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    10 stocks that analysts say can offer solid returns over the next 2-3 weeks

    ETMarkets.com|
    ​Money Making Ideas
    1/13

    ​Money Making Ideas

    The domestic markets extended their stellar rally to the fourth straight session on Monday, with NSE barometer Nifty reclaiming the 10,800 mark. However, analysts are advising to adopt a cautious approach in the market. "In the current technical setup, we strongly recommend avoiding any major exposure and adopting a highly selective and stock-specific approach," said Milan Vaishnav, CMT, MSTA is a Consultant Technical Analyst and founder of Gemstone Equity Research & Advisory Services.

    Here are 10 stocks that can offer solid returns over the next 2-3 weeks:

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    Cochin Shipyard | BUY | Target Price: Rs 347
    2/13

    Cochin Shipyard | BUY | Target Price: Rs 347

    This counter appears to be in a consolidation mode after the recent rally from the lows of Rs 218 to Rs 324 levels and seems to have posted a near-term bottom at the recent low of Rs 293 with indecisive formations in a row for two sessions. With improved sentiment in the sector, sooner than later, it should gather momentum and resume its uptrend. In that scenario, it can head to Rs 350 levels which is the 50% retracement of its fall from Rs 491 to Rs 210 levels. Hence, positional traders are advised to buy into this counter with a stop below Rs 290 and look for a target of Rs 347.

    [Analyst: Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in]

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    Mirza International | BUY | Target Price: Rs 59
    3/13

    Mirza International | BUY | Target Price: Rs 59

    This counter appears to have registered a decisive breakout above the level of Rs 48 which emerged as a formidable resistance as this counter slipped at least 3 times in the recent past after testing that level. Hence, as it is comfortably sitting above its erstwhile hurdle, positional traders are advised to adopt a two-pronged strategy of buying now and on any dip towards Rs 48 levels. Sustaining above Rs 45, it should initially head for a target of Rs 59. Stop suggested for the trade is close below Rs 45.

    [Analyst: Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in]

    Godrej Consumer Products | BUY | Target Price: Rs 767
    4/13

    Godrej Consumer Products | BUY | Target Price: Rs 767

    Momentum appears to have picked up once again in this counter as it registered a strong close after multiple listless trading sessions of the last couple of days. This strong price action of last Friday can expand its up move towards its interim top of Rs 772 levels as it cleared all other hurdles in terms of retracement levels. Therefore, positional traders can buy now and add further on the decline into the zone of Rs 705-698 levels and look for a target of Rs 767. Stop suggested for the trade is a close below Rs 695.

    [Analyst: Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in]

    Siemens | BUY | Target Price: Rs 1,240
    5/13

    Siemens | BUY | Target Price: Rs 1,240

    For the last few months, the stock prices were gyrating within two converging trend lines and during the last session, prices finally broke from this range on the upside confirming a bullish ‘Symmetrical Triangle’ breakout. That said, the breakout is seen with a spurt in volume and a bullish candlestick pattern. On the daily chart, prices are well above 20SMA and 50SMA indicating short to medium uptrend. Moreover, momentum oscillator i.e. RSI is in positive zone supporting the 'buy' call. Looking at all the above evidence, the analyst senses a strong outperformance by this counter and hence recommends a buy at current levels for a target of Rs 1,240 over the next 14 sessions. The stop loss should be fixed at Rs 1,095.

    [Analyst: Sameet Chavan, Chief Analyst, Technical and Derivatives, Angel Broking]

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    MGL | BUY | Target Price: Rs 1,138
    6/13

    MGL | BUY | Target Price: Rs 1,138

    This stock is in an uptrend continuously, moving in a higher top higher bottom price structure. On the daily chart, for the last few sessions, the stock prices have slipped into consolidation with a strong base forming around Rs 1,030 levels which also coincides with the upward sloping trend line. On the hourly chart, prices have moved out of recent consolidation suggesting early signs of resumption of the uptrend. In addition, on the daily chart, the analyst is witnessing a fresh buy crossover in MACD supporting the buy call. Going with the above observation, he recommends a buy on this stock at current levels for a target of Rs 1,138 over the next 14 sessions. The stop loss should be fixed at Rs 1,029.

    [Analyst: Sameet Chavan, Chief Analyst, Technical and Derivatives, Angel Broking]

    Bharti Airtel | BUY | Target Price: Rs 610
    7/13

    Bharti Airtel | BUY | Target Price: Rs 610

    The stock price has broken out from the symmetrical triangle pattern on the daily charts. Volumes during the breakout are high. The primary trend of the stock is bullish as the price is forming higher tops and higher bottoms and is also above all the important moving average parameters. The analyst recommends a target price for the stock at Rs 610 with a stop loss of Rs 560.

    [Analyst: Vinay Rajani, Technical Research Analyst, HDFC securities]

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    Bosch | BUY | Target Price: Rs 12,500
    8/13

    Bosch | BUY | Target Price: Rs 12,500

    The stock has broken out from bullish cup and handle pattern on the daily charts. Volumes during the breakout are high. The stock has been forming higher tops and higher bottoms. The auto sector has started outperforming and indicators and oscillators are indicating a bullish trend for the stock. The analyst recommends buying the stock for the target price of Rs 12,500 with a stop loss of Rs 11,300.

    [Analyst: Vinay Rajani, Technical Research Analyst, HDFC securities]

    Seimens | BUY | Target Price: Rs 1,125
    9/13

    Seimens | BUY | Target Price: Rs 1,125

    Post quick pullback rally from Rs 1,000 to Rs 1,150, the stock was witnessing narrow range activity. However, on daily charts, the stock has formed higher bottom series pattern along with positive SAR series which indicates uptrend is likely to continue in near term. In addition, on daily charts, the stock has formed a strong bullish candle along with incremental volume activity which indicates high chances of another uptrend rally from current levels. In short-run, Rs 1,100 should be the key level to watch, if the stock manages to trade above the same then it can extend gains up to Rs 1,225. Stop loss for the trade should be at Rs 1,100.

    [Analyst: Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities]

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    BEML | BUY | Target Price: Rs 705
    10/13

    BEML | BUY | Target Price: Rs 705

    BEML has formed a Rectangle formation on daily charts. Currently, the stock is consolidating between Rs 615 to Rs 670. The Higher low formation on weekly charts suggests the medium-term trend up and positive momentum is likely to continue in the near term. Hence, if the stock consistently manages to trade above Rs 635, we can expect a quick pullback from current levels. In addition, after a long time, the stock managed to close above Rs 650 which is broadly positive. This also suggests that a strong uptrend rally is not ruled out from current levels. Traders can look to buy the stock with a target price of Rs 705 and stop loss of Rs 635.

    [Analyst: Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities]

    SBI Card | BUY | Target Price: Rs 720
    11/13

    SBI Card | BUY | Target Price: Rs 720

    On daily charts, the stock has formed promising Rounding bottom formation. After a strong uptrend rally from Rs 575 to Rs 695, the stock was witnessed correction till Rs 630. But, despite short term correction, the medium-term texture of the SBI Card is into the positive side. Sharp and consistence pullback rally from Rs 645 level, clearly indicates high chances of further uptrend is not ruled out. In addition, the strong bullish candle on monthly charts suggests the bulls are dominating the trend and the momentum is likely to continue in the medium-term. For the next few trading sessions, Rs 645 should be the sacrosanct level for the traders, trading above the same the stock can rise up to Rs 720. Stop loss for the trade is suggested at Rs 645.

    [Analyst: Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities]

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    Time Technoplast | BUY | Target Price: Rs 48
    12/13

    Time Technoplast | BUY | Target Price: Rs 48

    The stock has made a higher bottom formation pattern and is currently picking up momentum. The analyst anticipates further upward movement in the coming days. With the RSI confirming a trend reversal, the bias is positive. The analyst suggests buying and accumulating for an upside positional target of Rs 45-48, keeping the stop loss near Rs 34.

    [Analyst: Vaishali Parekh, Senior Technical Analyst, Prabhudas Lilladher]

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    Siemens | BUY | Target Price: Rs 1,250
    13/13

    Siemens | BUY | Target Price: Rs 1,250

    The stock has maintained a good base near Rs 990 levels and has picked up decently on multiple occasions. The analyst anticipates further upward movement in the coming days. The RSI is on the rise with a strong bias and with the chart looking attractive, the analyst suggests to buy and accumulate the stock for an upside positional target of Rs 1,200-1,250, keeping the stop loss near Rs 1,050.

    [Analyst: Vaishali Parekh, Senior Technical Analyst, Prabhudas Lilladher]

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