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Here Are The List Of Top Five Stocks To Bet On This Week

On Monday, the domestic equity market started a positive note reclaiming the crucial 9,900 level with Nifty. On Thursday, the benchmark indices ended flat with &P BSE Sensex settling 28 points higher at 31,596 while Nifty50 index of NSE ended flat at 9,857, just 4.55 points higher. Now we have to wait and watch if the market tread will become higher and regain the momentum.

For now let’s have a look at the top stocks that are likely to see uptrend this week:-

1)    Bharat Electronics | BUY| Target Price: Rs 202


With stock around 185 zones, Bharat Electronics has marked a Double Top formation and has attempted to break above that. Multiple signals have emerged which point towards upward revision in prices over coming days.

Bharat Electronics – Chart


The daily MACD stays in buy mode where RSI has broken out of a pattern while marking higher bottom which is bullish. OBV has remained sideways while the stock corrected and this too is a bullish sign.

2)    Godrej Industries | BUY | Target Price: Rs 640


The stock has a sharp corrective decline after marking highs around 700 and dropped well below 100-DMA. But the chart shows the stock has pulled back and ended above its 100-DMA. The Signals point towards return of momentum in this stock with RSI at higher bottom and has moved up.

Godrej Industries – Chart


Daily MACD is sharply moving towards a positive crossover. On the weekly charts, a buy signal over Stochastic has appeared with bullish divergence against the price.

3)    GIC Housing Finance | BUY | Rs 540


The stock marked around 620-625 zones but failed to comprehensively clear the Double Top formation. Since then, it has remained in a corrective decline forming a falling channel. It is likely that the stock breaks out of this falling channel and resumes its up move.

GIC Housing Finance – Chart


On the weekly charts, a buy signal has emerged over Stochastic with a bullish divergence against the price. The upward revision in prices cannot be ruled out.

4)    Axis Bank | BUY | Target Price: Rs 540


The stock has been trading in a sin-month long rectangle which remains a defined trading range for the stock. Daily MACD has reported a positive crossover and it is now bullish trading above its signal line.

   Axis Bank – Chart


On the weekly charts, a buy signal has emerged on the Stochastic. This comes with a bullish divergence against the price. Bollinger Bands, which are 65-% narrower-than normal further increase the possibility of a sharp move in prices over coming days.

5)    CESC | BUY | Target Price: Rs 990


The stock suffered a 100% throwback after it attempted to break out of a rectangle formation. Currently it remains in a congestion zone and during this congestion; the OBV has already formed a fresh high which is highly bullish.

CESC – Chart


MACD is sharply moving towards reporting a positive crossover. RSI has shown a bullish divergence against the price. The upward revision in prices likely over coming days.


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