Technical picks: Maruti Suzuki, Hind Petro among 6 stocks that can rally up to 20% in short term

The blue-chip Nifty 50 and S&P BSE Sensex rose 2.2% and 2.02% last week, respectively, driven by gains in financials and metal stocks. Meanwhile, numerous analysts have provided their technical perspectives on several stocks, identifying potential gains of up to 20% in the near term. Here's a compilation of 6 tech picks:

The stock has reached its anchor VWAP support zone of 330-335 on its daily charts. Following an 18% rally in the first three trading sessions post-listing, it has now touched its 50% Fibonacci retracement level at 331.65.(Riyank Arora, Technical Analyst, Mehta Equities)

The stock has successfully broken above its swing-high resistance level of 485.50 and closed above it. With an RSI of 68 on the daily chart, the momentum appears strong, suggesting the stock could reach targets of 510 and higher.(Riyank Arora, Technical Analyst, Mehta Equities)

OIL is showing signs of a positive technical outlook. The stock has recently rebounded from the support levels around 638 which is also close to 20 Day EMA levels, demonstrating its ability to maintain price stability.The Relative Strength Index (RSI), a momentum indicator, is currently trading at 63.59 levels. This RSI reading suggests a moderate level of strength in the stock, without being in overbought territory. It implies that there is room for the stock to potentially gather further momentum.(Deven Mehata, Equity Research Analyst, Choice Equity Broking

MARUTI is presenting an intriguing technical landscape that suggests the potential for further growth. The stock's critical support level at 12,680 is closely aligned with its 20-day Exponential Moving Average (EMA). This alignment indicates historical buying interest at this level, providing a solid foundation for the stock's price stability and acting as a potential stop for anydownward movements.(Deven Mehata, Equity Research Analyst, Choice Equity Broking)

HINDPETRO is currently trading at 543.45 levels, displaying promising technical indicators. The stock recently experienced a breakout of a rounding bottom pattern, a bullish signal, supported by robust trading volumes. Moreover, the stock is trading above key moving averages, including its short-term (20-day), medium-term (50-day), and long-term (200-day) EMAs. This positioning indicates a bullish trend and confirms the stock's overall strength in the market.(Deven Mehata, 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 Economic Times)