8 stocks that analysts say can give solid returns over 2-3 weeks

The stock is in a secular uptrend and forming a higher peak and higher trough in all time frame. After a strong rally in June-July, it entered a consolidation phase in the last seven weeks thus forming a higher base for the next leg of the up move. The stock is currently placed at the cusp of the breakout above the last seven weeks range and thus offers fresh entry opportunity for the target of Rs 1030 as it is the 161.8% external retracement of the recent consolidation (Rs 985-912); maintain a stoploss of Rs 944 on a closing basis.[Analyst: Dharmesh Shah, Head – Technical, ICICIdirect]

The stock after a breather over the last few days has resumed fresh up move taking support around Rs 135-140 range. It is at the confluence of the lower band of the rising channel placed since July low and the rising 20 days EMA (currently at 138) which has acted as major value area since May 2020 low. Hence, the risk-reward looks favourable for the next leg of up move towards Rs 159 levels being the 123.6% external retracement of the recent breather; maintain a stop loss of Rs 141 levels on a closing basis.[Analyst: Dharmesh Shah, Head – Technical, ICICIdirect]

The stock has recently generated a breakout above the last four months triangular consolidating pattern signalling a resumption of the fresh up move and offers fresh entry opportunity. The weekly MACD has entered the positive territory and is seen sustaining above its nine period’s average, supporting the positive bias in the stock. We expect the stock to continue with its positive momentum and head towards Rs 1,580 levels being the confluence of the high of April 2020 and the 80% retracement of the entire decline of March 2020; maintain a stop loss at Rs 1,415 level on a closing basis.[Analyst: Dharmesh Shah, Head – Technical, ICICIdirect]

The stock has provided a breakout from the inside bar pattern i.e. a “Harami Cross” candlestick pattern on the daily charts. This is a bullish reversal pattern and hence the short term trend looks positive. The hourly momentum indicator MACD has provided a buy crossover with a positive divergence. A minimum of 38.2% retracement will get it to Rs 940 levels. One can buy it for the target of Rs 940 with the stop loss of Rs 908.[Analyst: Jay Anand Thakkar, CMT, Vice President & Head of Equity Research, Marwadi Financial Services]

The stock has provided a breakout from the inside bar pattern which here is a “Harami” candlestick pattern. The stock has fallen in a five-wave declining structure and a minimum of 38.2% retracement will get it to Rs 1,802 whereas a 50% retracement will get it to Rs 1,826. The hourly momentum indicator MACD has provided a buy crossover. One can buy this for a counter-trend movement with a stop loss of Rs 1,742.[Analyst: Jay Anand Thakkar, CMT, Vice President & Head of Equity Research, Marwadi Financial Services]

The stock has provided a breakout from the sideways consolidation i.e. a triangular pattern which was been formed in its wave 4 and wave 5 up move and has been ensued with this breakout. The momentum indicator MACD is well in the buy mode, hence, the risk to reward is absolutely in the favor of the bulls. One can buy this stock for a target price of Rs 450 and stop loss of Rs 409.[Analyst: Jay Anand Thakkar, CMT, Vice President & Head of Equity Research, Marwadi Financial Services]

The recent downward correction in this stock price seems to be over as the stock price has witnessed a sharp upside bounce in this week. The stock price has moved up from the crucial up trend line support of Rs 112, as per the concept of change in polarity in this week. Volume has started to expand during up move and weekly RSI shows positive indication. Buying can be initiated in Motherson Sumi at CMP, add one can add more on dips down to Rs 116, wait for the upside target of Rs 134 in the next 3-4 weeks. Place a stop loss of Rs 111.[Analyst: Nagaraj Shetti, Technical Research Analyst, HDFC securities]

After showing downward correction in the previous few weeks, the stock price has witnessed an upside bounce in the last week and showed follow-through up move this week. The analyst observed a larger degree of positive sequence like higher tops and bottoms, which unfolded over the last few weeks. The stock price has moved up after forming a new higher bottom at Rs 911. Volume and momentum oscillator shows a positive outlook for the stock ahead. One may look to buy Lupin at CMP, add further on dips down to Rs 965 and wait for the upside target of Rs 1,095 in the next 3-5 weeks. Place a stop loss of Rs 939.[Analyst: Nagaraj Shetti, Technical Research Analyst, HDFC securities]