![]() Since, March 2022, technically, a lot of things changed for the stock Hero MotoCorp. Hero MotoCorp: Buy | LTP: Rs 2,547 | Stop-Loss: Rs 2,350 | Target: Rs 2,850 | Return: 12 percent The strategy should be to buy at Rs 1,750 and at Rs 1,710. Minor resistance exists at Rs 1,800 and Rs 1,840. ![]() On Friday, it closed above the level of Rs 1,740 which would send the stock into the higher trading zone, which is between Rs 1,700 and Rs 1,930. On a daily and weekly basis, the stock is trending upward. Grasim Industries: Buy | LTP: Rs 1,752.5 | Stop-Loss: Rs 1,680 | Target: Rs 1,840 | Return: 5 percent Returns are based on the May 5 closing prices:Įxpert: Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities Let's take a look at the top 10 trading ideas by experts for the next three-four weeks. Sameet Chavan advised that traders should continue with a stock centric approach and should use declines to add longs with a near term perspective. On the indicator front, Karwa says the momentum indicator Relative Strength Index RSI (14) is showing a reading of 63 and Nifty is trading above its 200 EMA at 17,569 which indicates strength. "The 18,000 levels are expected to act as a strong support zone and if held in the current week, Nifty will start moving towards 18,500 levels." Mitesh Karwa, research analyst at Bonanza Portfolio, feels the current week is of extreme importance as it will decide the trend for the next leg. "We are of the opinion that if there is no aberration globally, we may see buying resuming at key supports," Sameet Chavan, Head Research - Technical and Derivatives at Angel One, said.Īs far as levels are concerned, he said 18,000, followed by 17,900 are to be seen as key supports, whereas on the flipside, the sturdy wall once again stands at 18,150–18,250. On the weekly basis, the Nifty50 continued its higher highs formation for sixth consecutive week, though we have seen shooting star kind of pattern which is generally a bearish reversal patter but requires confirmation in following sessions. The 18,200-18,250 range could be crucial on the higher side which can take the index above 18,500-18,600 levels, but falling below 18,000 levels can drag the index up to 17,800, while 17,500 would be a critical hurdle going ahead, experts said. The index closed at 18,069 on May 5, falling over a percent, while the weekly gains were at 4 points. A sharp downswing erased all the weekly gains last Friday and, as a result, the market closed flat on the NIfty50 but still held on to the psychological 18,000 mark that, according to experts, would be crucial for the road ahead.
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