Podcast | Stock picks of the day: ITC among 3 stocks which could return 9-12%

We expect the ongoing correction to mature in the coming 1-2 weeks around the major support area of 10,200.

ICICI Direct.com Research

The equity benchmarks witnessed a sharp rebound on Wednesday after tumbling to their lowest weekly closing level in the last six months as relentless selling pressure across the board saw the index testing 10,200 levels earlier during the week.

We expect the index to continue with the current pullback and test last Friday’s bearish gap area around 10,600 levels in the coming sessions.

The index has seen a sharp decline of more than 13 percent in the last five weeks which has led to an extreme oversold reading around 10 on the weekly stochastic. Hence, a pullback from the oversold territory seen on Wednesday’s session was on the expected lines.

ove Friday’s bearish gap area (10600) and also form a higher high-low for more than two consecutive sessions as it has not extended a pullback for more than two trading sessions during the current corrective phase since August 2018 high of 11760.

Time wise, since the beginning of CY18, each directional leg in the Nifty has lasted for seven to eight weeks. In the present scenario, the index has maintained the rhythm by correcting for the fifth successive week.

We expect the ongoing correction to mature in the coming 1-2 weeks around the major support area of 10,200. The volatility is likely to remain high ahead of Q2FY19 earning season and macro data like IIP, CPI, going ahead.

As both time-wise and price-wise, the index is approaching maturity so we suggest to utilise the current decline to accumulate quality stocks in a staggered manner in the coming weeks.

The index has major support around 10200 levels as it is the confluence of the following technical observation:
a) Trendline support joining the lows of September 2017 (9688) and March 2018 (9952) placed at 10250 levels
b) The 38.2% retracement of the entire rally from December 2016 to August 2018 (7894-11760) placed at 10280 levels.

Capital Ways Investment Adviser
101-202 SURYODAY BUILDING 
2/1 DR RS BHANḌARI MARG , INDORE (MP) 452001
info@capitalways.com
Contact Us: 08517810864

Jefferies bets big on Astral, Finolex and Supreme Industries

Expects these players to benefit the most from transition to organised segment.

Jefferies is betting on Indian pipes industry citing a gradual shift to organised players. It expects players such as Astral Poly, Supreme Industries and Finolex Industries to benefit the most from this transition.

Along with it, companies are also diversifying their products to enhance profitability, the global research firm observed. Based on these reasons, it has initiated coverage on these stocks with a buy call.

Moreover, the recent market crash is a good opportunity for entering such quality names.

“While mid and smallcap indices corrected by 15-20% month-on-month, Astral, Finolex and Supreme Industries declined 25%, 13% and 16%, respectively. This has left them within 5-10% of their five-year average and 30-40% lower than YTD peaks.

The key trigger is diversification into value-added sales streams (adhesives, packaging, consumer products, CPVC pipes etc.) which command premium valuations over pure-play PVC pipes, analysts at the firm wrote in their report.

Additionally, superior growth prospects with financial discipline (high return ratios, and robust free cash flow, among others) should support multiples, they further wrote.

Capital Ways Investment Adviser
101-202 SURYODAY BUILDING 
2/1 DR RS BHANḌARI MARG , INDORE (MP) 452001
info@capitalways.com
Contact Us: 08517810864

Top buy & sell ideas by Ashwani Gujral, Sudarshan Sukhani, Mitessh Thakkar for short term

Mitessh Thakkar of mitesshthakkar.com is of the view that one can sell Container Corporation of India with a stop loss of Rs 613 and target of Rs 573 and buy Aurobindo Pharma with a stop loss of Rs 722 and target of Rs 760.

The Nifty ended the volatile session in green with gains of 31 points on Monday making a ‘Hammer’ like pattern on the daily charts. The Nifty closed in green after shedding around 600 points in the last 4 sessions.

The Nifty bounced back from its crucial support placed at 10,200 levels. It reclaimed 10,300 levels on closing basis and now as long as it holds above this level, the bounce should take the Nifty towards 10,420, and 10,500 levels, suggest experts.

India VIX moved up by 2.12 percent at 20.15 levels but it slipped from its intraday swing high of 21.77 levels. Overall, higher volatility suggests a bear grip but a cool off in VIX with a topping out formation could form a short-term bottom in the market.

Technically, the crucial resistance is now placed at 10,500-11,000 levels and pullback towards the said level might face extensive selling pressure, suggest experts.

According to Pivot charts, the key support level is placed at 10,231.5, followed by 10,115.0. If the index starts moving upwards, key resistance levels to watch out are 10,431.4 and 10,514.8.

The Nifty Bank index closed at 24,618.3. The important Pivot level, which will act as crucial support for the index, is placed at 24,323.8, followed by 24,029.3.

On the upside, key resistance levels are placed at 24,829, followed by 25,039.7.

In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:

Buy JSW Steel with a stop loss of Rs 372, target of Rs 390

Buy Titan Company with a stop loss of Rs 808, target of Rs 830

Buy Bajaj Auto with a stop loss of Rs 2550, target of Rs 2630

Sell Manappuram Finance with a stop loss of Rs 70, target of Rs 62

Sell BEML with a stop loss of Rs 581, target of Rs 560

Sudarshan Sukhani of s2analytics.com

Buy ACC with stop loss at Rs 1450 and target of Rs 1500

Buy Apollo Hospitals with stop loss at Rs 1060 and target of Rs 1105

Buy Hindustan Unilever with stop loss at Rs 1535 and target of Rs 1575

Buy Titan Company with stop loss at Rs 785 and target of Rs 840

Sell Hindalco Industries with stop loss at Rs 230 and target of Rs 212

Mitessh Thakkar of mitesshthakkar.com

Sell Container Corporation of India with a stop loss of Rs 613 and target of Rs 573

Buy Aurobindo Pharma with a stop loss of Rs 722 and target of Rs 760

Sell PAGE Industries with a stop loss of Rs 29600 and target of Rs 27800

Buy Sun Pharma around Rs 595 with stop loss of Rs 584 and target of Rs 620

Capital Ways Investment Adviser
101-202 SURYODAY BUILDING 
2/1 DR RS BHANḌARI MARG , INDORE (MP) 452001
info@capitalways.com
Contact Us: 08517810864

Top buy & sell ideas by Ashwani Gujral, Sudarshan Sukhani, Mitessh Thakkar for short term

Sudarshan Sukhani of s2analytics.com recommends selling Can Fin Homes with stop loss at Rs 240 and target of Rs 218, Cummins India with stop loss at Rs 665 and target of Rs 635 and Sun TV with stop loss at Rs 625 and target of Rs 575.

The market continued to see relentless selling pressure between October 1 and 5, with the Nifty falling 5.6 percent to close a tad above 10,300 levels. The surprise move on rates by Reserve Bank of India's (RBI's) Monetary Policy Committee (MPC), the consistent fall in the rupee and crude volatility attributed to the selling pressure.

The Nifty 50 closed at a six-month low on October 5, making a large bearish candle on the daily as well as weekly charts.

Experts said the sharp fall in the last few sessions indicated that there could be a relief rally in the coming week, but if it corrects further it could break the psychological 10,000 level as well.

After opening lower at 10,514.10, the Nifty 50 gradually extended losses as the day progressed to fall below 10,300 and hit an intraday low of 10,261.90 in late trade. The index closed 282.80 points down at 10,316.50.

India VIX moved up by 4.32 percent to 19.73 levels. Volatility is not cooling down which is not giving the relief to bulls and suggests a tight bear grip in the market, experts said.

According to Pivot charts, the key support level is placed at 10,205.37, followed by 10,094.23. If the index starts moving upwards, key resistance levels to watch out are 10,484.17 and 10,651.83.

The Nifty Bank index closed at 24,443.45, down 375.85 points on Friday. The important Pivot level, which will act as crucial support for the index, is placed at 24,102.66, followed by 23,761.93. On the upside, key resistance levels are placed at 24,932.16, followed by 25,420.93.

In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:

Buy Infosys with a stop loss of Rs 720, target of Rs 745

Buy Tata Consultancy Services with a stop loss of Rs 2080, target of Rs 2200

Sell Dewan Housing Finance with a stop loss of Rs 281, target of Rs 265

Sell L&T Finance Holdings with a stop loss of Rs 124, target of Rs 112

Sell Indian Bank with a stop loss of Rs 234, target of Rs 220

Sell Can Fin Homes with stop loss at Rs 240 and target of Rs 218

Sell Cummins India with stop loss at Rs 665 and target of Rs 635

Sell Sun TV with stop loss at Rs 625 and target of Rs 575

Buy HCL Tech with stop loss at Rs 1070 and target of Rs 1100

Buy Sun Pharma with stop loss at Rs 590 and target of Rs 620

Mitessh Thakkar of mitesshthakkar.com

Sell Bajaj Auto around Rs 2560 - 2570 with stop loss of Rs 2616 and target of Rs 2460

Sell Balkrishna Industries with a stop loss of Rs 1020 and target of Rs 970

Buy Bata India with a stop loss of Rs 844 and target of Rs 890

Sell Chennai Petroleum Corporation around Rs 260 with stop loss of Rs 268.5 and target of Rs 243

Capital Ways Investment Adviser
101-202 SURYODAY BUILDING 
2/1 DR RS BHANḌARI MARG , INDORE (MP) 452001
info@capitalways.com
Contact Us: 08517810864

ICICI Bank, ITC among top 5 stocks which could give multibagger returns

We continue to prefer consumers post correction along with retail-focused private banks and bottom-up mid-cap picks, Gaurav Dua, Head of Research, Sharekhan by BNP Paribas, said in an interview to Moneycontrol’s Kshitij Anand.

Q) Sensex plunged by nearly 2000 points in just 4 trading sessions in the week gone by. As a house view, what are you advising your clients?

A) The RBI policy remained the key event with the MPC surprising with no rate hike and the talk on tightening capital adequacy rules which kept markets under selling pressure especially financials.

We reiterate our cautious view on the market and we feel that rising oil prices will be a concern. Also, the ongoing trade wars between the US and China will continue to keep investors on the edge.

However, amidst this turmoil, we feel there are select buying opportunities in sectors such as IT and Pharma. We like stocks such as HCL Tech from the IT space and Sun Pharma. A weaker rupee will help aid margins for these companies in the coming months.

Capital Ways Investment Adviser
101-202 SURYODAY BUILDING 
2/1 DR RS BHANḌARI MARG , INDORE (MP) 452001
Contact Us:08517810864

Top buy & sell ideas by Ashwani Gujral, Sudarshan Sukhani, Mitessh Thakkar for short term

Sudarshan Sukhani of s2analytics.com suggests buying ACC with stop loss at Rs 1505 and target of Rs 1580 and HCL Technologies with stop loss at Rs 1070 and target of Rs 1100.

The 50-share NSE index opened sharply lower at 10,754.70 which was highest point of the day and fell further as the day progressed to hit an intraday low of 10,547.25 amid volatility. The index closed 259 points lower at 10,599.30, the lowest level since June 28, 2018.

The index formed a 'Bearish Belt Hold' kind of pattern on the daily candlestick charts.

"Bears continued to rule the roost with Nifty50 registering a gap down opening below its 200-Day EMA before signing off the session with a Bearish Belt Hold kind of formation," Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in, told Moneycontrol.

India VIX moved up by 8.05 percent at 19.58 levels. Volatility is not cooling down which is not giving the relief to bulls and suggests a tight bear grip in the market.

According to Pivot charts, the key support level is placed at 10,512.7, followed by 10,426.2. If the index starts moving upwards, key resistance levels to watch out are 10,720.2 and 10,841.2.

The Nifty Bank index closed at 24,819.30, down 250.60 points on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 24,582.46, followed by 24,345.63. On the upside, key resistance levels are placed at 24,974.76, followed by 25,130.23.

In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:

Sell Repco Home Finance with a stop loss of Rs 406, target of Rs 390

Sell Wockhardt with a stop loss of Rs 525, target of Rs 510

Sell Bata India with a stop loss of Rs 872, target of Rs 850

Buy ICICI Bank with a stop loss of Rs 312, target of Rs 326

Buy Avenue Supermarts with a stop loss of Rs 1330, target of Rs 1400

Sudarshan Sukhani of s2analytics.com

Buy ACC with stop loss at Rs 1505 and target of Rs 1580

Buy HCL Technologies with stop loss at Rs 1070 and target of Rs 1100

Sell Capital First with stop loss at Rs 496 and target of Rs 470

Sell Exide Industries with stop loss at Rs 255 and target of Rs 240

Sell Kajaria Ceramics with stop loss at Rs 360 and target of Rs 338

Mitessh Thakkar of mitesshthakkar.com

Buy Bata India around Rs 865- 862 with stop loss of Rs 849 and target of Rs 890

Sell Godrej Consumer Products with a stop loss of Rs 733 and target of Rs 695

Sell PAGE Industries with a stop loss of Rs 31400 and target of Rs 29000

Sell Strides Pharma Science with a stop loss of Rs 431 and target of Rs 410

Capital Ways Investment Adviser
101-202 SURYODAY BUILDING 
2/1 DR RS BHANḌARI MARG , INDORE (MP) 452001
info@capitalways.com
Contact Us:08517810864

Top buy & sell ideas by Ashwani Gujral, Sudarshan Sukhani, Mitessh Thakkar for short term

Sudarshan Sukhani of s2analytics.com suggests buying Divis Labs with stop loss at Rs 1290 and target of Rs 1350 and JSW Steel with stop loss at Rs 375 and target of Rs 392.

The market fell sharply on Wednesday as traders turned cautious ahead of Monetary Policy Committee's rate decision due on Friday after rupee hitting record lows and crude touching multi-ear highs.

The Nifty50 after gap down opening extended losses as the day progressed and broke the 10,900 levels in last hour of trade. The index closed 150 points lower at 10,858.30 and formed strong bearish candle on the daily charts. If it doesn't stabilise around its 200-day EMA of 10,785 levels then more selling pressure is likely, experts said.

India VIX moved up by 8.16 percent at 18.21 levels. Volatility is not cooling down which is not giving the relief and suggests a tight bear grip in the market.

According to Pivot charts, the key support level is placed at 10,805, followed by 10,751.8. If the index starts moving upwards, key resistance levels to watch out are 10,950.2 and 11,042.2.

The Nifty Bank index closed at 25,069.90, down 297.10 points on Wednesday. The important Pivot level, which will act as crucial support for the index, is placed at 24,907.43, followed by 24,744.97. On the upside, key resistance levels are placed at 25,351.23, followed by 25,632.56.

In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:

Sell United Spirits with a stop loss of Rs 507, target of Rs 490

Sell Century Textiles & Industries with a stop loss of Rs 811, target of Rs 785

Sell Arvind with a stop loss of Rs 321, target of Rs 305

Sell Jubilant Foodworks with stop loss of Rs 1205, target of Rs 1165

Buy Hindalco Industries with a stop loss of Rs 249, target of Rs 263

Sudarshan Sukhani of s2analytics.com

Buy Divis Labs with stop loss at Rs 1290 and target of Rs 1350

Buy JSW Steel with stop loss at Rs 375 and target of Rs 392

Sell Century Textiles with stop loss at Rs 825 and target of Rs 775

Sell ICICI Prudential Life Insurance with stop loss at Rs 337 and target of Rs 317

Sell L&T Finance Holdings with stop loss at Rs 130 and target of Rs 123

Mitessh Thakkar of mitesshthakkar.com

Sell ACC with a stop loss of Rs 1526 and target of Rs 1475

Sell Reliance Industries with a stop loss of Rs 1212.5 and target of Rs 1189

Sell Ambuja Cements with a stop loss of Rs 218.5 and target of Rs 203

Sell Century Textiles with a stop loss of Rs 820 and target of Rs 775

Capital Ways Investment Adviser
101-202 SURYODAY BUILDING 
2/1 DR RS BHANḌARI MARG , INDORE (MP) 452001
info@capitalways.com
Contact Us: 08517810864

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Top buy & sell ideas by Ashwani Gujral, Mitessh Thakkar, Prakash Gaba for short term

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