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Forget Nifty and PSU banks; remain focused on stock specific opportunities next week

Sense and sanity appear to have reached global markets after the mayhem witnessed in preceding two weeks in which developed markets like Dow, DAX, CAC and FTSE lost between 9 – 12 % from their recent highs whereas emerging markets from BRIC space slipped between 7-10 percent barring China which took a knock of 14 percent.\

Short-term outlook on Nifty50:
After hitting a panic bottom of 10276, Nifty50 is stuck up in a narrow range of 10,636-10,398 mostly due to domestic factors whereas Global markets witnessed decent rallies.
Indices like Brazilian Bovespa, Russian RTS erased around 60 percent of their losses whereas Dow recouped around 50 percent of its recent losses.
Here are three trading ideas for the coming week which could give up to 8% return:
ACC: BUY | Target: Rs 1720 | Stop Loss: Rs 1611 | Return 4%
The way this counter recovered post quarterly result is suggesting that a major bottom is in place at the recent low of Rs 1568 levels.
After seeing a huge up move in a single session from the lows of Rs 1568 – 1707, it slipped into a corrective consolidation mode for 4 sessions.
HCL Technologies: BUY | Target: Rs 1015 | Stop Loss: Rs 920| Return 8%
After retracing 50 percent of its last leg of the rally from the lows of Rs 824 – 1040, this counter appears to be in a consolidation mode for last 7 sessions.
Interestingly, inside the consolidation phase, it created 50 point range between Rs 922 – 970 levels. Hence, once it manages to register a breakout this counter should witness a move towards Rs 1020 kind of levels.
Asian Paints: BUY | Target: Rs 1180 | Stop Loss: Rs 1117 | Return 3%
In a falling market, this counter closed in a positive zone suggesting that it has bottomed out at a recent low of 1100. After a brief correction, the stocks witnessed a small rally from Rs 1100 to 1150.
Hence, if this counter started a fresh leg of up move then ideally it should head towards Rs 1180 kind of levels. Traders are advised to go long in this counter for the target of Rs 1180 and a stop of Rs 1117.
More info click here>>Nifty Future Trading Tips