Accumulate TeamLease Services; target of Rs 2450: Prabhudas Lilladher

Prabhudas Lilladher is bullish on TeamLease Services has recommended accumulate rating on the stock with a target price of Rs 2450 in its research report dated March 21, 2018.

Prabhudas Lilladher's research report on TeamLease Services

Flexi staffing business in India appears to be in a sweet spot led by multiple dynamics playing in favour of the sector. Scope for increase in formal employment in the country (currently at 14% of overall employee base) as well as increased share of outsourced employee base within the formal employee base are the key macro drivers. While increased hiring of contract employees in select industries (BFSI, Retail, eCommerce, Logistics, Telecom) has been the key growth driver for flexi staffing companies over FY13-FY17, we believe FY18-FY20E could see a pick-up in Manufacturing vertical as well.

Outlook

We like TeamLease owing to its leadership position in General staffing, asset light model, strong Technology platform which aids in non-linearity (Associate/Core employee ratio). Retain Accumulate with target price of Rs2,450/sh (35x FY20E EPS).

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D-Street undergoing healthy bull market correction; 2 stocks with up to 18% return potential

We believe the corrective phase over the last two months has made the markets healthier and created good opportunities for investors to accumulate quality stocks with a long-term horizon.

Historically, within a bull market, corrections to the tune of 12-15 percent  are considered as normal bull market corrections that provide long-term buying opportunities, Dharmesh Shah, AVP at ICICI Direct.com Research said in an exclusive interview with Moneycontrol’s Kshitij Anand.

The Nifty50 flirted with its 200-DEMA and 200-DMA for the week ended March 28. Although, the index managed to gain for the week, it slipped nearly 3 percent or above 250 points in the month of March. How is the Nifty looking on technical charts?

Yes, after nearly 11 percent decline from the top, Nifty has been flirting around a cluster of 200-DMA and 200-DEMA, indicating a breather.

However, in line with our view, the Nifty has maintained the rhythm of not correcting over four weeks in a row, as buying demand emerged near key value area of 9950 being confluence of the 38.2 percent retracement of the entire previous major rally of the CY17 from 7894 to 11171 is at 9920 coinciding with support trend line of falling channel (drawn adjoining February – March lows of 10303-10142 projected from February high of 10537), placed around 9950.

We believe the index is undergoing a healthy bull market correction. Historically, within a bull market, corrections to the tune of 12-15% are considered as normal bull market corrections that provide long-term buying opportunities.

Price wise, the Nifty has already corrected 11 percent from its lifetime high, equivalent to demonetization correction (12%) levels in magnitude.

Even the weekly RSI oscillator has taken support from demonetization low of 41 levels and weekly stochastic oscillator witnessed bullish crossover. Thus, we believe the index will hold the crucial support zone of 9900 in coming weeks.

What is your outlook for Nifty in April series? Do you see the index consolidating in a narrow range?

We believe the corrective phase over the last two months has made the markets healthier and created good opportunities for investors to accumulate quality stocks with a long-term horizon.

The larger degree price structure is still positive. We believe the Nifty has a key support base around 9800 - 9900 regions as the index absorbed major unprecedented events in the past while approaching 9900 levels.

Therefore, investors should use the current volatility in the markets to accumulate quality stocks in a staggered manner rather than waiting to catch the exact bottom.

The key thing to watch out for is a structural turnaround to occur with a faster retracement of the last falling segment as that would also confirm a potential structural reversal near key value area of 9900 and open the doors for extension of pullback towards 10470 in the coming month.

Else, Nifty would continue to consolidate in a broader range of 9900 – 10300 amid the stock specific action.

What is your call on smallcap and midcap stocks which underperformed in March? Should investors stay away or just book profits on rallies?

Similar to benchmark, the Nifty Small cap retraced 38.2 percent of last major uptrend while Nifty midcap retraced almost 35 percent.

However, we observed that the selling pressure was relatively decelerated during the last leg of decline, indicating that these indices have done with price wise correction and now enter into time-wise correction before taking any directional move.

At the same time, both of these indices are hovering near support zone of upward sloping long-term channel drawn adjoining lows of February-December 2016, which clearly indicates avoidance of profit booking (selling) at this level.

In fact, we will be looking out for faster retracement of the last leg of decline, as that would be the first indication of a trend reversal.

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Nifty likely to open lower; 3 stocks which can give up to 11% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 58 points or 0.57 percent. Nifty futures were trading around 10,151-level on the Singaporean Exchange.

The Nifty50 is expected to open lower on Wednesday tracking negative trend seen in other Asian markets and a weak handover from Wall Street. The index closed 53 points higher or 0.53 percent at 10,184.15 on Tuesday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 58 points or 0.57 percent. Nifty futures were trading around 10,151-level on the Singapore Stock Exchange.

Wall Street closed sharply lower Tuesday, with each of the major US indexes suffering their fourth decline in five sessions, fueled by a selloff in the tech sector. Tech stocks, among the best performing sectors of the bull market, have been under pressure recently as concerns about government regulation stemming from their strong growth and privacy questions surrounding Facebook, Reuters reported.

The Dow Jones Industrial Average fell 344.89 points, or 1.43 percent, to 23,857.71, the S&P 500 lost 45.93 points, or 1.73 percent, to 2,612.62 and the Nasdaq Composite dropped 211.74 points, or 2.93 percent, to 7,008.81.

Asian stocks posted declines early on Wednesday trade after US stocks fell sharply on the back of declines in technology names. That cut short a rally seen in Europe and Asia's Tuesday session linked to an apparent easing in trade-related tensions, CNBC reported.

The Nikkei 225 fell 2.15 percent in Tokyo, with the stock average reversing most of its gains made in the overnight session. The broader Topix was down 2.04 percent.

Stocks in news:

Hindustan Aeronautics to debut on bourses today: State-owned Hindustan Aeronautics will list its equity shares on exchanges today. The final issue price is fixed at Rs 1,240 per share. The Rs 4,229-crore initial public offer of state-owned Hindustan Aeronautics was subscribed 99 percent during March 16-20, 2018, supported by QIB.

TPG-backed Manipal Hospitals buys Fortis Healthcare, to invest Rs 3,900 crore
Fortis Healthcare Board approved the demerger of its hospitals business into Manipal Hospital Enterprises. The Board has also approved sale of its 20 percent stake in SRL to Manipal Hospitals.

Wipro launches tech center in Texas, to raise headcount to 2,000

Govt must reduce stake in public sector banks to check on frauds

L&T Construction bags Rs 4,353 crore orders in the T&D business

Lupin: It has received US FDA nod for generic of Clobex Spray.

State Bank of India: The bank is mulling the possibility of merging SBI Card JV entities with itself.

Dena Bank: Gets shareholders' nod for the issue of shares worth Rs 3,045 crore to the government.

Technical Recommendations:

Here’s what Guiness Securities has to recommend:

Bajaj Finance Ltd: Buy | Close: 1772.45 | Target: Rs 1960 | Stop loss: Rs 1650 | Return: 10.58%

UPL Ltd: Buy | Close: 736.80 | Target: Rs 800 | Stop loss: Rs 699 | Return: 8.55%

Balkrishna Industries Ltd: Buy | Close: 1095.15 | Target: Rs 1200 | Stop loss: Rs 1050 | Return: 9.59%

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Serum Institute Of India sells 31.57 lakh shares of Panacea Biotec

Serum Institute Of India sold 31,57,900 shares of Panacea Biotec at Rs 285.

On March 26, 2018 Adar Cyrus Poonawalla bought 31,57,900 shares of Panacea Biotec at Rs 285.

However, Serum Institute Of India sold 31,57,900 shares at Rs 285.

In the previous trading session, the share closed up 9.56 percent or Rs 24.95 at Rs 285.95.

The share touched its 52-week high Rs 364.00 and 52-week low Rs 129.10 on 14 February, 2018 and 25 May, 2017, respectively.


Currently, it is trading 21.44 percent below its 52-week high and 121.49 percent above its 52-week low.

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Market Update: PSU Bank index up 1% led by SBI; CNX IT drags as Wipro falls 2%; GAIL, HPCL shed up to 4%

The market breadth was in favour of the declines with 686 stocks advancing while 914 declined and 413 remained unchanged. On the other hand, in the BSE, 463 stocks advanced and 1074 declined and 96 remained unchanged.

The Indian equity market was trading almost flat on Monday morning with the Nifty trading lower  by 9 points, trading below the 10,000 mark at 9988 while the Sensex was up 25 points or 0.08 percent.

Nifty PSU banking index was up 1 percent led by Bank of Baroda, State Bank of India and Punjab National Bank, each adding over 1 percent. Oriental Bank of Commerce and Union Bank of India were the other gainers.

However, CNX IT was trading lower by close to 1 percent dragged by Tata Consultancy Services, Wipro, Oracle Financial Services,Mindtree and Tech Mahindra.

The top Nifty gainers included Bajaj Finance which was up 1.5 percent followed by ICICI Bank, State Bank of India, IndusInd Bank and Yes Bank, each adding over 1 percent.

The top Nifty losers included GAIL India and HPCL which fell close to 3 percent while BPCL, Indian Oil Corporation and Wipro were the other losers.

The most active Nifty stocks included Jubilant Foodworks, ICICI Bank, Titan Company, Tata Steel and Yes Bank.

129 stocks hit new 52-week low including names like Capital First, Chennai Petroleum, Gammon India, GSK Pharma, IL&FS Engineering, PTC India, Reliance Naval, Tata Motors and Union Bank of India among others.

MMTC was sup 6.6 percent followed by Cadila Healthcare, Aban Offshore, SKF India and Sundaram Fasteners which were few of the top Sensex gainers while HCC, Vakrangee, IDBI Bank, Videocon and MCX India were the top losers.

The market breadth was in favour of the declines with 686 stocks advancing while 914 declined and 413 remained unchanged. On the other hand, in the BSE, 463 stocks advanced and 1074 declined and 96 remained unchanged.

Global research firm CLSA has upgraded Cadila Healthcare to Buy from Underperform and has raised target to Rs 450 from Rs 440. It is of the view that improving India outlook and strong US pipeline is likely to drive earnings.

The house expects 16 percent earnings CAGR over FY18-20.

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Bulls run for cover as US, China trade duties

Escalating tensions between Washington and Beijing gripped global markets with Indian benchmark indices declining over 1 per cent to close at a five-month low and the Nifty ending below 10,000 for the first time since October 2017 on Friday. The week also marked the third weekly decline in the Indian markets. 

Trade war concerns snowballed after US President Donald Trump on Thursday announced tariffs on at least $50 billion in Chinese imports. Beijing retaliated on Friday unveiling tarif on $3 billion of US imports as nervous investors groped in the dark, uncertain about implications of the moves on global economic recovery. 

The Sensex tumbled 409.73 points, or 1.2 per cent, to end at 32,596.54, the lowest since October 18 last year. The Nifty declined 116.70 points, or 1.2 per cent, to 9,998.05, the lowest since October 11 last year. The Sensex fell 1.7 per cent and the Nifty was down 1.9 per cent for the week. 

“If global markets fall, India cannot escape. Trade wars are problematic — how far it will go is a matter of concern,” said Shankar Sharma, vice-chairman of First Global. 

CLSA chief strategist Christopher Wood expects some kind of truce to emerge. 

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Buy or sell: Stock trading ideas by Ashwani Gujral, Mitessh Thakkar & Prakash Gaba for March 23

Mitessh Thakkar of miteshthacker.com recommends selling Arvind with a stop loss of Rs 391 and target of Rs 363, a sell on Bharat Electronics with a stop loss of Rs 147 and target of Rs 134 and a sell also on Federal Bank below Rs 89.5 with stop loss of Rs 91.5 for target of Rs 84.

The Nifty50 witnessed profit booking decline soon after it reclaimed 10200. The index has crucial support around 200-DEMA but one thing is clear that the current market structure closely resembles sell on rallies kind of markets.

The index witnessed selling pressure in three out of four days when the index rose above 10200 levels. Hence, for bulls to regain control, 10,200 is crucial for the bulls, suggest experts.

The Nifty index which opened at 10105 rose to an intraday high of 10207 before bears mauled the D-Street. The index slipped to an intraday low of 10105. The index closed 40 points lower at 10,114.

India VIX move up by 0.93 percent at 15.24. On the options front, maximum Put open interest is placed at 10000 followed by 10100 strikes while maximum Call open interest is at 10500 followed by 10400 and 10200 strikes.

According to Pivot charts, the key support level is placed at 10,077.53, followed by 10,040.27. If the index starts moving upwards, key resistance levels to watch out are 10,179.93 and 10,245.07.

The Nifty Bank index closed at 24,141.5 on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 24,052.74, followed by 23,963.97. On the upside, key resistance levels are placed at 24,272.34, followed by 24,403.17.

The Nifty futures on the Singaporean stock exchange were trading lower by around 118 points at 9950, a fall of around 1.17 percent. This indicates that the domestic market is likely to open on a negative note.

Moneycontrol.com has collated a list of trading ideas from top market experts which one can take cues for better returns:

Ashwani Gujral of ashwanigujral.com

Sell Adani Enterprises with a stop loss of Rs 164, target of Rs 152

Sell Power Finance Corporation with a stop loss of Rs 90, target of Rs 92

Sell Jet Airway with a stop loss of Rs 646, target of Rs 620

Sell Reliance Capital with a stop loss of Rs 416, target of Rs 398

Buy Hexaware Technologies with a stop loss of Rs 380, target of Rs 395

Mitessh Thakkar of miteshthacker.com

Sell Arvind with a stop loss of Rs 391 and target of Rs 363

Sell Bharat Electronics with a stop loss of Rs 147 and target of Rs 134

Sell Federal Bank below Rs 89.5 with stop loss of Rs 91.5 for target of Rs 84

Sell SREI Infra with a stop loss of Rs 78.5 and target of Rs 71

Sell Reliance Capital below Rs 409 with stop loss of Rs 416 and target of Rs 390

Prakash Gaba of prakashgaba.com

Buy National Aluminium Company with target at Rs 74 and stop loss at Rs 66

Sell Can Fin Homes with target at Rs 500 and stop loss at Rs 525

Sell Divi's Labs with target at Rs 1040 and stop loss at Rs 1100

Sell Jet Airways with target at Rs 617 and stop loss at Rs 666

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Buy or sell: Stock trading ideas by Ashwani Gujral, Mitessh Thakkar & Prakash Gaba for March 22

Mitessh Thakkar of miteshthacker.com recommends buying Dewan Housing Finance with a stop loss of Rs 513 and target of Rs 537, ICICI Prudential Life Insurance with a stop loss of Rs 377 and target of Rs 395 and a buy also on Jubilant Food with a stop loss of Rs 2180 and target of Rs 2275.

The Nifty started on a positive note Wednesday but failed to keep the momentum going. The index closed below its crucial 200-day exponential moving average (DEMA) for the second day in a row. It formed a small-bodied candle which closely resembles a ‘Spinning Top’ kind of indecisive pattern.

The Nifty index opened gap up and negated its formation of lower highs - lower lows of the last four trading session. It came under selling pressure in afternoon trade and pulled the index below 200-DEMA placed around 10165, and 5-DEMA which was placed at 10,185.

Investors are advised to tread with caution ahead of the US Federal Reserve policy meeting. But, technically, there is a higher possibility the market has bottomed out near 10,040, suggest experts.

India VIX fell down by 3.22 percent at 15.10. A decline in volatility from the last two trading sessions is providing some comfort to the Bulls but needs to fall below 13.50-13 to process for a short-term reversal after the recent decline of around 1100 points.

According to Pivot charts, the key support level is placed at 10,116.37, followed by 10,077.53. If the index starts moving upwards, key resistance levels to watch out are 10,210.67 and 10,266.13.

The Nifty Bank index closed at 24,255.6 on Wednesday. The important Pivot level, which will act as crucial support for the index, is placed at 24,156.27, followed by 24,056.93. On the upside, key resistance levels are placed at 24,407.37, followed by 24,559.13.

The Nifty futures on the Singaporean stock exchange were trading higher by around 17.5 points at 10,196, a rise of around 0.17 percent. This indicates that the domestic market is likely to open on a flat to positive note.

Moneycontrol.com has collated a list of trading ideas from top market experts which one can take cues for better returns:

Ashwani Gujral of ashwanigujral.com

Buy Radico Khaitan with a stop loss of Rs 338, target of Rs 360

Buy Jubilant Foodworks with a stop loss of Rs 2180, target of Rs 2260

Buy Sonata Software with a stop loss of Rs 310, target of Rs 325

Sell Union Bank of India with a stop loss of Rs 98, target of Rs 90

Sell BHEL with a stop loss of Rs 85, target of Rs 77

Mitessh Thakkar of miteshthacker.com

Buy Dewan Housing Finance with a stop loss of Rs 513 and target of Rs 537

Buy ICICI Prudential Life Insurance with a stop loss of Rs 377 and target of Rs 395

Buy Jubilant Food with a stop loss of Rs 2180 and target of Rs 2275

Buy Motherson Sumi Systems with a stop loss of Rs 301 and target of Rs 322

Sell Godrej Industries with a stop loss of Rs 538 and target of Rs 500

Prakash Gaba of prakashgaba.com

Buy Bharat Financial with target at Rs 1108 and stop loss at Rs 1075

Sell Apollo Hospitals with target at Rs 1000 and stop loss at Rs 1040

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Nifty likely to remain in a narrow range; 5 stocks which could give up to 11% return

The Nifty is likely to remain in a narrow range for the next few trading sessions with immediate support seen around 10,000-10,100 levels whereas 10,400-10,500 will act as a major hurdle.

Soumen Chatterjee

The Nifty50 snapped its four-day losing streak and closed 30 points higher at 10,124.35 on Tuesday ahead of two-day US Federal Reserve meeting beginning later in the day.

The index opened with negative bias but managed to close with marginal gains of 0.30 percent. During the day, Nifty went higher till 10,155.65 but gave up the gains as it took resistance of its 200-DMA placed around 10,166 mark.

The Relative Strength Index – RSI on the Daily Chart is at 36.01; is in neutral to negative zone with no divergence against the price and MACD is continuously sustaining below zero line with a negative cross.

Meanwhile, -DI is continuously trading above +DI which indicates weakness to continue and Nifty may slide towards the psychological level of 10,000.

On the options front, maximum Put open interest is placed at 10,000 (68.16 lakh contracts) followed by 10,100 strikes (49.07 lakh contracts) while maximum Call open interest is placed at 10500 (64.70 lakh contracts) followed by 10,400 strikes (50.73 lakh contracts).

As per the options data, the support level in Nifty has shifted lower in the March expiry compared to last week. The Nifty is likely to remain in a narrow range for the next few trading sessions with immediate support seen around 10,000-10,100 levels whereas 10,400-10,500 will act as a major hurdle; however, before that Nifty has to manage to close above its 200 DMA.

India VIX marginally fell 1.34 per cent at 15.60; however, it is still trading above the crucial mark of 14.00 which indicates mild volatility to remain in this expiry.

Here is a list of top five trading ideas which could give up to 11% return in the short term:

GM Breweries Ltd: Buy | Target: Rs 1114 | Stop loss: Rs 945 | Return: 11.40%

The stock has given a consolidation breakout above Rs 975-980 levels last Friday with higher volumes in the daily scale. The Relative Strength Index (RSI) and MACD has given positive crossover and are in Buy mode.

Traders can buy the stock at the current level and add on dips around Rs 980-990 with a stop loss below Rs 945 (closing) for the target of Rs 1114.

Bharat Financial Inclusion Ltd: Buy | Target: Rs 1126 | Stop loss: Rs 1030 | Return: 6.02%

The stock has given consolidation breakout on a closing basis with moderate volume in weekly scale. The Weekly Relative Strength Index (RSI) showing upward momentum and +DI continuously trading above -DI while MACD is sustaining above zero line and trying to cross over the signal line, which indicates the stock price has potential to move higher.

Traders can buy the stock in a range of Rs 1063-1054 with a stop loss below Rs 1030 (close) for a target of Rs 1126.

Marico Ltd: Buy | Target: Rs 339 | Stop loss: Rs 306 | Return: 6.29%

The stock has given a breakout from symmetrical triangle pattern above Rs 310 levels with higher volumes in the daily scale.

The Daily Relative Strength Index (RSI) showing upward momentum and MACD trading with positive crossover where OBV—On Balance Volume continuously making higher highs which indicates that the stock has potential to move higher from current levels.

Traders can buy the stock around current levels and add on dips around Rs 312-314 with a stop loss below Rs 306 (closing) for the target of Rs 339.

L&T Finance Holdings: Sell | Target: Rs 137 | Stop loss: Rs 163.30 | Return: 10.81%

The stock has given a breakdown from symmetrical triangle pattern below Rs 158 levels on Monday in daily scale. The Daily Relative Strength Index (RSI) showing downward momentum and -DI continuously trading above +DI while MACD continuously sustaining below zero line with a negative cross, which indicates that the stock is in corrective mode. Traders can sell the stock with a stop loss above Rs 163.50 (closing) for the target of Rs 137.

ONGC: Sell | Target: Rs 165 | Stop loss: Rs 179 | Return: 5.23%

The stock slipped below its crucial long-term support of 200DMA placed around 176-177 levels. Daily Relative Strength Index (RSI) showing downward momentum and MACD continuously sustaining below zero line, signaling weakness.

Traders can sell the stock in the range of Rs 174-176 with a stop loss above Rs 180 (close) for a target of Rs 165.

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Nifty could slip towards 9,900; 3 stocks which could give up to 11% return

A close beyond 10,400 levels with healthy volumes can pause the current bearishness triggering a short covering to levels of 10,640-10,730.

Aditya Agarwala

The Nifty index Futures continued to slide lower for the second month in a row making it 10 percent decline from the record highs. Further, it has broken down from a broadening wedge pattern along with a close below the 200-DMA, affirming weakness dominant in the markets at the moment.

A sustained trade below 10,050 can accelerate the fall to levels of 9,930-9,700. However, a close beyond 10,400 levels with healthy volumes can pause the current bearishness triggering a short covering to levels of 10,640-10,730.

Moreover, the relative strength index or the RSI has turned down from the neutral levels of 50 on two occasions in recent pullbacks suggesting further weakness in the coming trading sessions.

Here is the list of stocks which can give up to 11 percent return:

Arvind Ltd: SELL| Target Rs345| Stop Loss Rs410| Return 11%

On the weekly chart, Arvind Ltd. (ARVIND) is on the verge of a breakdown from the channel support placed at Rs382.

A sustained trade below the support line of the pattern will trigger the start of a bear trend dragging the stock lower in the coming trading sessions. On the daily chart, the stock has broken down from a head & Shoulders pattern confirming a bear trend reversal.

Moreover, RSI has turned down from the neutral level of 50 affirming a range sift in favour of the bears. The stock may be sold in the range of Rs388-384 for targets of 360-345, keeping a stop loss below Rs410.

Tata Elxsi Ltd: SELL| Target Rs880| Stop Loss Rs1020| Return 10%

On the weekly chart, Tata Elxsi Ltd is on the verge of a breakdown from the neckline of a Head & Shoulders pattern suggesting bearishness building up in the stock. The neckline of the pattern is placed at 974, a sustained trade below this neckline can trigger sharp corrections.

Moreover, on the daily chart, it has broken down from a trend line support affirming further weakness in the stock. The RSI has turned downwards breaking out of the lower band of the Bollinger Bands suggesting lower levels in the coming trading sessions.

The stock may be sold in the range of 983-978 for targets of 915-880, keeping a stop loss below 1020.

Maruti Suzuki India Ltd: BUY| Target Rs9760| Stop Loss Rs8400| Return 11%

On the weekly chart, Maruti Suzuki India Ltd. is taking support at the lower end of a rising channel placed at 8700 levels.

A sustained trade above 8700 can resume the uptrend taking it higher. On the daily chart, the stock is on the verge of a breakout from channel resistance placed at 9000 after forming a consolidation base around 8600 levels.

The stock may be bought in the range of 8750-8800 for targets of 9450-9760, keeping a stop loss below 8400.

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Top buy or sell ideas by experts for March 19, 2018

Here is a list of top 5 trading ideas which could give up to 10% return in the short term,

A volatile week came to an end but one factor which will weigh on the trading community is that the Nifty is now trading below its crucial short-term moving averages. It closed below its 100-day exponential moving average (DEMA) which was placed around 10,405 for the week ended March 16.

The Nifty50 fell from an intraday high of 10,478 recorded on March 13 to close the week at 10,195, down 0.3 percent for the week. The index closed below is short-term moving averages on the weekly charts as well which does not augur well for the bulls.

The index which started the week on a high note consolidated throughout the week and closed with a big bear candle on Friday.

The heavy sell-off on Friday resulted in a decent cut from weekly highs to conclude proceedings below the 10,200 mark, on the weekly basis, for the first time after December 01, 2017.

Here is a list of top 5 trading ideas which could give up to 10% return in the short term:

Analyst: Dinesh Rohira, Founder & CEO, 5nance.com

Adani Transmission Ltd: BUY| Target Rs. 210 | Stop-loss Rs179 | Return 10%

Adani Transmission made a decent comeback after struggling near 160 levels and is now looking in an uptrend on its weekly price chart.

Although it witnessed a selling pressure at a higher level during the last week, the scrip rebounded to close with 4 percent gain at 190. It also witnessed a similar trend on volumes.

The scrip formed a bullish candlestick pattern on its weekly price chart coupled with positive cues from its MACD and Signal Line. Further, a reasonable RSI at the current level and sustain volume breakout in the last session supports a short-term uptrend.

The support level for scrip is currently placed at 171 and resistance level from the upper band at 214. We have a BUY recommendation for Adani Transmissions which is currently trading at Rs. 190.85

Vakrangee Ltd: BUY| Target Rs265 | Stop-loss Rs235 | Return 7%

After witnessing a major consolidation near 154 levels, Vakrangee continued to trade in an uptrend trajectory on the weekly basis.

On the daily price chart, the scrip continued to form a strong bullish candlestick pattern. The RSI at 55.9 levels further signals a price trading above its resistance level and showing a positive trend. It has a strong cue from MACD at 16.3 signalling a positive trend.

Coal India Ltd: SELL| Target Rs263 | Stop-loss Rs288 | Return 5%

Coal India continued to consolidate on its daily price movement despite gaining a momentum at a certain level but failed to hold, and slipped about 8 percent on weekly basis.

The scrip formed a strong bearish candlestick pattern on its weekly price chart as it got below 200-days EMA level which is expected to keep the stock under pressure.

Analyst: Sameet Chavan- Chief Analyst, Technicals and Derivatives at Angel Broking

MCX Ltd: BUY| Target Rs855| Stop Loss Rs782| Return 6%

Since the early part of February, we have been quite vocal on the possible bottoming out formation around the Rs700 mark. We remained contradictory buyers from the level of Rs730 and this strategy eventually turned out to be quite fruitful for us.

Considering the volume activity in this price action, the stock is still not done with its upward move. Hence, a buy is recommended for a target of Rs.855, and traders are advised to follow a strict stop loss placed below Rs.782.

Tata Steel Ltd: SELL| Target Rs550| Stop Loss Rs634| Return 8%

This metal giant continues to be our preferred shorting candidate in the last month and a half. Every meaningful bounce we used as a shorting opportunity in the recent past which has paid off.

Now, finally, our anticipation turned into a confirmation during the penultimate week; adding conviction to our cautious stance.

We recommend shorting the stock on some bounce back towards Rs608 – 612, which will make the risk-reward ratio a bit favorable. One can look to go short for a target of Rs. 550 by following a strict stop loss of Rs.634.

 Capital Ways Investment Adviser
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Top buy or sell trading ideas by experts for March 16, 2018, which can give up to 18 percent return

Going forward, Nifty has an immediate support near 10285 and if it sustains below this level will lead to a further correction towards 10210 and 10141 levels respectively.

The bears had an upper hand in Thursday’s trading session as they were successful in pushing the Nifty50 below its key short-term moving averages. The index closed 50 points lower at 10,360.

After defending the 200-DMA last week, the bulls showed some resilience and rebounded sharply during the initial part of the week.

However, the up move got restricted near its daily 45-EMA and we saw quick profit booking during the mid-part.

The daily 9, as well as 45 days exponential moving averages on price, is negative; hence, the immediate trend looks negative.

However, on a medium-term basis as long as the index is trading above 10033 which coincides with the weekly swing low and the weekly 45-EMA the overall trend is still up.

Going forward, Nifty has an immediate support near 10285 and if it sustains below this level will lead to a further correction towards 10210 and 10141 levels respectively.

On the other side, 10478 will act an immediate hurdle above which the index likely to rally towards 10630.

Capital Ways Investment Adviser
605, Industry House , AB road Indore (MP) 452001
info@capitalways.com
8517810864

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Nifty likely to head towards 10,600; 3 stocks which can give up to 21% return in 6 months

Gradually, Nifty will head towards last five week’s identical high of 10650, as it coincides with 50% retracement level of entire fall from January peak (11172-10142), placed at 10656.

By Dharmesh Shah

Equity benchmarks witnessed a subdued session and settled at 10366 levels. Since January 2018 peak, we have observed that index has seen up move over three consecutive sessions, in line with that, the market took a breather on Tuesday after three sessions rise.

In the last five sessions, Nifty has retraced 61.8% of earlier six days fall, indicating weak pullback, suggesting a round of a couple of day’s consolidation in a range of 10300 – 10450 levels.

We believe that the market will hold the intermediate support of 10300 as it is the confluence of:
a) 50% retracement level of recent pullback (10142 -10479)
b) The lower band of February’s consolidation range

Thus, any breather towards 10300 should be used as an incremental buying opportunity in quality stocks. Going ahead, we expect that the ongoing consolidation in the range of 10300 - 10450 would set the stage for next leg of a pullback.

Gradually, Nifty will head towards last five week’s identical high of 10650, as it coincides with 50% retracement level of entire fall from January peak (11172-10142), placed at 10656.

Therefore, 10450 would be the key level to watch out for as it is a confluence of:

a) The placement of falling channel (drawn adjoining recent lows of 10398 – 10303 and projected from high of 10632) around 10445

b) 61.8% retracement level of the last leg of fall (10632 – 10142) placed at 10444 coming session

Structurally, the recent decline of 490 points was smaller than the last leg of the fall of almost 896 points, indicating a deceleration of selling pressure near key support zone of 10100–10000.

After the first leg of the fall of 896 points, the Nifty retraced over 360 points. Thus, a comparatively bigger magnitude of pullback from here on would be the first signal of structural strength.

The Nifty and Nifty Midcap indices had broken out of their February lows whereas Nifty small cap managed to hold above it, indicating relative strength. At the same time, the Nifty small cap index has taken support from the lower band of a long term rising channel and bounced back.

Hence, we expect broader market to outperform amid the stock specific action. At the same time, we expect the index to hold the earmarked support of 10000 –10100 and form a base in the range of 10000 -10450.

Titan Company Ltd: BUY| CMP Rs865| Target Rs1048| Stop Loss Rs768| Return 21% Time Frame 6 months

The stock witnessed a strong rally in the CY17 rallying from a low of | 297 to its all-time high of | 824. In the process, the stock witnessed a faster retracement of its last major decline as the 22-month decline was completely retraced in just seven months.

At present, stock confirmed the rising channel breakout (containing the entire price activity since March 2011 till date) by retesting it on the monthly chart, signalling a structural turnaround in favour of the bulls on the long-term chart.

The key support base for the stock is placed around Rs770 region as it is the trend line support joining previous lows December 2016 (Rs307) and October 2017 (Rs582), which also coincides with the recent trough of February 2018 thus making it a major support for the stock.

The key observation of price action reveals that the previous rally during December 2016 lows (297-654=357 points) has become bigger in magnitude than the preceding February 2014 – January 2015 rally (203- 444=241 points).

Further, the decline during September-October 2017 (| 654-564=90 points) is lower in magnitude compared to September–November 2016 decline (444-297=147 points).

The price rallies getting bigger and swifter while declines becoming shallower, is a hallmark of the bull phase and corroborates the bullish view on the stock.

Considering the robust price structure and above-mentioned technical observations, we expect the stock to continue its current uptrend and head towards Rs1048 in the medium term where current up move from December 2017 low of Rs773 would achieve price parity with the previous major rally from Rs564 to Rs839 (839-564=275 points).

Godrej Properties: BUY| CMP Rs758| Target Rs850| Stop Loss Rs715| Return 12% Time Frame 1 months.

 Capital Ways Investment Adviser
605, Industry House , AB road Indore (MP) 452001
info@capitalways.com
8517810864

https://www.capitalways.com/

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