Prabhudas Lilladher has come out with a report on several stocks including One97 Communications (Paytm), FSN E-Commerce Ventures (Nykaa), PB Fintech (Policybazaar), CarTrade Technologies, Affle India, Nazara Technologies and Go Fashion, among others. Prabhudas Lilladher finds stocks ‘high potential’ picks and suggested supports and short-term price targets for the 10 stocks.
Paytm’s stock has indicated a decent spurt to come out of the consolidation phase and moving past the significant 200-DMA level of Rs 630. This has improved the bias. The RSI has shown strength and with the chart, indicating immense upside potential. One may buy and accumulate the stock for an upside target of Rs 845 keeping the stop loss of 608.
The Nykaa stock has given a bullish candlestick pattern after a short consolidation period, and Prabhudas Lilladher anticipates it to give a return of around 15тАУ20 per cent from here on. The RSI indicator has also given a buy signal by reversing its trend. A strong support is seen at Rs 130 level. Prabhudas Lilladher has recommended a buy on the counter with a stop loss of Rs 132 and an upside target of Rs 185.
The Policybazaar stock has recently made a double bottom formation in the daily chart and has recovered significantly to give a breakout above the previous peak level of Rs 492. The stock has the potential to continue its rally to the level of Rs 620 and beyond with strength, said Prabhudas Lilladher. The brokerage has recommended buying the stock with a target price of Rs 620 and a stop loss of Rs 434.
The Affle India stock has indicated an asymmetrical Triangular pattern on the daily chart, with base taken near the long term trendline support zone of Rs 1,020. The RSI is well placed and has shown upside potential from here on. It suggested buying the stock for an upside target of Rs 1,310. It advised traders keeping the stop loss at Rs 936.
CarTrade has made a decent correction from the recent higher levels of Rs 732 to Rs 234, where it has taken support and almost made a double bottom formation on the daily chart. The RSI is sending positive signal. With volume picking up, Prabhudas Lilladher recommended buying the stock for an upside target of Rs 640. It advised tarders to keep stop loss at Rs 459.
Nazara Technologies stock has been in a sideways movement for some time, hovering between the large range of Rs 630 and Rs 525. The RSI has been on the rise, and Prabhudas Lilladher anticipated the stock to move upward towards the Rs 630 level. As long as the price remains above Rs 630, it is anticipated to rise further until it reaches the Rs 700 level. It recommended buying the stock for an upside target of Rs 690, keeping a stop loss at Rs 490.
The stock has been in a gradual correction phase and after the recent rally has made a higher bottom formation pattern in the daily chart and we anticipate the stock to move strongly in the upward direction further. The RSI also has indicated a trend reversal signalling a buy and with decent volume participation we recommend a buy in this stock for an upside target of Rs 5,880 keeping a stop loss of Rs 4,230.
RateGain Travel has broken out above the Rs 315 level and is heading towards the next resistance zone of Rs 400. Prabhudas Lilladher expects the stock to see a breakout above 400 level. highs. Prabhudas Lilladher expects an upward move in the coming days. “With the RSI maintaining its strength, it supports our view of a positive bias. We advise you to buy this stock with a target price of 455 and a stop loss of Rs 324,” it said.
After witnessing a decent correction from the Rs 1,450 level, the stock has found support near the 1,000 level, a 0.78 per cent retracement of its recent fall. It has formed a positive candle, indicating strength towards the Rs 1,320 level. With the RSI indicating a trend reversal and signalling a buy, Prabhudas Lilladher recommended a buy on the counter with an upside target of Rs 1,320, keeping the stop loss at Rs 925.
The MapmyIndia stock has witnessed a short correction from Rs 1,180 levels to Rs 1,050 level. It has been taking support near Rs 1,050 level, indicating a higher-bottom formation on the daily chart.
There are signs of improvement in the bias, with the RSI also showing a trend reversal and signalling a ‘buy’. Prabhudas Lilladher recommended buying the stock with an upside target of Rs 1,350 and a stop loss of Rs 973.
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