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

The stock has formed an upside breakout at Rs 2,500 on the weekly chart, and appears to be headed higher. It has moved above the support of Rs 2,400. The weekly 14-period RSI is giving a positive signal. Buying can be initiated in Torrent Pharma on dips towards Rs 2,410 for a target of Rs 2,780 in the next 3-4 weeks, with a stop loss at Rs 2,360.

(Nagaraj Shetti, Technical Research Analyst, HDFC Securities)

The stock price has moved up promisingly from its lows, and looks set to stage an upside breakout in the range of Rs 550-560 in the near term. A larger degree of higher highs and lows can be seen in the stock, indicating an intact medium-term uptrend. Gujarat Gas can be bought on dips towards Rs 517 for a target of Rs 592 in the next 3-4 weeks, with a stop loss at Rs 502.

(Nagaraj Shetti, Technical Research Analyst, HDFC Securities)

The sideways rangebound action in the stock since January 2021 has resulted in a bullish ascending triangle pattern, which is considered a trend continuation pattern. SAIL needs to break out from the resistance at Rs 82-83 for the trend to continue. Once a breakout happens, the stock should rally towards Rs 100, and then Rs 110. Investors can buy on a close above Rs 83 and hold for 4-6 weeks with a stop loss at Rs 72.

(Analyst: Manish Shah, Trader and Trading Coach, Niftytriggers.com)

A decline from the high of Rs 4,006 suggests a trend reversal, as the breakout of the trendline was on high volumes and a wide range candle. On the weekly chart, the entire sideways action can be constructed within a descending triangle. Britannia should rally to Rs 3,850, and then Rs 4,200 over the next 6-8 weeks. Investors should keep a stop loss below Rs 3,370.

(Analyst: Manish Shah, Trader and Trading Coach, Niftytriggers.com)

The stock is trading above its 200-exponential moving average, indicating that it is likely to continue a positive long-term trend. Recently, the scrip has bounced back from its short-term support of 50-DMA, and is currently trading into a rising channel. A 'buy' is recommend above Rs 875 for a target of Rs 1,020 from a medium-term perspective, with a stop loss at Rs 790.

(Analyst: Ashis Biswas, Head of Technical Research at CapitalVia Global)

The stock currently appears to be in an uptrend, and has been trading above both its short- and medium-term moving averages. Technical indicator RSI is seen hovering around its short-term oversold zone, indicating a potential reversal in the coming days. A 'buy' is recommended for a target of Rs 134 from a medium-term perspective, with a stop loss at Rs 105.

(Analyst: Ashis Biswas, Head of Technical Research at CapitalVia Global)

The stock has corrected its previous upmove after hitting an all-time high in March. It is currently trading near the support of 55-DMA, and can be expected to bounce. A 'buy' is recommended on a breakout above Rs 1,780 for a target of Rs 1,950 with a stop loss at Rs 1,690.

(Analyst: Ashis Biswas, Head of Technical Research at CapitalVia Global)