Short-term trading ideas that can provide 4-20% return
Sun TV Network: Buy | LTP: Rs 484| Target: Rs 532 | Stop Loss: Rs 462 | Upside 10 percent
On the daily time frame, the stock has corrected after a recent rally and has taken support near its 20-day simple moving average.
The prices are trading above all major short-term and medium-term moving averages and positive crossover can be seen in momentum indicators.
Traders can initiate buying at the current market price (CMP) and on any dip till Rs 475 for the short term gain.
Lakshmi Machine Works: Buy| LTP: Rs 3,687.3| Target: Rs 4,130| Stop Loss: Rs 3,430 | Upside 12 percent
The short-term moving averages ribbon on the weekly time frame has developed a positive curve and prices are also trading above all medium-term moving averages.
Traders can initiate buying at CMP and pyramid their positions by adding more of the Rs 3,850 level trades on the higher side.
Glenmark Pharma: Buy | LTP: Rs 508.9 | Target: Rs 560 | Stop Loss: Rs 482 | Upside 10 percent
The recent consolidation in the counter near its 50-day exponential moving average seems to be coming to an end and a fresh up move can be expected in the near term as the short term moving averages ribbon has started trading with a positive curve. Traders can initiate buying positions with a short term perspective.
DLF Limited: Buy| LTP: Rs 161| Target: Rs 186.50| Stop loss: Rs 153| Upside: 15%
The stock has witnessed a reversal from its support level placed in the zone of further strength that might be gained if it sustains above 166.50.
The crossover of its short and medium-term averages on daily charts with strong volumes showing signs of further upside.
BBTC Limited: Buy| LTP: Rs 1393| Trigger: Rs 1430| Target: Rs 1575| Stop loss: Rs 1370| Upside: 13%
The stock has formed a reversal pattern, if stock somehow sustains above 1430 might lead to positive momentum. The stock has seen a significant addition of volumes in recent days. Risk and reward is favorable at this juncture of time.
ICICI Bank: Buy| Trigger Price: Rs 375| LTP: Rs 369| Target: Rs 392| Stop loss: Rs 360| Upside 4.5%
The stock is bouncing from its support on daily charts and breakout might result for further strength which might lead the stock to break its weekly highs.
Bank of Baroda: Buy around: Rs 45|LTP: Rs 45| Target: Rs 54| Stop Loss: Rs 40| Upside 20%
The short-term correction seems to be over in the stock and bulls are likely to take the charge again. The higher high and higher low formations on the weekly timeframe suggests that bulls have entered the counter at lower levels.
Traders can initiate long positions around 45 with a stop loss of Rs 40, and the target of Rs 54.
State Bank of India: Buy around Rs 190| LTP: Rs 192| Target: Rs 215| Stop Loss: Rs 178| Upside 12%
Bargain hunting is seen at lower levels in the scrip from where it formed a strong base near 185-190 zones. Currently, the stock has given a consolidation range breakout on the daily chart in which it has been trading from the last few days.
A trader can take an entry from the level of 190 for the target of 215, and keep a stop loss of 178.
Divi’s Laboratories: Buy| LTP: Rs 3347| Stop Loss: Rs 3190| Target: Rs 3540-3715| Upside 11%
The stock has broken out on the upside after a short-term consolidation. Structurally, it has resumed the larger uptrend.
The daily Bollinger Bands have started expansion after a significant contraction, which suggests that a sharp move is in the offing.
Dabur India: Buy| LTP: Rs 507| Stop Loss: Rs 487| Target: Rs 528-545| Upside 7.5%
After hitting a low of Rs 421 in May, Dabur has been moving up in a rising channel. A short term correction in August found support near the lower channel line as well as near the key weekly moving averages.
From there the stock started rallying again. The daily as well as the weekly momentum indicators are showing bullish signs suggesting further upside.