Apollo Tyres, Wipro among 8 stocks that can gain up to 24% in short term

After witnessing some selling pressure last week, equity markets will take cues from the RBI policy outcome. Further, stock specific action is likely to continue with some major earnings including LIC, Adani Ports slated this week. Here are 8 technical picks from analysts that can offer gains up to 24%:

The stock has given a symmetrical triangle breakout and sustained above the critical moving average. The RSI is in a bullish crossover, suggesting that the uptrend is likely to continue.

Rupak De, Senior Technical Analyst at LKP Securities

The stock has formed a morning star candlestick pattern right at a support zone, indicating a potential bullish reversal. Furthermore, the stock has broken out from its 20-day moving average (20-DMA) with noticeable volumes, reinforcing the stock's strength and potential upward momentum.

Rupak De, Senior Technical Analyst at LKP Securities

After the recent pull back, the stock has been consolidating around the 61.8% Fibonacci level and has formed an inside bar doji on daily time frame indicating an attempt to bounce back.

Anand James, Chief Market Strategist at Geojit Financial Services

After hitting an all time high early last month, the stock has been witnessing profit booking making lower lows since then. We have seen an inside bar doji being formed near the horizontal support zone of 275.

On Thursday, the stock broke out of its recent trading range on the back of above average volumes. This augurs well for the uptrend to continue. Technical indicators too are giving positive signals.

Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities

Rattanindia Enterprises has shown relative strength last week. The stock has broken out of a narrow range on the back of above average volumes. Technical indicators are giving positive signals as the stock trades above the 20 and 50 week SMA.

Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities

Promoters held 28.42 per cent The midcap cements were buzzing last week and certain stocks witnessed price upmoves with good volumes. This stock has recent seen a consolidation above its ’89 DEMA’ support and now the momentum has turned positive.in the company as of 30-Jun-2023, while FIIs owned 13.65 per cent, DIIs 9.43 per cent.

Ruchit Jain, Lead Research, 5paisa.com

The stock had recently given a breakout from a long consolidation phase. Post the breakout, the prices rallied higher upto Rs. 1080 and has seen some pullback move in last few days. The volumes were good during the breakout while the corrections have not seen higher volumes.

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)