Stocks to buy: ITC, Bajaj Auto, RVNL, IRFC, Divi's Labs among 10 stocks that can rise 9-17% in next 3-4 weeks

While the ongoing quarterly numbers of India Inc. are the cardinal absorption constituent of the market, this week's Fed gathering is besides a captious origin that volition power marketplace mood.

There is overmuch uncertainty connected the complaint chopped beforehand arsenic ostentation remains sticky, portion the first-quarter US GDP information showed maturation is losing steam successful the world's largest economy. The marketplace seems to person reasonably discounted the anticipation of nary complaint cuts by the Fed successful the adjacent future.

"Data from the US reflects the weakening of the US economy. Q1 GDP maturation has travel little than expected astatine 1.6 per cent but the Fed is improbable to chopped rates successful the adjacent mates of meetings since ostentation continues to stay hot. The halfway PCE has jumped to 3.7 per cent against the anticipation of 3.4 per cent, leaving the Fed successful nary presumption to chopped rates successful the adjacent future," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

The dollar's sustained emergence against its large planetary peers, overseas superior outflow and geopolitical tensions are expected to support the marketplace sentiment debased backmost home.

Market experts suggest picking lone prime stocks for the agelong word portion for the abbreviated term, 1 tin look astatine the stocks with beardown method indicators. Based connected the recommendations of respective experts, present are 10 stocks that tin emergence 9-17 per cent successful the adjacent 3-4 weeks. Take a look:

Jigar S. Patel, Senior Manager of Equity Research astatine Anand Rathi Share and Stock Brokers

ITC | Previous close: ₹439.95 | Target price: ₹480 | Stop loss: ₹412 | Upside potential: 9%

After reaching the ₹475 people connected January 4, 2024, ITC experienced a important diminution of astir 75 points, oregon 16 per cent. 

However, successful the consequent 18 trading sessions, ITC showed stableness by avoiding further declines and consolidating wrong a scope of ₹400-416. 

In the erstwhile trading session, notable buying involvement was observed astatine little levels, accompanied by important trading volume. 

There is the enactment of a bullish AB=CD signifier connected the regular illustration of ITC wrong the mentioned terms portion of ₹400-416. 

This portion besides coincides with the 0.382 per cent retracement level of a terms plaything that occurred betwixt January 2023 and July 2023. 

The play Relative Strength Index (RSI) has reversed from 45 levels, which suggests a perchance lucrative buying opportunity.

"One tin bargain this banal successful the portion of ₹430-440 with an upside people of ₹480 and a halt nonaccomplishment should beryllium placed adjacent ₹412 connected a regular adjacent basis," said Patel.

Also Read: IREDA stock terms jumps implicit 10% arsenic it attains 'Navratna status'

Navin Fluorine International | Previous close: ₹3,308.45 | Target price: ₹3,700 | Stop loss: ₹3,095 | Upside potential: 12%

Following its treble apical enactment adjacent the ₹4,900-4,800 zone, Navin Fluorine experienced a important downturn, shedding astir 2,000 points, oregon 41 per cent. 

However, successful the past 5 to six trading sessions, it recovered enactment adjacent the ₹3,000 mark. 

Concurrently, determination is simply a bullish crab signifier connected Navin Fluorine's regular chart, signalling a imaginable reversal successful trend. 

Moreover, "regular bull divergence" has been identified connected the regular standard of the (RSI), indicating strengthening bullish momentum. 

"Based connected these method indicators, investors whitethorn see initiating agelong positions wrong the scope of ₹3,270-3,320. The upside people for this commercialized is acceptable astatine ₹3,700. To negociate risk, a halt nonaccomplishment bid should beryllium placed adjacent ₹3095, helping to bounds imaginable losses successful lawsuit the commercialized doesn't execute arsenic expected," said Patel.

Also Read: Maruti Suzuki stock terms gains implicit 2% aft Q4 results; Should you buy, merchantability oregon clasp the stock?

Piramal Enterprises (PEL) | Previous close: ₹925.05 | Target price: ₹1,055 | Stop loss: ₹845 | Upside potential: 14%

In September 2023, PEL reached its zenith, soaring to the level of ₹1,140. 

However, it subsequently endured a important downturn, plummeting by astir 334 points, oregon astir 29 per cent. 

The banal seems to person discovered a level of enactment wrong the bracket of ₹820-850, suggesting a imaginable stabilisation successful its terms movement. 

Notably, caller marketplace observations person unveiled the enactment of a treble bottommost signifier connected the regular chart, accompanied by a bear-trendline usurpation connected the play RSI —a promising denotation for traders. 

This confluence of method signals presents an enticing accidental for marketplace participants.

"Traders are advised to contemplate initiating agelong positions wrong the scope of ₹900-930. The people for this bullish commercialized is positioned astatine ₹1,055, representing a imaginable upside opportunity. To negociate risks effectively, it is recommended to acceptable a halt nonaccomplishment level astatine ₹845, to beryllium evaluated based connected regular closing prices," Patel said.

Also Read: BSE stock terms declines 17% station SEBI directions: Largest azygous time autumn since listing

Shiju Koothupalakkal, Technical Research Analyst, Prabhudas Lilladher

Rail Vikas Nigam (RVNL) | Previous close: ₹289.85 | Target price: ₹340 | Stop loss: ₹270 | Upside potential: 17%

The banal has indicated a triangular signifier breakout supra the ₹260 level. 

It has gained strength, picking up good from the important 50EMA (exponential moving average) level of ₹252, and has moved past the erstwhile highest of ₹271 to fortify the inclination further. 

Further emergence is anticipated with the RSI rising; it spiked aft the consolidation period, signalling a bargain with overmuch upside imaginable disposable from existent levels.

Also Read: Yes Bank stock terms jumps 8% aft beardown Q4 results 2024. Do you own?

Bajaj Auto | Previous close: ₹8,965.50 | Target price: ₹9,840 | Stop loss: ₹8,540 | Upside potential: 10%

The banal has indicated a affirmative bullish candle aft the gradual slide, taking enactment adjacent the ₹8,640 level, maintaining supra the important 50EMA level of ₹8,540 to amended the bias. 

The RSI is good placed and has indicated a inclination reversal to awesome a bargain with overmuch upside potential.

Also Read: Ashsih Kacholia picks up involvement successful this multibagger banal Walchandnagar Industries during Q4FY24

Indian Railway Finance Corporation (IRFC) | Previous close: ₹158.05 | Target price: ₹180 | Stop loss: ₹145 | Upside potential: 14%

The banal has been successful a rangebound consolidation period, and erstwhile again, from the level of ₹135, it has picked up to determination past the important 50EMA level of ₹141.50. 

The banal is expected to execute good successful the coming days amid a triangular enactment breakout indicated connected the regular chart. 

With the inclination gaining spot on with the RSI connected the emergence showing improvement, determination is simply a inclination reversal indicated signalling a bargain and it has imaginable to transportation connected with the affirmative determination further ahead.

Axis Securities

Divi's Laboratories | Previous close: ₹4,025.35 | Buying range: ₹4,000-3,920 | Target price: ₹4,320-4,450 | Stop loss: ₹3,780 | Upside potential: 11%

Divi's Laboratories has demonstrated a breakout supra the inverted caput and shoulders signifier astatine ₹4,000 connected the play chart, suggesting the onset of an uptrend. 

The banal closing supra the play precocious Bollinger Band has generated a medium-term bargain signal. 

The banal is holding supra cardinal moving averages of 20, 50, 100, and 200 days, indicating an uptrend successful some the abbreviated and medium-term. 

The play RSI holds supra its notation line, indicating affirmative bias.

Housing & Urban Development Corporation (HUDCO) | Previous close: ₹228.10 | Buying range: ₹222-218 | Target price: ₹252-265 | Stop loss:204 | Upside potential: 16%

HUDCO has shown a breakout supra the consolidation portion betwixt ₹220-165 connected the play chart, signalling the continuation of the medium-term uptrend. 

The banal has recovered enactment supra the 38 per cent Fibonacci retracement level of the rally from ₹70 to ₹226 astatine ₹165, establishing a medium-term basal that whitethorn enactment further upward movement. 

Additionally, the banal has been forming higher highs and higher lows connected the play chart, portion besides maintaining supra an upward-sloping trendline, indicating an upward bias. 

The play RSI has fixed a crossover supra its notation line, generating a bargain signal.

GMR Airports Infrastructure | Previous close: ₹90.79 | Buying range: ₹90-87 | Target price: ₹98-103 | Stop loss: ₹85 | Upside potential: 13%

On the play chart, GMR Airports Infrastructure banal has breached retired supra the descending triangle signifier astatine ₹87 with a beardown bullish candle, signalling the continuation of the uptrend. 

During signifier formation, measurement enactment tends to decline, portion astatine the breakout, determination is an summation successful activity, indicating an influx of marketplace participation. 

Currently, the banal is trending wrong a medium-term rising channel, precocious uncovering enactment astatine the little set of the transmission and present moving towards the precocious band. 

The play RSI has fixed a crossover supra its notation line, generating a bargain signal.

Jindal Saw | Previous close: ₹559 | Buying range: ₹550-540 | Target price: ₹609-625 | Stop loss: ₹513 | Upside potential: 12%

On the play chart, Jindal Saw has breached retired supra the consolidation portion betwixt ₹560-400 with a beardown bullish candle, signalling the continuation of the uptrend. 

Volume enactment increases astatine the breakout, indicating an influx of marketplace participation. 

Additionally, the banal forms higher highs and lows portion holding supra the medium-term uptrend, indicating a affirmative bias. 

The play RSI has fixed a crossover supra its notation line, generating a bargain signal.

Read each market-related quality here

Disclaimer: The views and recommendations supra are those of idiosyncratic analysts, experts and broking companies, not Mint. We counsel investors to cheque with certified experts earlier making immoderate concern decisions.

Unlock a satellite of Benefits! From insightful newsletters to real-time banal tracking, breaking quality and a personalized newsfeed – it's each here, conscionable a click away! Login Now!

Published: 29 Apr 2024, 10:05 AM IST