Top 5 Stocks To Buy For In November Expiry Week That Could Give Up To 14% Return

The coming  week being the expiry one, first half could be very vital for our market as we count on a few volatility to pick up and subsequently, we may additionally see some clear moves thereafter, says Sameet Chavan, Chief Analyst- Technical Derivatives, Angel Broking.

The Nifty50  rose by about 1 percentage after consolidating in a slim range for the at the least 4 trading session before recording a breakout on Friday.

The index is probable to remain unstable beforehand of November month’s expiry due on Thursday. High call Open interest (OI) is located at strike price 10,500 and highest put OI is positioned at strike 10,300. The expiry is probably to happen in this 200 point range.

What concern technical analysts that on Friday Nifty did not witness follow up buying that's preferably the case every time index breakout. therefore, investors need to be higher off betting on individual stocks.

“We have been bringing up the trading range of 10250 – 10368 for the index. After four days of warfare, the Nifty subsequently controlled to interrupt the higher variety. But, the kind of shopping for momentum ideally need to had been witnessed after a breakout became really missing. Hence, we want to relook the scenario and could ought to revise the upper variety a bit,” Sameet Chavan, chief Analyst- Technical Derivatives, Angel dealer Pvt Ltd.

“The bullish momentum may be witnessed handiest above this cited resistance of 10405. on the flipside, 10350 – 10307 could now be seen as a key support quarter; due to the fact, violation of this will practice brakes on the current optimism,” he said.

Chavan further delivered that the coming week being the expiry one, first half would be very important for our marketplace as we anticipate a few volatility to select up and subsequently, we may additionally see some clear movements thereafter.

Here is a listing of top 5 stocks which traders can give up to 14% return in the short term:

Dish TV: BUY| Target Rs90| Stop Loss Rs75| Return 10%

A strong corrective pass began during the early part of April and on account that then the stock has gone through a big rate-sensible in addition to time-sensible corrective segment.

Inside the final couple of days, the stock costs controlled to give a smart recovery after consolidating around the Rs75 mark for nearly 3 weeks.

In this course of action, we are able to now see a breakout from the bullish ‘Cap and manage’ sample on the daily chart along with full-size volumes. As a result, we endorse shopping for this stock on a minor decline for a goal of Rs.90. The stop loss now have to be fixed at Rs 75.

Brigade Enterprises: BUY| Target Rs330| Stop Loss Rs288| Return 11%

This south based totally midcap ‘Realty’ counter has been one of the consistent performers since the early a part of 2014. The recent multi-month consolidation got here to an give up closing week after the stock prices broke out from the hurdle of Rs294 on a closing basis.

This price development was observed by way of reasonably higher  volumes; supplying credence to the breakout. hence, the remaining couple of day’s breather may be construed as an good buying opportunity.

Traders can buy this stock for a goal of Rs.330 by way of following a strict stop loss of Rs.288.

Hero MotoCorp: SELL| Target Rs3480| Stop Loss Rs3731| Time 5-10 sessions| Return 5%

A robust Bull run in this stock took a pause for the duration of the early a part of September. Since then, the stock has been experiencing a corrective segment in a gradual way.

Recently, we witnessed a breakdown from critical ‘Neckline’ around Rs3700. within the ultimate couple of weeks, the stock  prices resisted around it and are dealing with robust selling pressure at intraday highs.

Thus, we assume a few weak point to continue on this counter. possible promote this stock for a goal of Rs.3480 over the next 5 – 10 periods. The stop loss ought to be constant at Rs.3731.

Brokerage Firm: SMC Capital

DCB Bank: BUY| Target Rs210| Stop loss Rs175| Time 1-2 months| Return 13%

The stock closed at Rs186.85 on 24 November 2017. It made a 52-week low at Rs102.55 on 23rd December 2016 and a 52-week high of Rs 213 on the 16 June 2017.

The 200-days Exponential moving average (EMA) of the stock on the daily chart is presently at Rs167.85. The stock is forming a “Symmetrical Triangle” pattern at the weekly chart, that's considered to be bullish.

It is a continuation pattern, which indicates the vintage fashion is undamaged and new pass goes to begin. Furthermore, the stock is closed on verge of breakout of pattern with excessive quantity so shopping for can persist for the stock.

Therefore, traders can buy the stock inside the range of 183-185 levels for the upside target of 205-210 levels with a stop  loss below 175.

Tamilnadu Petroproducts: BUY| Target Rs88| Stop Loss Rs69| Time 1-2 months| Return 14%

The stock closed at Rs77.65 on 24th November 2017. It made a 52-week low at Rs 22.15 on 27th December 2016 and a 52-week high of Rs79.85 on 24th October 2017.

The 200-days Exponential Moving  Average (EMA) of the stock on the daily chart is currently at Rs53.89. The stock is continuously trading at better highs and higher lows at the weekly chart, that's bullish in nature.

Currently, the stock witnessed a massive up move from Rs 55 to Rs 75 degrees and consolidated in a narrow range for three months with a positive bias.

Remaining week, the stock had given the breakout of “Bull Flag” sample and additionally managed to shut above the identical with rising extent. So, buying momentum is predicted to keep for the stock. Therefore, traders can purchase inside the variety of Rs76-77 levels for the upside target of Rs86-88 levels with a stop loss below Rs69.

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