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After polls these stocks recommended

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Mumbai, May 24 (IANS) The markets witnessed a rally on Thursday and are expected to perform well in the near term, brokers have said.

According to Kotak Securities, attractive stocks across market cap among corporate banks were ICICI Bank and State Bank of India. In the mid- and small-cap segment the Federal Bank was the top pick.

Larsen and Toubro in the capital goods segment, Power Grid in the power segment, Zee Entertainment, Mahindra and Mahindra and HDFC Ltd in other key sectors.

Among the mid- and small-caps stocks like Aegis Logistics, Apollo Tyres, Cyient Ltd were recommended by Kotak Institutional Equities.

It also pointed out that sectors like capital goods, construction, building materials, corporate banks, power equipment, housing finance companies and rural-focused companies will benefit the most over the next one year.

Romesh Tiwari, Head of Research, CapitalAim recommended buying Ashok Leyland, DLF, Cholamandalam Investment and Finance, ICICI Bank and ACC.

Tiwari recommended Ashok Leyland as the decline in the net profits for the last quarter is already discounted in the price and the company is expected to recover and grow. For the short term the stock can move to 110 with support lying around 85-87. Recommend buying on dips.

DLF has shown sharp upmove from 161 levels and expected to continue this momentum to test 202 levels in next week. The support lies around 185-187 for short term and can be bought on any decline around that levels. Intermediate and long term is still negative for the stock so strict stop loss should be maintained in case it falls below 185.

ACC is overall in a bullish trend since and ICICI Bank as it breached all-time high of 411 levels and now continue to trade around there.

KEC International, India Cement and Edelwiss were the recommended stocks by Mustafa Nadeem, CEO, Epic Research.

KEC as the stock has given the breakout of the flag pattern on the daily chart on a closing basis. Nadeem recommended buying above 313 for the target of 317 with the stop loss of 310.

India Cement, Nadeem said has outperformed well with volume breakout and closed near today’s high. It also gave closing above 200 EMA on the daily chart. He recommends buying above 116 for the target of 118 with the stop loss of 114.

Edelwiss is forming an inverted flag on the hourly chart and trading at upper trendline of the flag. Nadeem recommended selling around 187 for the target of 184 with the stop loss of 190.



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