Nifty likely to find support at 9570; 5 stocks which can give up to 5% this week
The immediate support zone for the coming session is placed at 9,565-9,570 and if the index sustains below these level for long would activate bears in the market.
Top five stocks which can give up to 5 percent return in this week:
UPL: BUY| Target Rs875| Stop Loss Rs815| Return 3.5%
The stock rose for the third consecutive session on Monday and witnessed a very strong closing above its immediate resistance above Rs842.
HDFC: BUY| Target Rs1,655| Stop Loss Rs1,560| Return 3%
The stock has attracted buying momentum during Monday’s session and closed at Rs1,598 with high volumes which is above its immediate resistance of Rs1,592.
BPCL: BUY| Target Rs788| Stop Loss Rs741| Return 4%
The stock is headed northwards for the fifth consecutive session where buying was very well supported by rising volumes along with 20-DMA and fresh MACD crossover.
Tata Communications: BUY| Target Rs 740| Stop Loss Rs688| Return 4.9%
The counter witnessed heavy buying volumes in Monday’s session as it crossed above its 20- DMA during the intraday trades and touched 50-DMA during the same session.
Power Grid: BUY| Target Rs 221| Stop Loss Rs203| Return 5.7%
The stock has now started moving on the higher side since the last two sessions, suggesting some more positive momentum to come in the next session as the counter has crossed above 20 DMA during intraday and even marked its closing above those levels.