L&T Infotech among 6 stocks that can deliver handsome returns in short term

On the weekly time frame, the stock has decisively broken out above 'horizontal resistance' which was placed at the Rs 1,150 level. The stock consolidated above the breakout area for three months and this week it broke out above the downward-sloping trendline from this consolidation pattern. The breakout was accompanied by an increase in volumes, confirming participation at the breakout level. The weekly strength indicator RSI is above the 9EMA mark indicating positive momentum.

Recommended by: Axis Securities

On the weekly time frame, the stock has decisively broken out above the 'rounded bottom' pattern. The breakout was placed at Rs 350 level. This breakout was accompanied by an increase in volume, confirming participation at the breakout level. The stock is well placed above its 20,50,100 and 200 Day SMAs which reconfirms bullish sentiments. The daily and weekly strength indicator RSI is above its reference line indicating positive bias.

Recommended by: Axis Securities

Price action shows a major break out of a huge consolidation that happened between Rs 320- 250. The pattern is huge for almost nine months and the price has managed to break above the pattern. In the last 2 weeks, the price is emerging out of a small ascending triangle pattern. It is in a strong trend and it is an outperforming stock. On the upside, the price shows a potential to rally to Rs 400 and above that to Rs 440. Buy on any short-term dips to Rs 345-350. Hold for 4-6 weeks. Stop below Rs 330.

Recommended by: Manish Shah, Independent Trading Coach

Bector Foods has seen a substantial recovery from the lows in July 2022. The price recovered from around Rs 250 to the current level of around Rs 400. The price is now in a confirmed uptrend. Price also saw a golden cross around the second week of September. Bector Foods seems to be on a long-term revival. Buy for a rally to Rs 430 and above that to Rs 520. Buy with a 4-6 week view. Put a stop below Rs 350.

Recommended by: Manish Shah, Independent Trading Coach

In the last couple of months, the stock has formed a ‘Higher Top Higher Bottom’ structure and has gradually moved higher. Recently, the prices consolidated above their 20-day EMA and have now given a breakout from the previous swing high and the trendline resistance. The volumes are good along with price up move while the RSI oscillator is indicating a positive momentum. Hence, short-term traders can look to buy the stock around the current market price of Rs 2,325-2,300 for potential targets of around Rs 2,400 and Rs 2,450. The stop loss for long positions should be placed below Rs 2,240.

Recommended by: Ruchit Jain, Lead Research, 5paisa.com

The IT space has seen a gradual pullback move in the last few weeks and this stock has seen some consolidation below its 200 DEMA resistance recently. However, prices are on the verge of a breakout above its hurdle and the RSI oscillator indicates a positive momentum. Thus, we could see an up move in the stock in the near term and hence, short-term traders can look for buying opportunities. Hence, we advise traders to look for buying opportunities in the stock in the range of Rs 4,840-4,850 for potential short-term targets around Rs 5,050 and Rs 5,200. The stop loss on long positions should be placed below Rs 4,640.

Recommended by: Ruchit Jain, Lead Research, 5paisa.com

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)