5 Stocks for Next Week (July 31-August 4)
Repco Home Finance Aug Fut Sell Rs 761-766; Target Rs 718; Stop Loss Rs 804
Repco Homes is trading in a lower top lower bottom chart structure. The stock has given a channel breakdown on the daily chart. We expect the downtrend to continue and recommend a sell in the stock with a target price of Rs 718.
CESC Buy Rs 926-931; Target Rs 984; Stop Loss Rs 887.
CESC has given a flag pattern on the daily chart the breakout has been backed by a surge in volumes. We expect the uptrend to continue and recommend a buy in the stock with a target of Rs 984.
Reliance Capital Buy Rs 712-719; Target Rs 777; Stop Loss Rs 667
Reliance Capital has given a breakout from its sideways consolidation on the daily charts backed by a surge in volumes. The stock has also formed a bullish engulfing chart pattern on the weekly chart. The stock is currently trading at its 52 week high. We recommend a buy with a target of Rs 777.
Kotak Mahindra Bank Buy Rs 1008-1013; Target Rs 1051; Stop Loss Rs 981
Kotak Mahindra Bank is trading in a higher top higher bottom chart structure. The stock has shown good strength on the daily MACD Histogram. Kotak is currently trading at its 52 week high. We recommend a buy with a target price of Rs 1051.
5) Hero Moto Corp Aug Fut Sell Rs 3642-3656; Target 3515; Stop Loss Rs 3767
Hero Moto Corp has given a channel breakdown on the daily chart. The stock is currently trading below its short-term exponential moving average. We recommend a sell in the stock with a target of Rs 3515.
*All prices have been taken based on Friday, 28th July’s closing price.
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