6 stocks analysts suggest to buy for solid returns in near-term

On the daily time frame, the stock has decisively broken out of four months rounding bottom formation at Rs 2,850 levels on a closing basis. This buying support was observed from 20 and 100 day SMA’s which remains a crucial support zone. On the daily and the weekly time frame, the stock has entered an up trend forming a series of higher tops and bottoms forming a series of higher tops and bottoms. The stock is well placed above its 20, 50,100 and 200 day SMA which reconfirmed the bullish trend. The daily and weekly strength indicator RSI is in bullish mode along with positive crossover which supports rising strength in the near term.

Recommended by: Axis Securities

The stock has witnessed a decent pullback from the support zone of Rs 670 levels and has moved above the significant 50 EMA level of Rs 768, showing prominent strength with upside movement anticipated in the coming days. The RSI has indicated a reversal from the oversold zone and is on the rise with immense potential on the upside. With the chart looking attractive, we suggest buying this stock for an upside target of Rs 980 keeping the stop loss of Rs 740.

Recommended by: Technical Research Desk, Prabhudas Lilladher

On the weekly time frame, the stock has observed a one-year “down-sloping trend line” breakout at Rs 3250 levels along with huge volumes. The stock is well placed above its 100-day SMA (Rs 3322) which remains immediate support. The positive crossover of 20 and 50-day SMA signals bullish sentiments in the near term. On the daily time frame, the stock has entered an up trend forming a series of higher tops and bottoms. The daily and weekly strength indicator RSI is in positive terrain and sustaining above the 50 mark indicating sustained strength. The holding period is 3 to 4 weeks.

Recommended by: Axis Securities

The stock has maintained the support zone near the trendline support of Rs 343 levels and is witnessing a consolidation phase with improvement in the indicators. The RSI has indicated improvement and has the potential to rise further in the coming days. We suggest buying and accumulating this stock for an upside target of Rs 410, keeping the stop loss near Rs 330 levels

Recommended by: Technical Research Desk, Prabhudas Lilladher

On the weekly chart, the stock has confirmed a ten-month “descending triangle” breakout around Rs 225 levels on a closing basis. Rising volumes at breakout zones indicate increased participation. The stock is well placed above its 20, 50, 100 and 200-day SMA and sustaining above the same which reconfirms bullish sentiments. The daily “band Bollinger” buy signals indicate increased momentum. The daily and weekly strength indicator RSI continues to remain bullish and quotes above 50 mark which signals sustained and rising strength.

Recommended by: Axis Securities

The stock has taken support near the trendline zone of Rs 400 levels and indicated a decent pullback to witness some consolidation near the Rs 440-450 zone with the overall trend remaining intact. The RSI indicator is well placed and has indicated strength with further upside potential in the coming days. We suggest buying this stock for an upside target of Rs 540, keeping the stop loss near Rs 405

Recommended by: Technical Research Desk, Prabhudas Lilladher