Tech picks: Patanjali Foods, Metropolis among 5 stocks to buy for robust returns in short term

​On the weekly chart, stock prices have confirmed a bullish reversal pattern breakout known as the Cup and Handle. This breakout occurred after a strong consolidation period of more than 18 months and is supported by a significant surge in volumes. Prices have also broken above the 200-week moving average, which previously acted as strong resistance.

​Rajesh Bhosale, Equity Technical Analyst, Angel One

​In recent weeks, the stock prices have been forming a strong base around the 50-EMA on the weekly chart. This week, a surge from this support level has led to a symmetrical triangle breakout, supported by a significant increase in volume.

​Rajesh Bhosale, Equity Technical Analyst, Angel One

The stock was recently trading in a range, which it broke out of on Friday. It trades above key moving averages like the 20-day and 50-day SMA. And the momentum readings like the 14-day RSI are in rising mode and not overbought, which augurs well for the intermediate uptrend to continue.

Subash Gangadharan, Senior Technical/Derivative Analyst at HDFC Securities

​On a weekly time frame, Bombay Dyeing has given a breakout of the rectangle pattern indicating a continuation of an uptrend. The security has closed near its high indicating buyers are keen to buy the security. The gradual volume increase supports the price action.

​Technical Research Analyst, Drumil Vithlani, Bonanza Portfolio

A short-term pattern pennant breakout is witnessed in Petronet on the upside, indicating an uptrend in security. An increase in volume during the breakout is indicating the buyer’s interest in the security.

Technical Research Analyst, Drumil Vithlani, Bonanza Portfolio
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