The Monetary Policy Committee (MPC) of the Reserve Bank of India has decided to retain the repo rate at 5.5 per cent. The committee has also kept its policy stance neutral. The stock market was also eyeing this decision of RBI. Moneycontrol has made a list of 10 such shares by talking to market experts, which can be witnessed due to RBI decisions during the next 3-4 weeks. All these stocks have been selected on the basis of technical parameters.
1. Mahindra & Mahindra (M&M)
Angel One Technical Analysts Rajesh Bhosle has advised to place bets on this stock. He has kept a target of Rs 3,550 for this, while the stop loss has been advised to put at Rs 3,040. Bhosle says that this stock was trading in a radius last year, but now it has recently given a breakout from this range. Stock is trading above all its important moving averages, indicating positive moments.
2. L&T Finance (L&T Finance)
Rajesh Bhosle has advised to buy this stock with a target of Rs 229. At the same time, it has been advised to put stop loss at Rs 193. He said that the stock remained calm in July, but has seen returning to the fast since the beginning of August. In such a situation, it is advisable to buy this stock between ₹ 200- ₹ 204.
3. Indian Bank (Indian Bank)
Rajesh Bhosle says that this stock can be purchased between 630 and 635 rupees. He has stated the target price of Rs 700 for this. At the same time, it has been advised to put stop loss at Rs 597.
4. Axis Bank
Technical Research Analyst of Samco Securities, Om Mehra has advised to bet on this stock. He has given target price 1150 and then 1200 rupees for this. At the same time, it was advisable to apply stop loss 1050 rupees. However, he also said that if this level of stop loss is broken, then this stock can slip from Rs 1020 to Rs 1000.
5. Godrej Properties
Om Mehra has also advised to buy this stock and said that this stock is currently trading near its crucial demand zone. He has given a target price of Rs 2400 for this. While it is advisable to put stop loss at Rs 1890.
6. Bajaj Finance
Om Mehra of Samco Securities has advised to buy this stock. He has given target price of 950 and 970 rupees for this. At the same time, it has been advised to put stop loss at Rs 865.
7. TVS Motor Company
Research Head of GEPL Capital, Vidyan Samvat has advised to buy this stock and has kept the target price of Rs 3,342 for this. At the same time, it is advisable to put stop loss at Rs 2,834. Samvat said that the weekly chart of this stock appeared to be Shantar and it has given a breakout from the 16 -week consolidation zone.
8. SBI Life Insurance Company
Vidyan Samvat has advised to buy this stock with a target of Rs 1,990. At the same time, it has been advised to put stop loss at Rs 1,785. Samvat said that this stock has been showing relative strength for three consecutive months and technical indicators are still showing support for purchasing in it.
9. RBL Bank (RBL Bank)
Vidyan Samvat has advised to buy this stock with a target price of Rs 287. At the same time, it is advisable to put stop loss at Rs 255. Samvat is constantly making a pattern of Higher High and Higher Low, which is a fairly strong bullish structure.
10. Jindal Steel & Power
Gala of Ventura’s Technical Head Bharata has advised to buy this stock with a target price of Rs 1350. At the same time, it is advisable to put stop loss at Rs 880. Gala of Bharat said that this stock is trading above all important averages and is currently close to a transal breakout.
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Disclaimer: The ideas and investment advice given by experts/brokerage firms on Moneycontrol are their own, not the website and its management. Moneycontrol advises users to consult a certified expert before making any investment decision.