Infosys, IRCTC among 6 stocks that can deliver strong gains in near term

After the corrective phase of the last one quarter, the counter is witnessing a recovery from the lower levels. On the daily charts, the counter has formed a higher bottom series and it has given a range breakout. Therefore, closing above the resistance line indicates further bullish momentum to continue from the current levels.


Analyst: Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities

On the weekly scale, the counter is in a rising channel chart formation with a higher high and higher low series patterns. After a sharp uptrend rally, the counter comfortably closed above its previous swing high. In addition, on daily charts, the counter has formed a bullish continuation chart formation, which indicates a strong up move to persist in the near term.


Analyst: Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities

HEG has corrected from a high of Rs 2629 touched in October 2021. The stock recently found support around Rs 890 levels which roughly coincides with previous intermediate lows of the stock. The stock has since then bounced back and reversed its recent downtrend. The reversal was confirmed when the stock took out the recent swing high of Rs 1169 on Friday on the back of above-average volumes. Technical indicators are giving positive signals as the stock has closed above the 20-day and 50-day SMA. Momentum readings like the 14-week RSI are in rising mode and not overbought.


Analyst: Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities

IRCTC showed relative strength last week. In the process, the stock has broken out of a narrow range on the back of above-average volumes. Technical indicators are giving positive signals as the stock has closed above the 20-day and 50-day SMA. Momentum readings like the 14-day RSI too are in rising mode and not overbought, which implies the potential for further upsides.


Analyst: Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities

Throughout this year, this stock has been sulking as we witnessed nearly 50% retracement of the previous up move to test the Rs 350 mark. Fortunately, the corrective phase ended there and after a brief consolidation, the stock prices started moving upwards. The stock finally seems to have found its mojo back as we witnessed a decisive price and volume breakout on Friday from the hurdle of Rs 417. Technically, the recent price configuration can be termed as a ‘Bullish Flag’ breakout.


Analyst: Sameet Chavan, Chief Analyst -Technical and Derivatives, Angel One

As far as Nalco is concerned, it was slow to react and did not move in tandem with some of its larger peers. But considering Friday's price action, we expect the stock to stage some catch-up moves in this week. Traders are advised to buy for a near-term target of Rs 85. The strict stop loss needs to be placed at Rs 73.


Analyst: Sameet Chavan, Chief Analyst -Technical and Derivatives, Angel One