Technical picks: GAIL, Coforge, CCL Products, TPL Plastech and other stocks analysts recommend now

SUMMARY

Indian equity benchmarks are soaring like there is no tomorrow with the banking pack making a strong comeback. All eyes are now on Mount 18,000 for the Nifty50 index, just days after the 50-scrip gauge registered its fastest 1,000-point journey to scale the 17,000 mark for the first time ever. As things look hunky dory for now, traders are scouting for fresh opportunities to make money. Analysts have recommended a few stocks -- including oil & gas giants GAIL and BPCL, and midcap IT company Coforge -- to make the most of the rally in the near term. Here's a list of stocks that they are betting on:

By CNBCTV18.comSept 17, 2021 12:57:07 PM IST (Published)

GAIL: After trading in a range for quite some time, the stock has broken out of the upper end of that band around Rs 153-154. The momentum is expected to continue for some more upside. Traders can look at buying for a target price of Rs 167 with a stop loss at Rs 144. (Analyst: Manish Hathiramani, Deen Dayal Investments)

CCL Products: The stock has been consolidating for the past four months after a breakout in May. It has retraced 50 percent of the move, and is now stable at the current price. It is expected to rally back to all-time highs soon. Buying is recommended between Rs 390 and Rs 405 for a target of Rs 495 with a stop loss at Rs 355 from a six-month perspective. (Analyst: Miraj Vora, IDBI Capital)

PVR: The stock has been trading near the support level at its 200-day moving average, from where it is expected to give a reversal. Technical indicators MACD and RSI suggest the momentum in PVR to continue going forward. A 'buy' is recommended above Rs 1,420 for a target of Rs 1,550 with a stop loss at Rs 1,295. (Analyst: Ashish Biswas, CapitalVia)

Bharat Petroleum: The high of Rs 493.9, registered on June 6, 2021, has been crossed recently with healthy volumes. A new high is expected in BPCL going forward. Traders can look at buying the stock for a target of Rs 520 with a stop loss at Rs 470. (Analyst: Manish Hathiramani, Deen Dayal Investments)

TPL Plastech: Buying the stock at the Rs 192.5 mark is recommended for a target of Rs 209 with a stop loss at Rs 184. (Analyst: Manoj Dalmia, Proficient Equities)

Hindustan Petroleum: The stock has formed an inverted head-and-shoulder pattern. The bullish movement in HPCL from the support level of its 200-day moving average is expected to continue. Buying is recommended above Rs 276 for a target of Rs 320 with a stop loss at Rs 244. (Analyst: Ashish Biswas, CapitalVia)

Coforge: The momentum is expected to continue in the stock, which has taken support at its 200-day moving average. Traders can look at buying above the Rs 5,510 mark for a target of Rs 5,800 from a medium-term perspective with a stop loss at Rs 5,100. (Analyst: Ashish Biswas, CapitalVia)