, Technical Research Analyst at HDFC Securities

Glaxosmithkline Pharmaceuticals: Buy | LTP: Rs 1,731.05 | Stop Loss: Rs 1,620 | Target: Rs 1,920 | Return: 10.9 percent

The weekly timeframe chart of Glaxo indicates an uptrend in the last couple of weeks. The stock price has moved above the crucial trend line resistance and also a larger consolidation pattern of around Rs 1,710 levels on Thursday and is currently trading higher. This is positive indication.

Further sustainable upmove from here could open a sharp upside breakout of the hurdle for the near term. Volume has started to expand during upside breakout in the stock price and weekly RSI shows positive indication. Hence, one may expect further strengthening of upside momentum in the stock price ahead.

Buying can be initiated in Glaxo at CMP, add more on dips down to Rs 1,670, wait for the upside target of Rs 1,920 in the next 3-4 weeks. Place a stoploss of Rs 1,620.

#Market Cues, #Market Edge, #Nifty, #Sensex, #Stocks Views, #Technicals, Bata India, TCS, Jubilant Foodworks, Glaxosmithkline Pharmaceuticals, Gujarat Fluorochemicals, Aegis Logistics, ONGC, Larsen & Toubro, Coforge, IndusInd Bank

Gujarat Fluorochemicals: Buy | LTP: Rs 2,486.55 | Stop Loss: Rs 2,310 | Target: Rs 2,740 | Return: 10.2 percent

After showing minor weakness in the last two weeks, the stock price showed a decisive upside breakout on Friday and closed higher. The stock price has moved above the resistance of Rs 2,230 levels and closed higher.

The larger positive sequence like higher tops and bottoms is intact for many months. This reflects an intermediate uptrend in the stock price. Volume has expanded on Friday during upside breakout and the weekly 14 period RSI shows positive indication.

One may look to buy Gujarat Fluorochemicals at CMP, add more on dips down to Rs 2,380 and wait for the upside target of Rs 2,740 in the next 3-4 weeks. Place a stoploss of Rs 2,310.

#Market Cues, #Market Edge, #Nifty, #Sensex, #Stocks Views, #Technicals, Bata India, TCS, Jubilant Foodworks, Glaxosmithkline Pharmaceuticals, Gujarat Fluorochemicals, Aegis Logistics, ONGC, Larsen & Toubro, Coforge, IndusInd Bank

Aegis Logistics: Buy | LTP: Rs 247.50 | Stop Loss: Rs 230 | Target: Rs 274 | Return: 10.7 percent

The sharp trended decline seems to have completed in this stock, as the stock price bounced back sharply in the last two weeks. We also observed a bullish reversal type weekly candle pattern in the last two weeks which signal a formation of important bottom reversal for the stock price at Rs 191.75 levels in the last week.

The sharp rise in the volume during upmove in the stock price could indicate buildup of long positions. Weekly 14 period RSI and weekly ADX/DMI (Average Directional Index / Direction Movement Index) shows positive indication.

One may look to buy Aegis at CMP, add more on dips down to Rs 238 and wait for the upside target of Rs 274 in the next 3-4 weeks. Place a stoploss of Rs 230.

#Market Cues, #Market Edge, #Nifty, #Sensex, #Stocks Views, #Technicals, Bata India, TCS, Jubilant Foodworks, Glaxosmithkline Pharmaceuticals, Gujarat Fluorochemicals, Aegis Logistics, ONGC, Larsen & Toubro, Coforge, IndusInd Bank

Expert: Sameet Chavan, Chief Analyst-Technical and Derivatives at Angel One

ONGC: Buy | LTP: Rs 145.90 | Stop Loss: Rs 139 | Target: Rs 152 | Return: 4.2 percent

This stock had a spectacular run from mid-August lows (Rs 108.50) to Rs 170 plus levels in merely 8 – 9 weeks. In this move, the volume activity rose substantially, indicating tremendous buying interest in this counter.

However after the initial part of the week, the stock prices slipped into a corrective mode. The price decline has been gradual in nature and in the process, formed a ‘Downward Sloping Channel’ where both ends of this pattern were tested on a multiple occasions.

Now stock prices have reached its cluster of support where multiple technical evidences converge. Hence, there is a possibility of the recent corrective phase getting completed and the stock may move upwards from here. We recommend buying around Rs 143 for trading target of Rs 152. The stop loss can be placed at Rs 139.

#Market Cues, #Market Edge, #Nifty, #Sensex, #Stocks Views, #Technicals, Bata India, TCS, Jubilant Foodworks, Glaxosmithkline Pharmaceuticals, Gujarat Fluorochemicals, Aegis Logistics, ONGC, Larsen & Toubro, Coforge, IndusInd Bank

Expert: Shrikant Chouhan, Head – Equity Research (Retail) at Kotak Securities

Larsen & Toubro: Buy | LTP: Rs 1,801.25 | Stop Loss: Rs 1,760 | Target: Rs 1,900 | Return: 5.5 percent

It is consolidating above the 50-day SMA (simple moving average). On Friday, it was one of the best-performing stocks, however, due to widespread weakness; we saw the liquidation of long positions towards the end.

We should be buyers in stock at Rs 1,800 and Rs 1,770. However, we need to protect the long positions with a stiff stop loss at Rs 1,760. On the upside, Rs 1,850 and Rs 1,900 would be the biggest hurdles.

Coforge: Buy | LTP: Rs 5,350.15 | Stop Loss: Rs 5,000 | Target: Rs 5,800 | Return: 8.4 percent

The stock is in a corrective pattern after reaching the level of Rs 6,000. The range of corrective patterns is between Rs 6,000 and Rs 4,700, which is quite large. This type of price correction usually results in the stock forming either a rectangle or a triangle.

Based on the daily chart, it is forming a triangle and the price is accumulating between 20 and 50-day averages. Our strategy should be to buy partially at the current level and keep the balance at Rs 5,100 and for that stop loss at Rs 5,000. On the upside, the Rs 5,600 and Rs 5,800 will be major resistance to the market.

IndusInd Bank: Sell | LTP: Rs 951.15 | Stop Loss: Rs 970 | Target: Rs 880 | Return: (-7.5) percent

It was around Rs 1,242 and from there the stock dropped all the way to Rs 876. Last week, we saw some recovery in the stock from lower levels; however, the rally got arrested at Rs 960, which was previously a resistance for the stock.

Based on its technical pattern, our advice is to sell the stock from a short-term perspective. Keep stop loss at Rs 970. On the downside, the stock has support at Rs 915 and Rs 880.

Disclaimer: The views and investment tips expressed by investment experts on are their own and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

News Related


FPI-heavy stocks, newly-listed companies may have some more pain in store

Mumbai: If foreign portfolio investors (FPI) that have sold shares worth more than ₹9,400 crore so far this month continue their selling spree this week, the biggest casualty would be ... Read more »

Nifty could test 17,300 if 17,500 support is breached

Technical analysts expect the Nifty to fall further in the week before the FY23 Union Budget on February 1. Analysts said the Nifty could fall to 17,300 if it breaks ... Read more »

Activist investor reportedly aims to call on Peloton to fire CEO, explore sale

A person walks past a Peloton store on January 20, 2022 in Coral Gables, Florida.Joe Raedle | Getty Images An activist is pushing Peloton to fire its chief executive officer ... Read more »

Like the Tesla stock rally? With Stock Connect, Chinese investors may get a shot at 51 per cent upside in challengers Xpeng and Li Auto

Mainland Chinese investors enamoured by Tesla’s 50 per cent rally in 2021 may soon get a shot at buying Xpeng and Li Auto, two of the closest challengers to the ... Read more »

What will your 2022 story be? You, not your boss, not HR, are the author of your own success story

We all love stories. Stories touch us more than logic or facts. They show us what is possible and what success looks like, much more powerfully than any other medium. ... Read more »

Kohl's Gets $9 Billion Bid From Starboard Value Group The department store has been under pressure to boost its share price

Kohl’s has said it plans to unveil its strategic plans at an investor day in March.  REUTERS A consortium backed by activist hedge fund Starboard Value LP has offered roughly ... Read more »

State sees no urgent need to cut excise tax on diesel

The government would rather focus on implementing measures to assist ordinary people and low income-earners, says Mr Supattanapong. The government insists the state Oil Fund still has sufficient funding to ... Read more »

EV Makers' Next Headache: Scarce Battery Chemicals, Made in China Lithium used to make electric-vehicle batteries is getting dear; that is only leading edge of supply-chain problem

An aerial view of the processing plant of the lithium mine in Del Carmen salt flat in the Atacama Desert, northern Chile. Most of the mining for materials like lithium ... Read more »

Draft targets resolution of retirement fund shortages

Warotai, adviser to the FPO. The Finance Ministry is studying a plan to separate the retirement fund from the Social Security Fund and seek ways to more efficiently and flexibly ... Read more »

The WhiteSpace pivots to new 5G model

The Penguin brand, which was launched in 2016, currently has around 200,000 users, says Mr Chaiyod. The WhiteSpace, a mobile virtual network operator (MVNO) under the Penguin brand, has transformed ... Read more »

Taking retail to the next level Innovation is the name of the game among companies seeking a competitive edge, writes Pitsinee Jitpleecheep

below  Plant-based meat substitutes are on sale at a supermarket. During the pandemic the past couple of years, retailers, brands and manufacturers have adapted to changing consumer behaviour. While many ... Read more »

FTI club launches EV component plan

An electric car is connected for charging at Motor Expo 2021, held in December at Impact Challenger 1-3, Muang Thong Thani. Pattarapong Chatpattarasill The Federation of Thai Industries' (FTI) auto ... Read more »

Prices surge into danger zone Pan-industry inflation has heightened fears that an economic calamity is imminent, write Post reporters

A vendor prepares pork for sale at Yaowarat market in Bangkok’s Chinatown on Jan 13 as prices soar.  Apichart Jinakul Growing concern over food and energy prices has both the ... Read more »

More Covid-19 insurance options for foreign tourists Government, OIC discussing details

Foreign visitors await instructions from health officials inside the arrivals terminal at Suvarnabhumi airport. AFP Foreign tourists are likely to have more insurance options to cover hospitel and hotel isolation expenses ... Read more »

S. Korea's exports of red pepper paste soar 63% in 4 years due to K-pop popularity

The US exported the most gochujang with a market share of 26.4 percent, trailed by China with 17.3 percent, and Japan with 10.3 percent. South Korean exports of red pepper ... Read more »

Peloton's brand gets slammed again after an unfavorable portrayal in 'Billions'

Peloton Interactive Inc. stationary bicycles sit on display at the company's showroom on Madison Avenue in New York, U.S., on Wednesday, Dec. 18, 2019.Jeenah Moon | Bloomberg | Getty Images ... Read more »

In our energy-hungry world, nuclear power is making a comeback – with safer and cheaper technology

Stand back for a nuclear reaction. I’m not talking about another Fukushima-style reactor meltdown or an attack involving nuclear weapons (hopefully), but the beginning of a renaissance of nuclear energy ... Read more »

The Trends That Will Help Your Ecommerce Business Grow

The eCommerce industry is booming, but the competition is fierce, and the rewards are plentiful. It's important to stay on top of trends and changes within the industry. This blog ... Read more »

At 88.2 mm, Delhi logs highest January rainfall in 122 years

Representational image. A spell of rain late Saturday night brought Delhi’s cumulative precipitation this January to 88.2 mm, which is the highest in the month since 1901, according to the ... Read more »

Suraksha group expects NCLT nod by March to acquire Jaypee Infra; gearing up to start construction

Representative image Mumbai-based Suraksha group on Sunday said the company expects to get the approval of the NCLT by March to acquire Jaypee Infratech Ltd (JIL) through insolvency process and ... Read more »

Supertech says advance payment made to firm for Noida twin tower demolition

Representative image Real estate group Supertech on Sunday said it has signed a pact with Mumbai-based Edifice Engineering, and an advance payment has been made to it for demolition of ... Read more »

The iPhone 13 Pro Will Unleash The Gamer In You

Not many iPhone users would ever call themselves gamers, until they manage to get hold of the latest iPhone 13 model, with particular desirability over the iPhone 13 Pro. Of ... Read more »

Selling A House in 2022 - What Are The Best Options Available For A Fast Sale

Two years ago the industry was questioning how the pandemic would affect the housing market. As it turned out, there was an increase in house sales in 2020 compared with ... Read more »

The Biggest Tech Trends For 2022

2022 has been named as the biggest year of tech promise. With conferences led by some of the brightest minds over 2021, many clues of what to expect have been ... Read more »

Dr. B Review: Using Technology to Help Americans During a Pandemic

What originally started in December 2020 has continued to plague the globe nearly two years later. The coronavirus infected millions of individuals during the first wave, with hundreds of thousands ... Read more »

Growing but Not Yet Profitable? Here's How Spend Management Software Can Help

Seeing a business grow organically after years of hard work is a great feeling. However, finding out later on that all of that sweat ended up producing little to shareholders ... Read more »

Spotify promotions is the only way!

Are you a cool young musician? How skilled you are? Can you play any instrument imaginable, or you can name each and every instrument in a highly-complicated composition? Are you ... Read more »

UP Assembly polls 2022 | Bhim Army chief announces Samajik Parivartan Morcha

Chandrashekhar Azad (Image: Twitter/ @BhimArmyChief) Bhim Army chief Chandrashekhar Azad on January 23 announced an alliance of 35 smaller political parties ahead of the Uttar Pradesh Assembly elections. The new ... Read more »

M&C Saatchi suitor AdvancedAdvT sweetens bid with cash

The London-listed vehicle set up by tech entrepreneur Vin Murria has submitted a revised proposal in an attempt to win over the board of M&C Saatchi, Sky News learns. Read more »

Good Glamm Group acquires majority stake in Organic Harvest, to invest Rs 75 crore

Content to commerce firm Good Glamm has acquired a majority stake in organic beauty and personal care brand Organic Harvest and will invest Rs 75 crore in further growing the ... Read more »

Farmers' protest in Spain highlights rural concerns

The Associated PressPeople on horseback follow a tractor during a march in defence of Spanish rural areas during a protest in Madrid, Spain, Sunday, Jan. 23, 2022. Members of rural ... Read more »

Lab-grown meat could make strides in 2022 as start-ups push for U.S. approval

Josh Tetrick, co-founder and CEO of cultivated meat start-up Eat Just, has a vision: He imagines a day when meat grown in a lab is available everywhere from Michelin-star restaurants ... Read more »

Rourkela Steel Plant wins 'Best Integrated Steel Plant' title under SAIL Corporate Awards

(Image: PTI) Rourkela Steel Plant (RSP) has won the “Best Integrated Steel Plant” title under SAIL Corporate Awards for excellence-2021, an official statement said. The award recognizes the remarkable overall ... Read more »

Moneycontrol Area Watch | Golf Course Extension Road and Gurugram sectors around it are seeing traction

The ambient air quality in Gurugram (above) does not remain good throughout the year because of dust caused by the ongoing construction and demolitions. Of late, Golf Course Extension Road ... Read more »

PV Sindhu wins Syed Modi International badminton title

(Image: Reuters) Two-time Olympic medallist PV Sindhu eased past young compatriot Malvika Bansod in straight games to win her second women’s singles title at the Syed Modi International badminton tournament ... Read more »

Top 5 Mobile App Security Best Practices for Developers

Image Source: Pixabay In today's world of smartphones, tablets, and other mobile devices, it is more important than ever for developers to keep their apps up-to-date with the latest security ... Read more »

5 Ways to Save Energy This Winter

Much of the country is buried under winter snows with furnaces and fireplaces blasting out heat. While you may think that winter is a great time to fire up the ... Read more »

5 Tips for Preventing ELD Violations

URL: The ELD mandate is a regulation requiring that all commercial motor vehicle operators qualifying for this law use electronic logging devices. These devices are meant to record vehicle ... Read more »

Quick Commerce : Delivery race among grocery startups heats up road safety issues

Image Source: ShutterStock Indian grocery startups are luring tech-savvy customers with the promise of deliveries within 10 minutes, sparking a boom in “quick commerce”, but heating up concerns about road ... Read more »

CAIT seeks meeting with CCI chairman; appeals to close probe against Amazon, Flipkart soon

(Representative image) The Confederation of All India Traders (CAIT) on January 23 sought a meeting with the Competition Commission of India’s Chairman Ashok Kumar Gupta regarding investigation and action against ... Read more »
On you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic