The equity markets ended last week on a low due to profit booking at higher levels. Analysts suggest that sector-specific developments this week could be influenced by the outcome of the GST meeting.
"The market is expected to trade sideways next week due to the absence of strong buying or selling triggers," said Pravesh Gour, Senior Technical Analyst at Swastika Investmart.
In this setup, here are 8 stocks that you can consider buying for robust returns in the short term.
PI Industries witnessed a decisive breakout in the last trading week, soaring over 3%. The counter has witnessed very strong traction from the cluster of its short-term moving averages after consolidating near the 200-SMA and seems poised to continue its northward move in the comparable period.Osho Krishan, Senior Analyst - Technical and Derivatives, Angel One.
PVR Inox has seen a volume-backed resurgence after the substantial consolidation seen in the last couple of weeks near its key support short-term EMAs. Furthermore, the counter witnessed a positive crossover of 20-DEMA over 50-DEMA, construing a positive development.Osho Krishan, Senior Analyst - Technical and Derivatives, Angel One.
The stock has given a flag pattern breakout on the daily chart, suggesting a rise in optimism. It has been sustaining above the critical moving average. The RSI is in a bullish crossover and rising. Over the medium term, the stock might move smartly towards 530. On the lower end, support is placed at Rs 470.
Rupak De, Senior Technical Analyst at LKP Securities
The stock has given a positive breakout after days of sideways consolidation, which indicates a rise in optimism. Besides, the price has been sustained above the critical moving average. The RSI is in a bullish crossover and rising. Over the medium term, the stock might move smartly towards Rs 60. On the lower end, support is placed at Rs 49.Rupak De, Senior Technical Analyst at LKP Securities
The stock has given a consolidation breakout on the daily chart, suggesting rising optimism among investors. Besides, the stock has moved above a critical moving average. The RSI is in a bullish crossover. In the near term, the stock might move towards 440; while a support is placed at 394.
The stock has recently broken out of range on the daily chart with a significant increase in trading volume, indicating a potential breakout. If the price manages to close above the Rs 410 level, it may have the potential to reach short-term targets of Rs 500. On the other hand, immediate support levels are located at Rs 380.
The stock has recently broken out of range on the daily chart with a significant increase in trading volume, indicating a potential breakout. If the price manages to close above the Rs 192 level, it may have the potential to reach short-term targets of Rs 220 and Rs 247.
Mandar Bhojane, Equity Research Analyst, Choice Equity Broking
The stock has recently broken out of the daily trend line with a significant increase in trading volume, indicating a potential breakout. If the price manages to close above the Rs 510 level, it may have the potential to reach short-term targets of Rs 550. On the other hand, immediate support levels are located at Rs 485. These levels can be considered as opportunities to buy on dips.Mandar Bhojane, Equity Research Analyst, Choice Equity Broking(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)