BHEL, Aurobindo Pharma, NHPC: How to trade these stocks amid the results buzz?

Indian stock markets surged sharply higher during the second half of the trading session on Friday on the back of positive global and domestic cues. All round buying across all the sectors made Dalal Street investors richer by Rs 2.5 lakh crore during the previous session.  For the day, BSE Sensex surged about 629.07 points, or 1.02 per cent, to close at 62,501.69, while NSE's Nifty50 surged 178.20 points, or 0.97 per cent, to end the session at 18,499.35.

Select result bound stocks Bharat Heavy Electricals (BHEL), Aurobindo Pharma and NHPC are likely to remain buzzing at Dalal Street for the session amid the earnings buzz. Here is what Mileen Vasudeo, Senior Technical Analyst at Arihant Capital Markets has to say on these stocks ahead of Monday's trading session:

Bharat Heavy Electricals | Hold | Target Price: Rs 85-91 | Stop Loss: Rs 76
On the daily chart, BHEL has started trading below the 20-day SMA (Rs 81), which is a sign of weakness. At present, the stock is outperforming the benchmark indices. However, the momentum indicators are negative. Hence, one can hold the stock at current levels with a stop loss of Rs 76 for a target of Rs 85-91 levels in a couple of weeks.

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Aurobindo Pharma | Buy | Target Price: Rs 675-710 | Stop Loss: Rs 580
Auro Pharma has marginally reclaimed the 10 and 20-day SMA, which is a sign of strength. Further, the stock is outperforming the benchmark indices. The momentum indicator, viz., MACD, is gaining momentum. Combining the above scenarios, it is evident that momentum on the upside is likely to continue. Hence, one can buy the stock at current levels with a stop loss of Rs 580 for a target of Rs 675-710 levels in the next couple of months. 

Also read: Stocks that share market Analysts recommended on May 29

NHPC | Hold | Target Price: Rs 48-54 | Stop Loss: Rs 39
NHPC is trading in the strong demand zone of Rs 40 to 42. Hence, there is a high probability of a strong bounce from the current level. At present, the stock is still outperforming the benchmark indices. Even the momentum indicator, viz., the RSI, is positively poised. Hence, one can hold the stock at current price with a stop loss of Rs 39 for a target of  Rs48- 54 levels in the next couple of weeks.


(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today.)

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