Stocks To Buy Now On Technical & Fundamental Analysis

stocks to buy now

Here are a list of stocks to buy now based on fundamental and technical analysis.

The stocks have been recommended for a buy by leading experts because the stocks are safe on fundamental parameters.

The stocks are also safe of technical parameters. Most stocks are on an uptrend and are likely to continue that trend.

The buy recommendations have been made by experts like Sacchitanand Uttekar, Mitesh Thacker and Vikas Sethi.




Outlook of Nifty

Nifty has continued to oscillate within the strangled trading range of 8720-8530. A decisive breach outside the said range could unfold the directional bias. Volatility can be expected to have an upper hand as the range gets contracted.

If Nifty closes decisively above 8720 it could reinstate the bullish momentum. Traders are advised to go long with a stop below 8530.

Stocks to buy now

(i) Larsen & Toubro (L&T):

Larsen & Toubro (L&T) was not breaking below support levels of Rs 1,460-1,465. Yesterday it has done that with some negative crossovers in the intraday indicators suggesting that pressure should be on the downside. So, look for targets of Rs 1,415 and sell with a stop loss just above Rs 1,476.

(ii) Indiabulls Housing Finance:

Indiabulls Housing Finance made a fresh swing high. Traders can take a long position with a stop loss at Rs 813 for targets of Rs 850.

(iii) Torrent Power:

Torrent Power is a conditional buy. If it gets past Rs 189-190, it will have a break out in the short term. Buy then with a stop loss at Rs 184.50 for targets of Rs 203.

(iv) Bajaj Finance can be bought above Rs 10,350.




(v) Indusind Bank:

The positive sector outlook for banks & a fresh breakout from the continuation pattern augurs well for the secular up move to remain intact. The stock can be bought with a stop below 1168 for a target upto 1310.

(vi) Jain Irrigation:

Jain Irrigation has formed a rounding bottom. The uptrend is expected to remain intact. Fresh breakout raises expectation of an accelerated move. Jain Irrigation could be traded with a stop at 82.50 for a target upto 93.

(vii) Bajaj Finance:

Bajaj Finance has formed a ‘Rising Three’ formation. The recent decline of the stock provides a good opportunity to buy the stock. Bajaj Finance is expected to resume is secular up move. The stop loss is below 9740.

(viii) L&T Finance:

L&T Finance is a leading NBFC company with a strong parentage of L&T. The NBFC sector will do well in view of the good monsoon and the recovery in the rural economy.

The Seventh Pay Commission and the passage of GST bill would also be pretty positive for the NBFC sector as a whole.

L&T Finance is in a very good position to capitalise on the tremendous opportunities which would be thrown in. The company reported decent set of numbers for Q1FY17 quarter.

L&T Finance has also done a management restructuring which leads to a shift in focus. That would be also an added positive for L&T Finance.

The valuations of L&T Finance are reasonable. It has underperformed compared to its peers. Even after the run up it is trading at a significant discount to Bajaj Finance, M&M Finance and Shriram Transport Finance.

(ix) Bodal Chemicals:

Bodal Chemicals operates in three segments, namely, intermediaries, dye stuff and basic chemicals. All the three segments are doing pretty well.

Bodal Chemicals reported excellent set of numbers for Q1FY17. The net profit went up 60% from Rs 20 odd crore to Rs 32 crore. There was also a significant improvement in the margin owing to the increase in prices in the chemical sector because of the restrictions put on Chinese companies.

The benefit of low raw material cost is also enjoyed by Bodal Chemicals because of the lower crude prices.

In FY17, Bodal Chemicals is expected to report an EPS of Rs 12 in FY17. At the current market price, Bodal Chemicals is quoting at 9.5 times FY17 earnings which is quite attractive compared to its peers.




Leave a Comment

Your email address will not be published. Required fields are marked *