Amidst the overall turbulent stock market trading, traders are cautious. Considering the risk, analysts are currently advising to focus more on stocks. However, they also suggest opportunities for traders to make quick money in the short term with some stocks.
Kotak Mahindra Bank
Purchase target: Rs 2144
Possibility: 12%
Shares of Kotak Mahindra have been under pressure for some time. But this time, it has withdrawn from its core support. The stock has risen to Rs 2,250 from the previous level. On the weekly chart, a bullish MACD bullish cross is formed near the zero line. It seems profitable. Thus, long-term traders are advised with a stop loss of Rs 1725.
ICICI Bank
Purchase target: Rs 781
Possibility: 7%
ICICI Bank shares have been in decline for some time. But this time it is trading close to its core support. The stock is recovering from a slump to Rs 780. In its daily chart, it is re-examining the potential reversal zone of the previous Bullish Alternate BAT pattern which is profitable. Thus, traders are advised to hold shares for a long time with a stop loss of Rs 675.
Max Financial Services
Purchase target: Rs 920
Possibility: 20%
Max Financial has been under pressure for some time. But this time, it is trading close to its core support. Earlier, the stock had risen to Rs 1,000 from this level. On the daily chart, there is an elegant BAT pattern that is profitable with the daily RSI overcoming previous resistance. Thus, traders are advised to hold shares for a long period with a stop loss of Rs 645.
Ambuja Cements
Purchase target: Rs 390
Possibility: 7%
This stock surpassed the resistance zone of the major moving averages (100 & 200 EMA) in the daily chart. It is currently at the right level and trades in the tight range while firmly above the moving average support zone. The chart pattern indicates a strong directional movement quickly. It is advisable to buy with a target price of Rs 390 in the specified range and keep with a stop loss of Rs 348 per month.
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