SMALL CAPS THAT WILL WORK IN SHORT TERM
The benchmarks pared some of the intraday gains on Friday on the back of subdued cues from global peers ahead of the US jobs data. The market is likely to remain range-bound and take cues from monsoon and rupee movement in the near term, say analysts.
At 02:00 pm, the S&P BSE Sensex was at 19,576.33, up 56.84 points or 0.29 per cent. It touched a high of 19,711.55 and a low of 19,424.97 in trade today. The S&P BSEMidcap Index was up 0.03 per cent and the S&P BSE Smallcap Index was 0.36 per cent higher.
Following are the technical recommendations given to ET Now on small caps which can give handsome returns in the short term:
1) Renaissance Jewellery can be bought near 65.25 with a stop loss of Rs 59 for a target of Rs 78. The stock is continuing its uptrend and opened with gap-up today. It is breaking its range.
2) Buy Surya Roshni near Rs 76.25 with a stop loss of Rs 69 for a target of Rs 92. The stock has corrected to its good support which is at Rs 75 and has bounced back today.
3) Bank of Maharashtra can be added at Rs 55.15 with a stop loss of Rs 50 for a target of Rs 66. It recently corrected to its 200-DMA and is bouncing back on huge volume.
4) Buy Amtek Auto near Rs 87.7 with a stop loss of Rs 79 for a target of Rs 105. The stock is continuing its uptrend and is coming out of its range.
5) Buy Dolphin Offshore around Rs 104.5 with a stop loss of Rs 94 for a target of Rs 125. The stock is coming out of its 200-DMA with price and volume.
6) Buy JM Financial near Rs 28 with a stop loss of Rs 25 for a target of Rs 34. The stock is continuing its uptrend and coming out of its range.
7) Buy Aarti Industries near Rs 90 with a stoploss of Rs 81 for a target of Rs 108. The stock recently corrected to its 200 DMA and is bouncing back.
8) Buy Escorts India around Rs 70.45 with a stop loss of 63 for a target of Rs 85. It is continuing its uptrend and after a mild correction it is bouncing back.
Disclaimer: The above report is based on technical views and information given by analysts. Please consult your financial advisor before taking any position in the stocksmentioned.
