Press "Enter" to skip to content

Hot Stocks | KSB, Endurance Technologies, Transport Corporation may give up to 12% return in short term…. – Moneycontrol

Vinay Rajani, Senior Technical & Derivative Analyst at HDFC Securities

From the day’s high of 16,414, the Nifty lost more than 200 points to close at 16,214. By falling 700 points from intraday high, BankNifty ended the session with Bearish Shooting Star pattern on the daily chart.

Markets have been highly volatile and choppy for last couple of weeks. Last week, the Nifty managed to hold its level above March 2022 bottom of 15,671 and made a higher bottom at 15,775. The Nifty formed bullish triple bottom formation at 15,740 odd levels. Recent swing high was formed at 16,414, above which the benchmark would confirm bullish trend reversal. Nifty daily line chart and RSI (relative strength index) indicates higher chances of index to find support at lower levels.

Breadth indicators like number of stocks above their 200 DMA (days moving average) and number of stocks making 52-week highs, indicates that breadth of market has probably bottomed out.

Last week, Nifty Smallcap Index formed bullish “Harami” candlestick pattern, which can be considered as an Inside Bar pattern on the weekly chart. This development after 5 weeks’ consecutive fall, indicates the probable bullish trend reversal for markets.

Considering the technical evidences discussed above, we believe that Nifty is currently trading in range of 15,750-16,400. However indicators and inter market analysis indicates higher chances of breakout on the upside in the index.

Fresh sell signal would only trigger below 15,740 in Nifty. Till then one should have optimistic approach for the Indian equity markets. Above 16,414, Nifty could extend the rise towards 16,925. We advise cutting trading longs below 15,740 in Nifty.

Here are three buy calls for next 2-3 weeks:

KSB: Buy | LTP: Rs 1,469 | Stop-Loss: Rs 1,350 | Target: Rs 1,650 | Return: 12 percent

The stock surged more than 8 percent with jump in volumes on May 20, 2022. Stock has registered fresh all-time high of Rs 1,484. It has broken out from the “Flag” pattern on the weekly charts.

It is placed above all important moving averages, which indicates bullish trend on all time frames. Indicator and oscillators have been showing strength in the current uptrend.


Endurance Technologies: Buy | LTP: Rs 1,303 | Stop-Loss: Rs 1,220 | Target: Rs 1,450 | Return: 11 percent

Stock has broken out from last 12 weeks’ price consolidation. Breakout is accompanied by rising volumes. It has surpassed the strong resistance of 50 days EMA (exponential moving average).

It has started forming higher tops and higher bottoms on daily charts. Indicators and oscillators have turned bullish on the short term charts. Auto sector has been outperforming for last couple of weeks.


Transport Corporation of India: Buy | LTP: Rs 754 | Stop-Loss: Rs 720 | Target: Rs 820 | Return: 9 percent

The stock is placed above 20, 50 and 200 days EMA, which indicates the bullish trend on all time frames. Stock price has surpassed the previous swing high resistance of Rs 764.

Indicators and oscillators like RSI, DMI (directional movement index) and MACD (moving average convergence divergence) have been showing strength in the current up move.


Disclaimer: The views and investment tips expressed by investment experts on are their own and not those of the website or its management. advises users to check with certified experts before taking any investment decisions.

Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes