Tech Mahindra and Dr Reddy Labs are among 7 stocks that traders can pick for short term gains. While Tech Mahindra has formed a rounding bottom chart pattern and it is in a gradual up move.
The technical indicators also indicate a further uptrend from current levels, making TechM a favourable stock in terms of risk and reward perspective. Tech Mahindra | Buy | Target: Rs 1,600.
Dr Reddy’s returned from significant help of Rs 3,654 as it relates to a previous intermediate low tested in May 2020. The stock has from that point forward been reliably making higher tops and higher bottoms. Dr Reddy Labs | Buy | Target: Rs 4,470.
Along with TechM and DRL other stocks that traders can pick for strong returns are Radico Khaitan | Buy | Target: Rs 1,020, Southern Petrochemical Industries | Buy | Target: Rs 70, ICICI Prudential Life | Buy | Target: Rs 560, Chambal Fetilisers | Buy | Target: Rs 450, Oberoi Realty | Buy | Target: Rs 980.
Radico Khaitan | Buy | Target: Rs 1,020
A ton of mid-and smallcap counters have taken a U-turn after recent hammering. This stock finished its more significant level retracement around Rs 800 and subsequent to shaping its base for almost three weeks, the stock prices at long last took off on Thursday. This value breakout is joined by enormous volumes, showing restored purchasing interest in the stock.
Southern Petrochemical Industries | Buy | Target: Rs 70
SPIC has been one of the outflanking stocks here for the most recent few years. Truth be told, it showed gigantic versatility in the recent extensive market annihilation and presently when things have begun to stabilize a little, this counter showed its strength by giving a huge upsurge to happen to its congestion zone.
ICICI Prudential Life | Buy | Target: Rs 560
In the wake of amending from a high of Rs 724 contacted in September 2021, ICICI Prudential Life Insurance tracked down help around Rs 430 levels in March. These help levels likewise relate to past middle lows of the stock tested in April 2021, implying a significant double bottom pattern. The stock has from that point forward bounced back and made higher bottoms in the course of the last couple of sessions.
Chambal Fetilisers | Buy | Target: Rs 450
On a week by week scale, the counter is into a rising channel chart formation with higher high and higher low series patterns. After a sharp upswing rally, the counter seen a touch of selling pressure however in the long run continued on the higher side in the wake of taking help of the pattern line.
Oberoi Realty | Buy | Target: Rs 980 For the most recent few months, the stock is exchanging a rangebound mode post its amazing up move from Rs 300 to Rs 1,000. Nonetheless, on the day to day chart, the stock has shaped an inverse head and shoulder graph pattern and it is exchanging close to the neck area support zone. The surface of the counter is showing a new leg of upward momentum from current levels.