Q2 nos to lead the market rally; Infosys and banks boost sentiments

Led by Infosys double-digit earnings growth and strong performance by banks, the companies have set the right stage for continuation of the stock market rally.

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Regards
Ashish

Buy: Adani Enterprises

Here is a share that doesn't go down, it went through what I can now qualify as a correction, it is going up again. The chances are that it will make these new highs. You want to get into momentum stocks in this market because otherwise you don't know—out of 1,500 NSE stocks, 500 could go down and you don't want to be in any of those.

Adani is a F&O stock. The momentum is up. There is a story or glamour behind it. I think the trend is up, so you go and buy it. There is money to be made here.

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Regards
Ashish

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Buy: Dhampur Sugar

I think sugar is now getting the kind of news flow that would suggest that these stocks have bottomed out. For Dhampur Sugar, we can buy with a stop of about Rs 62. The target should be about Rs 77. From here, you should see steady upside in sugar.

Buy: RNRL

It could also be a proxy play in the sense that we could have recommended R Power here, after a long decline from Rs 70 levels, this stock is showing some signs of revival. We have seen this stock declining every day after day and at Rs 37 this stock price has found some support. So I expect a bounce back, the risk reward is very favourable over here. So stop loss of Rs 37 and targets of around Rs 42-44.


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Buy: HDIL

The stock rebounded strongly yesterday. The stock price had decline from levels of Rs 280-285 to Rs 250, which is where the 89-day average was also located. I think a very strong bounce back could continue and test levels of around Rs 272 or even Rs 278. That is the target for the long positions and the stop loss here would be just below Rs 252.

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Buy Eicher Motors

Eicher Motors broke out to new highs and I think we can buy this now with a stoploss of about Rs 1,100. The near term target could be Rs 1,300. It has broken out of a narrow range, so probably there will be more follow through.

Buy: Kotak Mahindra Bank

Kotak Mahindra Bank
I have been fairly bullish on the banks all throughout. I have a buy on a lot of banks today. The whole thing was I have mostly given all of them. So whether it was a State Bank of India, ICICI Bank whether if I were to look at Axis Bank—there is a signal in Yes Bank, Central Bank. So, I had to give a bank for sure—either you play the bank Nifty with a positive bias because bank Nifty itself is giving a breakout of about 12,000 odd. But if I were to play stock for today yes, it’s a bank cum brokerage stock, so I would probably give it stop loss of closer to—if I am playing it on a swing call—then Rs 808 would me my stop loss and I am playing for a larger target closer to Rs 900-895. For the shorter period I could probably look at the stop loss being revised to Rs 815 and the target being closer to Rs 850. So depending on what your timeframe is you could play this accordingly.