Before MPC meeting on Wednesday, stock market ends their Tuesday trading session on a strong note. As RBI has previously given rate-cut, it is not clear that we would get another rate-cut or not. However, few stocks on Tuesday session were traded very actively. Rcom, after calls off Aircel merger loose almost 10 percent intraday. In few days, so many news have came like change in management, in talk with Brookfield to sell entire stake, may sell spectrum, land and optical fiber cable and many more. From such things, it is not getting clear what will be the scene of Rcom’s debt in near term. However, media reports are suggesting that banks may hold a meeting to discuss on calls off Aircel merger.
On the other hand, Jindal steel on tuesday rose more than 6 percent after news of fund raising plans. Chemical sector was also recorded among top actively traded pockets from which some stocks rose more than 10 percent. However, this sessions also saw some technical breakouts in few stocks with great volume. From them, i have picked few stocks on which you can take a look for short-term.
First stock that came to my eyes is of Phillips Carbon. Stock hits 52 week high of Rs904 on tuesday and closed around Rs896. However, stock has already rallied over 400 percent in last one year. Not only this stock, other carbon and chemical related stocks have also gave great returns. I think with a clear breakout of 900, stock would touch a high of Rs1000 in short-term.
In recent trading sessions, stock of Gail has shown a good momentum in market. Many other stocks of same category have shown great momentum in past few months. Stock on tuesday hits 52 week high of 438 while stock get closed at Rs435. I think with a good consolidation around Rs400 for few months, stock looks capable to cross levels of 450 and maybe 500 also in short-term.
From past many months, Stock of Bajaj Auto was consolidating around Rs2800. But in recent trading sessions, stock has gave a good breakout at Rs3000 without any closing below this level till now. However fundamentally stock has enough strength of giving 30-40 percent return in short-term. And now, technically also it looks like stock would give a better return in short-term. Therefore, i think Bajaj Auto would give a upmove to Rs3500 soon.
GNFC is among those stocks who have performed with well stabled upmove in past. With every consolidation, stock has gave a good move most of the times. Stock has previously made high of Rs347 which i think would get break shortly. Further, stock is capable to move to Rs400 in short-term.
Have any question related to this post! Feel free to ask through comment box given below.