PVR Inox, SAMIL, India Cements among stocks that analysts picked for short-term trade

Domestic brokerage firms including LKP Securities, Ashika Global and SMC Global are positive on the select stocks, namely- Samvardhana Motherson International Ltd, PVR Inox Ltd, India Cements Ltd and Chambal Fertilizers & Chemicals Ltd - as benchmark indices scaled new highs. The brokerage firms believe that these stocks are headed for a strong upside in the near-term on the basis of their technical setup. Here what the analysts said about these counters:

Samvardhana Motherson International | Buy | Target Price: Rs 110 | Stop Loss: Rs 90
Samvardhana Motherson International (SAMIL) has broken out of a consolidation pattern on the daily chart, suggesting increased optimism. On the daily chart the stock is hovering within a broadening wedge. Additionally, it remains above the critical moving averages, further indicating an uptrend. In the short term, the stock may reach Rs 110 as long as it stays above Rs 90.
Recommended by: Rupak De, Senior technical analyst at LKP Securities

PVR Inox | Buy | Target Price: Rs 1,935-1,950 | Stop Lsso: Rs 1,620
PVR Inox has been trading under pressure as prices have seen a consistent downside from Rs 1,850 levels towards Rs 1,600 levels with formation of lower high patterns on the weekly interval from last three to four months. However a smart recovery has also been observed from the last two weeks as the stock has managed to take support at its 200 days exponential moving average on the weekly interval. If we look at broader charts, the stock has given a breakout above the Cup & handle pattern along with positive divergences on secondary oscillators. Therefore, one can buy the stock in the range of Rs 1,740-1,745 levels for the upside target of Rs 1,935-1,950 levels with stop loss below Rs 1,620 levels.
Recommended by: SMC Global

India Cements | Buy | Target Price: Rs 300 | Stop Loss: Rs 260
India Cements has moved up higher following a consolidation on the daily chart, suggesting increased optimism. Additionally, it remains above the critical moving averages, further indicating an uptrend. In the short term, the stock may reach Rs 300 as long as it stays above Rs 260.
Recommended by: Rupak De, Senior technical analyst at LKP Securities.

Chambal Fertilizers & Chemicals | Buy | Target Price: Rs 385 | Upside: 13%
Chambal Fertilizers has registered a breakout above the trading range of the last one year (275-335) with a strong volume signalling resumption of up-movie and offers fresh entry opportunity. One can expect the stock to continue with its upmove and head towards Rs 385-390 levels in the coming weeks as it is the measuring implication of the range breakout (Rs 275-335=60points) added to the breakout area Rs 335 signals upside towards Rs 385-390 levels. Among the oscillators the daily 14 periods RSI remains in strong uptrend as it is rebounding, taking support at its nine periods average thus validating positive bias. Hence one can expect the stock to head towards Rs 385 in near term.
Recommended by: Ashika Group

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