SBI, Ceat among 4 stocks brokerages are betting on for handsome gains — Here's why
SMC Global Securities has a buy on Ajanta Pharma and Can Fin Homes while Choice Broking has buy on State Bank of India. ×
The Nifty gained strength in the last hour of trade and closed on a strong note on September 13, driven by hopes of a further stimulus by the government. The European Central Bank (ECB) stimulus and easing of US-China trade tensions also lifted sentiment. The index recouped its previous day's losses to close above 11,050 and formed a bullish candle on daily, as well as the weekly charts, indicating strength in the market. If the index gains further and gives strong breakout above the next resistance set at 11,141 levels, it can rally towards the crucial 11,300 levels, experts feel. related news
Ajanta Pharma : Buy | CMP: Rs 1045.25 | Target: Rs 1181 | Upside: 13 percent
Ajanta Pharma is a specialty pharma formulation company. It has branded generic business in India and emerging markets, generic business in US and institution business in Africa. Many of the company's products are first to market and are leading in their sub therapeutic segments - ophthalmology, dermatology and cardiology. In US during Q1FY20, the company received 3 ANDA final approval and filed 3 ANDA with USFDA. Out of 30 final approvals, the company has commercialised 28 products. 25 ANDAs are awaiting USFDA approval. The company plans to file 10 to 12 ANDAs during this financial year. Dahej plant capacity utilisation stands at 30 percent and Guwahati Phase I (oral solids) stands at 65-70 percent. Furthermore, the company has given a capex guidance of Rs 350 crore for FY20. Pithampur plant, which has been earmarked for emerging markets, will begin commercialisation from Q4FY20. The competitive edge Ajanta Pharma has built over the years, in terms of customised products for every market where it operates, continues to provide it the impetus for growth. The company continues to strengthen product portfolio through new launches, many of them being first-to-market products, offering significant patient benefits. Thus it is expected that the stock will see a price target of Rs 1,181 in eight-10 months on the PEx of 25.06 times and FY20E EPS of 47.11. Can Fin Homes : Buy | CMP: Rs 392.40 | Target: Rs 476 | Upside: 21 percent
Can Fin Homes is a housing finance company that offers housing loan to individuals and builders/developers, and loan against property. The management of the company expects to raise loan book to Rs 23,000 crore by the end of March 2020 from Rs 19,003 crore achieved at the end of June 2019. In terms of rate of interest, the company is well positioned between other housing finance companies (HFCs) and the bank. According to the management of the company, to gain more strength towards the market share, the company is focusing on the affordable home loan segment. Moreover, it has a track record of delivering robust financial performance. Going forward the company is likely to maintain the same on the back of healthy loan growth expectation and expansion in NIM. Thus, it is expected that the stock will see a price target of Rs 476 in eight-10 months on an expected P/Bv of 2.93x and FY20 BVPS of Rs 162.51. Choice Broking
State Bank of India : Buy | Target: Rs 335 | Stop loss: Rs 271 | Upside: 17 percent
On a weekly chart, the stock is taking a strong support of around Rs 262.50 level which is 78.60 percentrRetracement level of its previous up move from Rs 232.50 level to Rs 373.60 level. This suggests bounce back movement in the counter. Moreover, the stock has recently taken support of its lower band of “Broadening Rising Wedge Formation” in which the stock has been trading since many weeks, shows a northward movement in the counter. On a daily chart, after giving healthy correction from its all time high, the stock took support at its previous bottom at 262.70 level which signifies that the stock might go up in coming trading sessions. Furthermore, the stock has been continuously trading with its strong support of 21 Days Simple Moving Averages which shows a positive trend in the stock. A momentum indicator RSI and MACD both have shown positive crossover on the daily chart which add more bullishness to the price. Based on the above technical structure, we are expecting an upside movement in the State Bank of India in a few trading sessions. Ceat : Buy | Target: Rs 1030 | Stop loss: Rs 880 | Upside: Rs 11%
On a daily chart, the stock has been trading with a positive crossover of 21*50 Days Moving Average which shows a positive rhythm in the counter. Moreover, the stock has given a breakout of its Upper Band of Falling Wedge formation with above-average volume which indicates a robust upside movement in the counter. On a weekly chart, after a healthy correction, the stock has formed a Bullish Engulfing Candlestick which is a bullish reversal formation and suggests a northward movement in the counter. On a monthly chart, the stock has taken the support of its 100 Months Moving Average which shows a bounce back movement in the counter. A daily momentum indicator RSI reading is at 64.10 level with a positive crossover which points out for a positive breath in the counter. Based on the above technical structure, we are expecting a good upside movement in the counter in a few trading sessions. Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as

SBI, Ceat among 4 stocks brokerages are betting on for handsome gains — Here#39;s why

Accumulate Tata Motors - DVR, target Rs 106: Shitij Gandhi
Traders can accumulate the stock in a range of Rs 97-99 for the upside target of Rs 106 levels and a stop loss below Rs 91, says Shitij Gandhi of SMC Global Securities. Shitij Gandhi
Tata Motors - DVR has been consolidating near its lower levels within a broader range of Rs 90-98 for more than four weeks. However, from technical front, the stock has formed an inverted head and shoulder pattern on daily charts and is on verge of a fresh breakout above the pattern. Additionally, prices are also maintaining well above its short term moving averages which will support the up move in prices going forward. Traders can accumulate the stock in a range of Rs 97-99 for the upside target of Rs 106 levels and a stop loss below Rs 91. (The author is a Senior Research Analyst, SMC Global Securities Ltd.)
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. First Published on Jan 16, 2019 11:54 am

Accumulate Tata Motors - DVR, target Rs 106: Shitij Gandhi

Buy Bharti Airtel, target Rs 366: Shitij Gandhi
Traders can accumulate the stock in a range of Rs 332-338 for the upside target of Rs 366 levels and a stop loss below Rs 310, says Shitij Gandhi of SMC Global Securities. Shitij Gandhi
Bharti Airtel made a double bottom pattern around Rs 280 levels on the daily charts and took a V-shaped recovery towards Rs 320 levels. On the daily interval, the stock has formed an inverted head and shoulder pattern and has also managed to give breakout above the neckline of the pattern this week along with positive divergence on secondary indicators. Traders can accumulate the stock in a range of Rs 332-338 for the upside target of Rs 366 levels and a stop loss below Rs 310. (The author is a Senior Research Analyst, SMC Global Securities Ltd.)
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. First Published on Jan 16, 2019 11:53 am

Buy Bharti Airtel, target Rs 366: Shitij Gandhi

Buy ITC, target Rs 313: Shitij Gandhi
Traders can accumulate the stock in a range of Rs 292-297 for the upside target of Rs 313 levels and a stop loss below Rs 280, says Shitij Gandhi of SMC Global Securities. Shitij Gandhi
On the daily charts, ITC has been hovering around its 200-days exponential moving average (DEMA) for more than two months in a broader range of Rs 270-290 supported with consistent buying at lower levels. The consolidation in prices has formed a Symmetrical Triangle pattern on the daily charts and last week also witnessed a fresh breakout above the triangle pattern with marginally higher volumes. The breakout suggests that follow up buying can move stock toward the north in coming sessions as well. Traders can accumulate the stock in a range of Rs 292-297 for the upside target of Rs 313 levels and a stop loss below Rs 280. (The author is a Senior Research Analyst, SMC Global Securities Ltd.)
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. First Published on Jan 16, 2019 11:52 am

Buy ITC, target Rs 313: Shitij Gandhi

Accumulate Titan Company, target Rs 1025: Shitij Gandhi
Traders can accumulate the stock in the range of Rs 935-945 for the upside target of Rs 1025 levels and a stop loss below Rs 885, says Shitij Gandhi of SMC Global Securities. Shitij Gandhi
Titan Company has taken support at its 100-days exponential moving average (EMA) on the daily charts and took a V-shaped recovery from Rs 870 levels to once again reclaim the momentum above its short-term moving averages. From the last six weeks, the stock has been consolidating in a broader range of Rs 870-945 along with consistent buying at lower levels. This week, we have observed a fresh breakout in prices above the key resistance level of Rs 945 along with positive divergence in secondary oscillators. Traders can accumulate the stock in the range of Rs 935-945 for the upside target of Rs 1025 levels and a stop loss below Rs 885. Disclaimer: The author is a Senior Research Analyst, SMC Global Securities. The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. First Published on Jan 9, 2019 01:07 pm

Accumulate Titan Company, target Rs 1025: Shitij Gandhi

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