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

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

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

Price Target: Money-making ideas: Duration of the fast flow surge in COVID-19 cases, the resultant stricter restrictions, and risks from rising bond yields. While it has heightened volatility in the domestic stock market, analysts say the focus going forward is going to be more and more stock specific. 

Yet, here are a few stocks that analysts say hold the promise of making good money for investors in the near to short term. Check them out.

1. India Cement | BUY | Price Target: Rs. 181

India Cement has formed a higher bottom formation post-short-term price correction. Now, the stock is consolidating between Rs. 162 to Rs. 170. The stock has been consistently taking support near the 50-day SMA and the texture of the charts suggests trading support near the 50-day SMA. The texture of the charts suggests trading above the same then uptrend wave likely to continue in the short run. Hence, if the stock succeeded to trade above Rs. 162, we can expect one more uptrend rally up to Rs. 181. Stop-loss should be at Rs. 162.

2. SBI | BUY | Price Target: Rs. 395

After a strong uptrend reaction, the stock witnessed a short-term correction. However, the medium-term texture of the stock is still positive. SBI took the support near an important retracement level and is currently trading near 50 days SMA with strong candlestick formation. While daily and weekly structure suggest reversal wave will continue in the near term if it manages to trade above Rs. 355, which should be stop loss. Target should be at Rs. 395.

3. HCL Tech | BUY | Price Target: Rs. 1,075

On the weekly charts, after a long time stock closed above Rs. 980 resistance which is broadly positive. On daily stock has formed higher bottom formation near 50 Day SMA which supports short term uptrend. In addition, on weekly charts, positive Parabolic SAR series along with bullish candle on weekly charts also suggest further uptrend in the near future Rs. 965 should act as strong support and stop loss for the stock and sustain above the same can take it to Rs. 1,075.

4. Happiest Minds | BUY | Price Target: Rs. 655

Moreover, after five months of the interval, volumes started picking up rapidly in February and the stock surged more than 70% to grab the eyeballs. This was followed by a brief phase of consolidation which seems to be over now. On Thursday, the stock price finally managed to blow out as we witnessed a 10% rally with sizable volumes. While the recent price chart displays a ‘Bullish Flag’ breakout in this stock. We recommend going around Rs. 580 for a target of Rs. 655 in the coming days. The strict stop loss can be placed at Rs. 542.

5. Prakash Industries | BUY | Price Target: Rs. 94

In the last couple of sessions, the stock started rising along with towering volumes, indicating tremendous buying interest in the stock. In this course of action, it has managed to surpass the Rs. 75 mark convincingly after nearly two years. Considering the broader degree of price action, this probably is the beginning of the multi-month rally in this counter. We recommend going long on a small dip towards Rs. 78 for a couple of short-term targets of Rs. 88 and Rs. 94. The strict stop loss can be placed at Rs. 72.20.

6. Sun Pharma | BUY | Price Target: Rs. 632

This stock has been consolidating in a ‘Downward Sloping Channel’ with no major destruction in prices. Now, after finding some support around the 89-EMA, the stock prices are about to move higher. Due to Thursday’s price up move, it’s at the threshold of the higher trend line of the channel. Looking at the positive placement of the momentum oscillators as well as few key moving averages, the possibility of it confirming the breakout is quite high. Traders are advised to go long for a target of Rs. 632. The stop loss can be maintained at Rs. 596.50.

7. Balaji Amines | BUY | Price Target: Rs. 2,600

Conversely, the 200 DMA of the stock is continuously rising since December 2020. The Super Trend Indicator is continuously in Positive mode. Recently, after making a bottom at Rs. 1,558, taking support of up gaps is showing signs of possible up move. Observing the trend in the stock, the stock has the potential to test Rs. 2,200-2,600 levels in the coming days. While if the stock corrects during the move, it can be added in the 1,710-1,340 range. Stop Loss at Rs. 1,275 has to be observed in the trade.

8. Tata Chemicals | BUY | Price Target: Rs. 1,300

The stock traded in the consolidation Zone for three months, absorbing the supply, making higher bottoms & higher tops in the up move with few up gaps. Bollinger bands are entering the narrow zone, and there is a possibility of positive price breakouts. The stock has closed above its all short-term averages. While the stock has the strength to achieve a target of 1,000-1,300 in the coming days. The intermediate buy area is 715-560. Stop loss of Rs. 535 on a closing basis is to be observed in the trade.

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