Markets staged a recovery during last week, supported by encouraging corporate earnings and renewed buying interest in heavyweight stocks. In the upcoming week, markets will remain focused on the September-quarter earnings season, key economic data releases and global developments in the coming week. Investors will assess corporate performance for signs of sustained revenue growth, margin resilience and improving demand.
In this context, here are 6 stock recommendations for healthy returns in short term:
HCL Tech has signaled a potential trend reversal, indicated by a consolidation breakout on its Daily charts. A golden crossover of its 20EMA, above its 200 DSMA, indicates strong tailwinds of momentum in the short term. At the same time, a super pattern bullish breakout on its Point and figure chart, potentially underscore the bullish undertone. On its smaller time frame 0.5% Renko charts, the stock has triggered a bullish swing breakout, offering a risk adjusted opportunity in a sharply trending stock.
Hitesh Rathi, Technical Analyst - Equity & Derivatives, Angel One
Samavardhana Motherson has a confluence of support at the Rs 150-148 band, marked by the lows of a bullish anchor column on its P&F charts, and a prior price breakout on its Candlestick charts. This presence of demand in this zone is validated by the multiple bullish formations from the same price zone, like the bullish 100% pole and weak breakout, indicating that strong demand continues to remain present at lower levels.