By RA’s from Stocktwits
CDSL (Central Depository Services Limited) and Alkem Laboratories have emerged as top stock recommendations on Stockwits for the week, gaining attention and positive sentiment from the trading community.
The benchmark equity indices opened Monday’s trading session in the positive territory. The NSE Nifty 50 opens higher by 67.25 points or 0.31% to settle at 21,921.05, while the BSE Sensex gains 183,48 points or 0.25% to 72,269.12 in the opening trade. The broader indices opened in mixed territory. The bank Nifty index opens lower by just 8.70 points or 0.02% to settle at 45,962.25.
Here are the top stocks recommendations:
Central Depository Services (India) Ltd by Kush Ghodasara
Buy | Near 1873.20 | Tgt 1964 | SL: 1832
Stock has been trading inside a downward sloping channel since the high in month of December and also volumes had been low until yesterday when we have witnessed a bit of breakout from channel with 3x the average volumes. On the other side momentum indicator RSI has show internal crossover to confirm some bullish trend ahead. Stock can be bought for some short term momentum as 5-10 day average is acting as strong support around 1800-1840.
Alkem Lab by Vipin Dixena
CMP: 4917 | Target: 5275 | Stoploss: 4766
The long and short term chart structure of the company is positive. The stock has rallied almost 25% after giving breakout of its previous all time high level of around 4200. Now the stock has consolidated and is trading around its EMA 50 level. The stock seems bottoming out from its EMA50 level and may touch its immediate resistance of 5275 which is around 7% up from current price of the stock. The stoploss can be kept at 4766.
Accelya Solutions India by CA Chirag Jain
BUY | CMP: 1802 | TARGET: 2100 | SL: 1725.
The Stock has demonstrated a breakout with good volume from the base of cup and handle pattern, followed by a successful retest of the breakout level. This suggests a potential upward movement in near future till 2100 levels with stoploss placed at 1725.
(Views expressed are author’s own. Please consult your financial advisor before investing.)