9 stocks that analysts say can give solid returns in short term

The stock has been in a gradual rising trend and is currently moving above the 100 DMA, showing a positive bias. Going ahead, the analyst expects an upward rise. The RSI indicator has also consolidated to maintain a positive bias. With the chart looking good, she suggests to buy and accumulate this stock for an upside target of Rs 300-310, keeping the stop loss of Rs 245.

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

The stock has maintained a strong base near Rs 145 level and has picked up momentum with a potential to carry on with the move to further upside. The RSI indicator has also indicated strength to maintain a positive bias. With the chart looking good, the analyst anticipates further upside move in the coming days and suggests to buy this stock for an upside target of Rs 185-200, keeping the stop loss of 145.

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

The stock has formed a double bottom formation post-short-term price correction. Currently, the stock is consolidating between Rs 1,650 to Rs 1,740. The stock has been consistently taking support near 50-day SMA and the texture of the charts suggest that if it continues to trade above the same, then uptrend wave is likely to continue in the short run. Hence, if the stock consistently manages to trade above Rs 1,650, we can expect a quick pullback rally up to Rs 1,830. Stop loss suggested at Rs 1,650.

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

Over the last couple of months, the stock has witnessed a price correction. The stock corrected over 23 per cent from its previous resistance level. On a short-term time frame, it is in the oversold zone and daily and weekly pattern indicate high chances of price reversal from current levels. In addition, oversold momentum indicators on daily charts suggest fresh uptrend wave from current levels. The stock took a strong support near Rs 1,210 level; sustaining above the same, the stock can expect quick pullback rally up to Rs 1,350. Stop loss suggested at Rs 1,210.

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

Post-short-term correction, the stock has formed strong reversal formation on daily and weekly charts. After a sharp reversal, the stock is hovering in the range of Rs 490 to Rs 520 but is maintaining its higher bottom series which clearly suggest that the short-term uptrend is still intact and reversal wave is likely to continue in the short-run. Unless the stock is trading below Rs 495, positional traders retain an optimistic stance and look for a target of Rs 550. Fresh buying can be considered now and on dips, if any, between Rs 515 and Rs 505 levels with a stop loss below Rs 495.

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

Pre-Covid, this was one of the outperforming midcap counters, however, along with the broader markets selloff during February-March, this counter was hit hard, falling from an all-time high of Rs 2,079 to Rs 704 levels. In the last few months, the stock has been volatile. If we draw a trend line, joining the recent peak to peak and another trend line joining trough to trough, the stock forms a structure of ‘Descending Triangle’. The prices have closed just near the bullish breakout level of this pattern with a bullish candlestick. RSI has already crossed the previous high supporting the pre-emptive breakout. Recently, the prices also witnessed a gap up opening above the 200SMA that can be taken as a breakaway gap, and this gap is now acting as strong support. Looking at all the above technical evidence, the analyst senses a strong upside in the near-term and hence recommends a buy at current levels for a target of Rs 1,453 over the next 14 sessions. The stop loss should be placed below Rs 1,212.

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

This stock is in a strong uptrend, continuously moving in a ‘Higher Top Higher Bottom’ price formation. Recently, after a sharp rally from the March lows of Rs 178 to Rs 508, the stock prices went into a consolidation phase for the last two months. Eventually, the stock is now witnessing a continuation bullish breakout known as ‘Symmetrical Triangle’ supported with a good increase in volume and bullish candlestick. Since the prices are trading near its all-time high levels, they are comfortably placed above key moving averages. RSI is placed above 60 across all major time frames (daily, weekly and monthly) indicating an overall bullishness in the counter. Going with all the above observation, the analyst senses the prices are likely to witness a positive momentum and hence recommends a buy at current levels for a target of Rs 549 over the next 14 sessions. The stop loss for the same can be placed below Rs 474 level.

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

After correcting from a high of Rs 830 touched in February, Relaxo found support around the Rs 500 levels in March. The stock has since then rebounded and gradually been making higher tops and higher bottoms for the last several months. The stock broke out of the Rs 610-693 range on the back of above-average volumes and continued to move higher last week too. This augurs well for the intermediate uptrend to continue. Technical indicators are giving positive signals as the stock trades above the 20-day and 50-day SMA. Daily and weekly momentum readings are in rising mode and not overbought. The analyst recommends a buy between Rs 710 and Rs 730 with a stop loss at Rs 680 and a target of Rs 830.

[Analyst: Subash Gangadharan, Technical Research Analyst, HDFC Securities]

MAS Financial Services has been consistently moving higher and making higher tops and higher bottoms for the last several months after hitting a low of Rs 443 in March. Last week, the stock broke out of the Rs 765-900 trading range on the back of above-average volumes. With the intermediate and long term technical setups looking positive, this augurs well for the intermediate uptrend to continue. Technical indicators too are giving positive signals as the stock trades above the 20-day and 50-day SMA. The 14-week RSI is in rising mode and not overbought. The analyst recommends a Buy between Rs 920 and Rs 950 with a stop loss at Rs 840 and target of Rs 1,170.

[Analyst: Subash Gangadharan, Technical Research Analyst, HDFC Securities]