Chart reading: 15 stocks that should make money in September

Stewart & Mackertich Wealth Management said the Nifty50 is likely to continue its bullish momentum and soon unfold the next leg of upward move towards 10,080 and 10,120. NSEBSEZee EntertainmentLoading data…

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      ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESMOILLoading data…

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        ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESHindustan ZincLoading data…

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                ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESFirstsource Solution…Loading data…

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                          ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESHindustan ZincGODFREY PHILIPSGIC Housing FinanceGAILFirstsource SolutionsExide IndustriesBharat GearsAurobindo PharmaAsian PaintsEXPAND TO VIEW ALL The bulls continued their aggressive posturing all through last week, which helped lift NSE’s Nifty index over 1 per cent to 9,974 as of Friday from 9,957 on August 24. Market experts sound positive on the forthcoming sessions and expect the Nifty50 to reclaim the 10,000 mark in next few sessions.

                          Stewart & Mackertich Wealth Management said the Nifty50 is likely to continue its bullish momentum and soon unfold the next leg of upward move towards 10,080 and 10,120. “Needless to say, the 9,930-9,910 zone will now be pivotal support for the index,” the brokerage said.

                          Based on various brokerage recommendations, here are 15 stock ideas that can potentially deliver solid gains in September.

                          Jay Anand Thakkar ,CMT, Assistant Vice President-Equity Research, Anand Rathi

                          Godfrey Philips | Buy | Target price: Rs 1,290 | Stop loss: Rs 970
                          Godfrey Philips seems to have completed the Wave E of the triangular pattern and now an impulse move is expected on the upside. The momentum indicators, which are in sell mode, are likely to reverse with this expected bounce.

                          Asian Paints | Buy | Target price: Rs 1,275 | Stop loss: Rs 1,160
                          Asian Paints seems to have started a fresh leg on the upward move with a breakout from the sideways channel. Momentum indicators have reversed from sell to buy on the daily as well as weekly charts. Volumes have expanded with an upward breakout, which is an additional confirmation. Based on the above-mentioned rationale, the stock looks positive for the bulls in the short term.

                          Aurobindo Pharma | Buy | Target price: Rs 820 | Stop loss: Rs 722
                          This stock has seen a breakout from the downward sloping channel with a clear buy crossover in momentum indicators. The stock has been forming higher tops and higher bottoms, which is a positive signal for the bulls. Volumes are expanding along with the upward move. “Moreover, the stock is trading above its short-term moving averages. Hence, we have a buy recommendation on the stock for the short term,” said Thakkar.

                          Milan Vaishnav, CMT, Technical Analyst, Gemstone Equity Research and Advisory

                          Bharat Gears | Buy | Target price: Rs 165 | Stop loss: Rs 130
                          This stock has taken multiple support at its 100-DMA and have shown signs of pullback. The daily MACD is moving towards positive crossover. On the weekly chart, a buy signal has emerged over the Stochastic with a bullish divergence. An uptick in prices is likely over coming days.

                          GIC Housing Finance | Buy | Target price: Rs 575 | Stop loss: Rs 515
                          This stock broke out on the upside from a falling channel and has been consolidating near its 50-DMA and 100-DMA. There is a continuing buy signal over weekly Stochastic. While the daily MACD remains in continuing buy mode, the RSI shows a bullish divergence against the price.

                          Manganese Ore India Limited (MOIL) | Buy | Target price: Rs 395 | Stop loss: Rs 358
                          After a healthy consolidation, the stock has broken out of an upward rising channel, while the OBV has already marked a fresh high. The RSI is bullish as it marks a fresh 14-period high. The daily MACD remains in continuing buy mode. The OBV, or on-balance-volume, is a momentum indicator that uses volume flow to predict changes in stock price.

                          Subash Gangadharan, Senior Technical Analyst, HDFC Securities

                          Just Dial | Buy | Target price: Rs 460 | Stop loss: Rs 370
                          Just Dial is one of the strongest stocks in the market currently. After making a double bottom around the Rs 327 mark recently, this week the stock has broken out of a narrow range and also took out its previous intermediate high of Rs 402 in the process. This week’s breakout was accompanied with above average volumes, which indicates significant accumulation has happened in this counter. The stock trades above the 13-day and 50-day SMA. Weekly momentum readings are in rising mode and not overbought.

                          Firstsource Solutions | Buy | Target price: Rs 47 | Stop loss: Rs 34
                          Shares of Firstsource Solutions have rallied from a low of Rs 30, which also corresponds to a previous intermediate low seen few months back. This week, the stock broke out of the Rs 32-38 trading range on the back of above average volumes. The stock has also cleared its previous intermediate highs in the process. Technical indicators like the 13-day SMA and the 14-day RSI are giving encouraging signals.

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

                          ICICI Prudential Life Insurance | Buy | Target price: Rs 469 | Stop loss: Rs 422
                          A good price appreciation was witnessed on this counter immediately after its stock market debut. However, the counter slipped into a consolidation mode after posting a new high of Rs 505.79 in July. The stock spent some time around the Rs 420-425 levels, as the key short-term moving average (89) provided a rock solid support in the recent correction. “On Friday, we witnessed a good positive traction along with tremendous buying interest in the stock. Considering the ‘U-turn’ in daily ‘RSI-Smoothened’, we expect the stock prices to resume its higher degree uptrend,” said Chavan.

                          GAIL | Buy | Target price: Rs 410 | Stop loss: Rs 377
                          This stock has been a laggard since last four months within the ‘oil & gas’ space. “Recently, we witnessed several attempts to move out of the congestion zone; but, every attempt got sold into. During the previous session, we could see yet another effort to do so; but this time it is backed by decent volumes and hence, we are expecting the stock to surpass this hurdle soon. In addition, the placement of momentum oscillators on daily time frame is encouraging, providing credence to this move. We recommend buying this stock at current levels for a target of Rs 410 over the next 14-21 sessions. The stop loss should be fixed at Rs 377,” Chavan said.

                          Hindustan Zinc | Buy | Target price: Rs 324 | Stop loss: Rs 297
                          Metal stocks have been the flavour of this week and in fact, they have been on a roll since last many months; courtesy to positive developments in metal space on the global front. This stock has now started to show its presence as we saw a decent up move to close at record highs. On Friday, the stock managed to surpass the psychological barrier of Rs 300 which has been acting as a sturdy wall since last few months. “Looking at the volume activity, we expect the stock to continue enjoying its bull run,” he said.

                          Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in

                          Exide Industries | Buy | Target price: Rs 219 | Stop loss: Rs 194
                          Since May 2017, this counter has witnessed a price erosion of around 20 per cent from the highs of Rs 250 and appears to have stabilised around Rs 195 after hitting the demand line of a 4 month old descending channel. “Hence, we expect this counter to initially target Rs 219 levels. Traders can put a stop of Rs 194 and initiate long positions,” he said.

                          UltraTech Cement | Buy | Target price: Rs 4,220 | Stop loss: Rs 3,890
                          It is looking like a decent consolidation for this counter in the Rs 3,900-4,000 zone for the last three weeks. “As it is repeatedly witnessing buying support around the Rs 3,900 level, we expect a breakout sooner than later in this counter and hence positional traders should go long into for a target of Rs 4,220 with a stop of Rs 3,890,” he said.

                          Vikas Jain, Senior Research Analyst, Reliance Securities

                          Repco Home Finance | Buy | Target price: Rs 694-720 | Stop loss: Rs 610
                          This stock is making higher bottoms on the weekly chart after witnessing a sharp correction from the life-time-high of Rs 924. “As per the current setup, this stock will manage to utilise recent consolidation and will recover prior damages,” Jain said.

                          Zee Entertainment | Buy | Target price: Rs 560 | Stop loss: Rs 501
                          The stock reversed after taking support of its long-term moving average and rose to two-week high on back of positive momentum in that sector. A rise in RSI post positive cross-over is signalling that the stock is staged for a bounce and should achieve the all-time high level, said Jain.

                          (Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)

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