12 stocks that analysts say can offer impressive returns in 3-4 weeks

After showing a minor weakness in the last couple of sessions, the stock witnessed a decent up move on Friday and closed higher. The formation of larger consolidation type or triangle type formation was observed on the daily chart. This formation can be considered an important development for the stock and a sustainable move above Rs 322 can open a sharp upside breakout in the near term. The volume and RSI indicates a bullish trend ahead. The analyst has a target of Rs 350 on the stock for the next 3-4 weeks. A stop loss is suggested at Rs 290.

(Analyst: Nagaraj Shetti, Technical Research Analyst, HDFC Securities)

Alembic Pharmaceuticals has been moving within a larger consolidation pattern over the last few months, as per the weekly timeframe chart. Currently, the stock is making an attempt to breakout of the consolidation pattern at Rs 1,020-1,025 levels. Weekly 14-period RSI has started to turn up from upper Rs 60. This pattern of RSI could mean further strengthening of the upside momentum in the stock price. Volume is also rising with the up move. The analyst recommends traders to buy the stock and wait for an upside target of Rs 1,100 in the next 3-4 weeks. He also suggests placing a stop loss at Rs 938.

(Analyst: Nagaraj Shetti, Technical Research Analyst, HDFC Securities)

The stock witnessed a decent correction recently and is bottomed near Rs 2,950 level, indicating a momentum pick up to improve the bias and reverse the trend. The RSI indicator has also indicated a reversal from the oversold zone to signal a buy. As the chart looks attractive, the analyst is bullish on Hero Motocorp for the short-term with a target of Rs 3,300-3,350 and a stop loss at Rs 2,950.

(Analyst: Vaishali Parekh, Senior Technical Analyst, Prabhudas Lilladher)

The stock has witnessed a higher bottom formation pattern in the daily chart, taking the support level near Rs 168, and indicating indicating a momentum pick up to improve the bias and reverse the trend. The RSI indicator has also indicated a reversal to signal a buy to make the chart look attractive. The analyst suggests traders to but the stock the stock with a target of Rs 195-210 while keeping a stop loss at Rs 168.

(Analyst: Vaishali Parekh, Senior Technical Analyst, Prabhudas Lilladher)

On the daily charts, Maruti has formed an expanding triangle kind of formation. Post the sharp pullback rally, the stock is hovering between Rs 6,800-7,200 price range. Positive parabolic SAR series on daily charts and modest volume activity near important support level suggests a strong possibility of fresh uptrend from current levels. In addition, the stock is trading near 20 and 50-day SMA with higher bottom formation which also supports the uptrend. For positional traders, Rs 6,780 should be the key level to watch out for. The analyst expects the uptrend wave to continue up to Rs 7,550.

(Analyst: Shrikant Chouhan, Kotak Securities)

Britannia has formed a double bottom kind of formation after a sharp correction. Currently, the stock is consolidating between Rs 3,450 to Rs 3,600. The Doji candlestick reversal formation on monthly charts suggests bears have started losing interest. Hence, if the stock consistently manages to trade above Rs 3,510, the analyst expects a quick pullback rally from current levels. In addition, after a long time, the stock is trading near its 50-day SMA along with modest activity that suggests a fresh uptrend rally is not ruled out from current levels. The analyst has a target of Rs 3,890 on the stock; stop loss is suggested at Rs 3,510.

(Analyst: Shrikant Chouhan, Kotak Securities)

After a pullback rally from Rs 200 to Rs 230, the stock is hovering in the Rs 220-230 price range. However, the medium term texture of the stock is very strong and a higher bottom formation on the daily and weekly charts indicate a strong possibility of another uptrend wave. Strong bullish candle on the daily charts along with positive parabolic SAR series suggests further uptrend. Unless it is trading below Rs 220, positional traders can retain an optimistic stance and look for a target of Rs 245. The analyst suggests fresh buying can be consider now and on dips between Rs 230 and 225, with a stop loss at Rs 220.

(Analyst: Shrikant Chouhan, Kotak Securities)

On the daily chart, the levels around Rs 180 have been acting as a stiff hurdle for more than four times in the last five months. Prices have now eventually broken above the same, confirming a bullish pattern breakout known as ‘Saucer’. The said breakout is witnessed with a good increase in volume and a strong bullish candle. Moreover, ADX line turning up from 11 levels hints towards the start of a new trend and with +DI comfortably above –DI suggests the start of an uptrend. In addition, prices are well above key moving averages and oscillators are placed in positive territory supporting the buy call. With all the above technical evidence, the analyst senses a strong outperformance in this counter and hence, recommends a buy at current levels for a target of Rs 205 over the next 14 sessions. A stop loss should be placed at Rs 176.

(Analyst: Sameet Chavan, Chief Analyst Technical and Derivatives, Angel Broking)

After gyrating within two lines (one descending and the other horizontal line) for the last three months, the stock has not breached the descending line confirming a ‘Descending Triangle’ bullish breakout. The said descending line acted as a stiff hurdle for more than three times and a breakout above the same with huge increase in volume indicates a change in polarity. In addition, prices have closed above the higher range of Bollinger band, that indicates a trending post its recent consolidation phase. The analyst recommends a buy in this counter at current levels for a target of Rs 185 over the next 14 sessions. He suggests placing a stop loss at Rs 153.

(Analyst: Sameet Chavan, Chief Analyst Technical and Derivatives, Angel Broking)

This counter appears to be consolidating within a range of Rs 57-48. However, Thursday’s rally is hinting that this counter may be on the verge of a breakout. The initial target shall remain Rs 57 as long as it sustains above Rs 48. On a close above Rs 57, a bigger target of Rs 62 can be expected. Hence, positional traders are advised to buy into this counter for a target of Rs 57. Stop loss suggested for the trade is a close below Rs 48.

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

The narrow range of the last 5 trading sessions with positive closes is hinting at some sort of accumulation in this counter. Moreover, it witnessed sharp intraday price hike on massive volumes last Friday, though it gave up all intraday gains by the end of the day. Hence, sustaining above Rs 183 level, it should embark on a pullback mode sooner than later. In such a scenario, it should ideally target Rs 220. However, a sharp correction can be witnessed on a close below Rs 183. As the risk reward ratio appears favourable, the analyst recommends positional traders to buy into this counter and look for a target of Rs 217 with a stop loss at Rs 183.

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

This counter cleared its resistance level of 200-day moving average on relatively much higher volumes on November 24. Since then, it seems to be on the consolidation mode for the last 3 trading sessions. Hence, sustaining above Rs 336, it can initially head towards Rs 387. However, on a close above Rs 387, much bigger targets of around Rs 436 can’t be ruled out. For the time being, positional traders are advised to buy into this counter for an initial target of Rs 387, with a stop below Rs 336 on closing basis.

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