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9 stocks that may deliver solid returns in the next few weeks

Money-making ideas
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Money-making ideas
Even as the market has cooled off in the last few sessions, there is no dearth of opportunities to make money. Analysts say some stocks are giving indications of a rally up ahead. Here are a few stock recommendations for good returns over the next few weeks:
ITC | Buy | Target: Rs 230
Agencies
2/10
ITC | Buy | Target: Rs 230
The medium-term structure of the stock is still positive and likely to continue in the near term. In addition, on the daily and weekly charts, ITC is maintaining a higher-bottom series formation, which is broadly positive. Currently, the stock is trading near an important retracement support level, and the structure of the charts suggests high chances of a fresh uptrend wave from the current levels.

(Analyst: Shrikant Chouhan, EVP, Equity Technical Research at Kotak Securities)
HDFC Life | Buy| Target: Rs 760
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HDFC Life | Buy| Target: Rs 760
Currently, the stock is trading near its 20-day SMA along with a higher high and higher low series pattern. It is indicating that the stock is in a strong uptrend and likely to continue its positive momentum in the near term. In addition, on the weekly charts, the stock has formed a reversal formation along with modest volume activity. On the daily charts, the Rs 680 level -- or its 50-day SMA -- should act as strong support for the stock, sustenance above which can take it to Rs 760 levels.

(Analyst: Shrikant Chouhan, EVP, Equity Technical Research at Kotak Securities)
IndusInd Bank | Buy | Target: Rs 1,150
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IndusInd Bank | Buy | Target: Rs 1,150
On the weekly charts, after a long time, IndusInd Bank has managed to close above the resistance level of Rs 1,050, which is grossly positive for the stock. After the breakout, the scrip has formed a flag formation, which indicates that the breakout continuation texture may continue in the short run. The important point is, on Friday, despite a weak market structure, the stock not only rallied over 2 per cent but also managed to close above the Rs 1,050 mark. For breakout traders, Rs 1,020 should be a sacrosanct support level, above which the uptrend is likely to continue up to Rs 1,150.

(Analyst: Shrikant Chouhan, EVP, Equity Technical Research at Kotak Securities)
Dr Reddy’s Labs | Buy | Target: Rs 5,200
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5/10
Dr Reddy’s Labs | Buy | Target: Rs 5,200
On Friday, Dr Reddy’s Laboratories broke out of the Rs 4,560-4,710 trading range on the back of healthy volumes. This augurs well for its uptrend to continue. Technical momentum indicators, such as the 14-day RSI, are also in a rising mode, and not overbought. The stock could gradually move higher in the coming sessions. A buy between Rs 4,650 and Rs 4,750 is recommended for a target price of Rs 5,200 with a stop loss at Rs 4,530.

(Analyst: Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities)
UPL | Buy | Target: Rs 610
Agencies
6/10
UPL | Buy | Target: Rs 610
On Friday, UPL broke out of the 525-557 range on the back of above-average volumes. With momentum indicators, such as the 14-week RSI, in a rising mode, and the medium-term technical setup looking positive, the stock is expected to gradually move higher in the coming sessions. A buy between Rs 545 and Rs 560 is recommended for a target price of Rs 610 with a stop loss at Rs 535.

(Analyst: Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities)
Godrej Industries | Buy| Target: Rs 460
iStock
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Godrej Industries | Buy| Target: Rs 460
The scrip has just broken above the 200-day SMA on the daily charts, indicating that a rally may be up ahead. Traders should buy at the open or on dips to Rs 445 for a target in the range of Rs 454-460 with a stop loss at Rs 440. The recommendation is for a five-day holding period.

(Analyst: Tency N Kurien, analyst at Geojit Financial Services)
Chambal Fertilisers | Buy | Target: Rs 855
BCCL
8/10
Chambal Fertilisers | Buy | Target: Rs 855
The stock has formed a doji candle on the daily charts. It is also showing signs of MACD exhaustion, indicating a round of upside. Traders should buy at the open or on dips to Rs 233 for a target price of Rs 239-245 with a stop loss at Rs 229.50. The recommendation is for a five-day holding period.

(Analyst: Tency N Kurien, analyst at Geojit Financial Services)
Natco Pharma | Buy| Target: Rs 855
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Natco Pharma | Buy| Target: Rs 855
The stock has formed a bullish engulfing pattern on the daily charts. Moreover, it is also showing signs of MACD exhaustion indicating a round of upside. Traders should buy at the open or on dips to Rs 806 for a target price in the range of Rs 834-855 with a stop loss at Rs 794. The recommendation is for a five-day holding period.

(Analyst: Tency N Kurien, analyst at Geojit Financial Services)
Prince Pipes | Buy| Target: Rs 440
Agencies
10/10
Prince Pipes | Buy| Target: Rs 440
The stock has bounced from its hourly 500-DMA, which is a signal for a round of upside. Traders should buy at the open or on dips to Rs 417 for a target price in the range of Rs 427-440 range with a stop loss at Rs 407. The recommendation is for a five-day holding period.

(Analyst: Tency N Kurien, analyst at Geojit Financial Services)
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