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    9 stocks that analysts say can offer solid returns in 2-5 weeks

    ETMarkets.com|
    Money-making ideas
    1/10

    Money-making ideas

    After scaling new peaks, the market appears to be in an overbought territory now. "With Nifty continuing to stay vulnerable to sharp profit taking bouts, we recommend continuing to approach the markets with a cautious view and focus more on protecting profits at current levels than chasing the rally as long as the index is below the 12,960-13,000 zone," said Milan Vaishnav, Consulting Technical Analyst and founder of Gemstone Equity Research & Advisory Services, Vadodara. Here is a collection of hand-picked stocks that can generate impressive returns in the next few weeks.

    iStock
    SBI Cards | BUY | Target Price: Rs 806
    2/10

    SBI Cards | BUY | Target Price: Rs 806

    The stock has taken support near Rs 770 to make a double-bottom formation pattern in the daily chart and has picked up momentum to improve the bias. A fresh upward move is anticipated in the coming days. The RSI indicator is also well placed, indicating strength. With the chart looking good, the analyst suggests traders to buy and accumulate this stock for a target of Rs 900, while keeping a stop loss at Rs 740.

    (Analyst: Vaishali Parekh, senior technical analyst, Prabhudas Lilladher)

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    Gujarat State Petronet Ltd (GSPL) | BUY | Target Price: Rs 198.50
    3/10

    Gujarat State Petronet Ltd (GSPL) | BUY | Target Price: Rs 198.50

    The stock has picked up momentum and is in a rising trend. It is maintaining a positive bias on the daily chart. The RSI indicator is also well placed and has made a trend reversal recently, indicating strength and potential to rise in the coming days. The analyst has a buy call on the stock with a target of 220-225 and stop loss at Rs 182.

    (Analyst: Vaishali Parekh, senior technical analyst, Prabhudas Lilladher)

    Agencies
    Bata India | BUY | Target Price: Rs 1,670
    4/10

    Bata India | BUY | Target Price: Rs 1,670

    After consolidating between Rs 1,200-1,465 levels for the last several months, the week gone by saw Bata breaking out of this range on the back of above average volumes. Technical indicators are giving positive signals as the stock trades above the 20-day and 50-day SMA. Intermediate momentum readings like the 14-week RSI are in rising mode and not overbought. With the technical setup looking positive on the daily, weekly and monthly charts, the analyst expects the stock to gradually move higher in the coming weeks. He has a buy recommendation on the stock between Rs 1,450-1,490 levels for a target of Rs 1,670. Stop loss is suggested at Rs 1,370.

    (Analyst: Subash Gangadharan, Technical Research Analyst, HDFC Securities)

    iStock
    Bharti Airtel | BUY | Target Price: Rs 515
    5/10

    Bharti Airtel | BUY | Target Price: Rs 515

    After falling from a high of Rs 612 touched in May 2020, Bharti Airtel found support around the Rs 394 level in October 2020. These levels were previously held in March 2020, implying that it is a strong support point. The stock then gradually climbed higher and made higher tops and higher bottoms on the way. Momentum indicators like the 14-day RSI are giving positive signals as they are in rising mode and not overbought. With the intermediate technical setup too looking positive, the analyst recommends a buy on the stock between Rs 478-485 for a target price of Rs 515. Stop loss is suggested at Rs 470.

    (Analyst: Subash Gangadharan, Technical Research Analyst, HDFC Securities)

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    Endurance Technologies | BUY | Target Price: Rs 1,170
    6/10

    Endurance Technologies | BUY | Target Price: Rs 1,170

    This counter appears to have resumed its uptrend after testing its 100-day simple moving average (SMA), which acted as a support point during the past on couple of occasions. Hence, as long as this counter sustains above Rs 1,021 level, the trajectory shall remain in an upward direction. Hence, the analyst advises traders to buy now and add further on dips in the zone of Rs 1,050 – 1,040 levels and look for a target price of Rs 1,170. Stop loss is suggested at Rs 1,020.

    (Analyst: Mazhar Mohammad, Chartviewindia.in)

    iStock
    Bank of India | BUY | Target Price: Rs 51
    7/10

    Bank of India | BUY | Target Price: Rs 51

    This counter appears to have registered a consolidation breakout from the range of Rs 42 – 38 on higher volumes. With this breakout, it seems to have embarked on a near-term uptrend. Hence, positional traders are advised to buy into this counter and look for a target of Rs 51. The analyst recommends a stop loss at Rs 41.

    (Analyst: Mazhar Mohammad, Chartviewindia.in)

    Agencies
    Emami | BUY | Target Price: Rs 422
    8/10

    Emami | BUY | Target Price: Rs 422

    This counter appears to have registered a breakout from its 32-day old ascending channel. Moreover, the preceding 5 trading sessions witnessed an extremely narrower trading range. Hence, last Friday’s breakout on much higher volumes, after a narrow range trading, can pave the way for a higher up move. Based on the width of the channel, the analyst recommends positional traders to buy into this counter with a stop loss at Rs 382 and look for a target price of Rs 422.

    (Analyst: Mazhar Mohammad, Chartviewindia.in)

    iStock
    HDFC Life | BUY | Target Price: Rs 663.90
    9/10

    HDFC Life | BUY | Target Price: Rs 663.90

    November has been spectacular for this stock as it has rallied from the levels of Rs 585 to a recent high of Rs 676. In this process, it has sustained above the key levels that have been acting as stiff resistance for the last two years, and thus completing a classical bullish pattern breakout known as ‘Inv Head N Shoulder’. The said breakout was seen during the last week with a bullish candle, increasing volume along with a bullish gap that augurs well for the bulls. On the weekly chart, the RSI has smoothened, giving a fresh buy signal. It is pointing northward, supporting the buy call. Looking at all the above technical parameters, the analyst senses a strong outperformance in this counter and hence, recommends a buy at current levels for a target of Rs 750 over the next 14 sessions. A stop loss is recommended at Rs 635.

    (Analyst: Sameet Chavan, Angel Broking)

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    Dhampur Sugar Mills | BUY | Target Price: Rs 165
    10/10

    Dhampur Sugar Mills | BUY | Target Price: Rs 165

    This stock was vacillating within the boundaries of two converging trend lines on the daily chart. Finally a breakout was seen on the upside, confirming a ‘Symmetrical Triangle’ breakout. The said breakout has been supported with a bullish candle and an increase in volumes. In addition, prices have broken above the higher end of Bollinger band, indicating a momentum up move in the near term after its recent consolidation phase. Moreover, prices are placed well above the key moving averages, and oscillators are positively placed supporting the overall positive bias. Hence, the analyst recommends a buy at current levels for a target of Rs 165 over the next 14 sessions. The stop loss should be placed at Rs 143.50.

    (Analyst: Sameet Chavan, Angel Broking)

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