5 Stocks for next week (3rd Oct- 6th Oct)

Bajaj Auto

Recommendation

The stock is on the verge of giving a flag pattern breakout on the daily chart. It has also managed to give a closing at its all time high on the weekly chart. The positive strength on weekly MACD Histogram further affirms our bullish view on the stock.

Buy/Sell

Range

Target

Stop Loss

Buy (Cash)

3100-3110

3260

2995

NSE Code

Market Cap(Rs in Cr)

52-week High /low

200 M.A

BAJAJ-AUTO

90035

3181/2510

2833

Ashok Leyland

Recommendation

The stock is in a higher top higher bottom chart structure. It has managed to give a breakout on the daily chart backed by a surge in volumes.  It has also formed a bullish engulfing chart pattern on the weekly chart.

Buy/Sell

Range

Target

Stop Loss

Buy (Cash )

121-123.2

134

116

NSE Code

Market Cap(Rs in Cr)

52-week High /low

200 M.A

ASHOKLEY

36113

123/73

98

Canara Bank

Recommendation

The stock has given a breakdown from its support levels on the weekly chart. The stock is also in a lower top lower bottom chart structure. We expect the weakness in the stock to continue in the following week. 

Buy/Sell

Range

Target

Stop Loss

Sell (Oct Futures )

310-312

290

326

NSE Code

Market Cap(Rs in Cr)

52-week High /low

200 M.A

 CANBK

18399

414/236

323

Punjab National Bank

Recommendation

The stock is currently trading below its 200-day EMA and has also shown weakness on the weekly chart. The negative crossover on MACD indicator further accentuates our bearish view on the stock.

Buy/Sell

Range

Target

Stop Loss

Sell (Oct Futures )

130-132

118

138

NSE Code

Market Cap(Rs in Cr)

52-week High /low

200 M.A

PNB

27461

185/112

143

HUL

Recommendation

The stock has shown weakness on the daily and weekly MACD Histogram. The stock also formed a shooting star formation the weekly chart. We expect the negative trend in the stock to continue in the following week.

Buy/Sell

Range

Target

Stop Loss

Sell (Oct Futures )

1175-1184

1120

1218

NSE Code

Market Cap(Rs in Cr)

52-week High /low

200 M.A

HINDUNILVR

254357

1286-782

1055