Hot Stocks | Amrutanjan Health Care, Godrej Properties, Indian Hotels Company can give up to 18% return in short term

#Hot Stocks, #markets, #Nifty, #Podcast, #Stocks Views

Bulls made a strong comeback on September 21, as the Indian market recovered sharply from lower levels to end the day on a positive note.

The Nifty reclaimed 17,500, while the Bank Nifty, too, closed above the key psychological level of 37,000. IT, metal and realty stocks supported the up move in the market along with the Bajaj twins.

On the derivative front, a tug of war was seen between Call and Put writers at 17,500 strike. On the higher side, 17,700 would now act as strong resistance, while 17,400-17,250 is likely to act as a strong support zone.

We expect the market to remain volatile as we are approaching the expiry of the September series. However, bias should favour bulls in the upcoming sessions and any dip in prices should be used to create long positions.

Here are three buy calls for the next two-three weeks:

This stock has made its 52-week high of Rs 883. For the last four months, it has been consolidating in the Rs 650-750 range, with prices holding above their short and long-term moving averages on daily and weekly charts.

This week, we have observed a fresh breakout in the prices after a prolonged consolidation phase. Sudden spurt in volumes, along with price breakout, suggests the trend is likely to favour bulls in the coming sessions as well.

Traders can accumulate the stock in the range of Rs 840-850 for an upside target of Rs 1,000.

This stock has maintained its uptrend and can be seen trading in a rising channel with the formation of higher high and higher bottom patterns on daily and weekly charts.

It has given a breakout above the inverted head and shoulder pattern after taking support at its 100-day exponential moving average on the daily interval.

The breakout is observed with higher volumes, which suggest a long build-up in prices.

Traders can accumulate the stock in the range of Rs 1,700-1,725 for an upside target of Rs 1,960, with a stop loss below Rs 1,550.

This week, the stock has given a breakout with massive volumes and tested its 52-week high as well.

On the technical front, this stock can be seen trading in a rising channel with the formation of the higher high and higher bottom patterns.

Besides, this stock is well-placed above its short and long-term moving averages on daily and weekly intervals.

The price-volume action with breakout suggests the next up-move in prices.

Traders can accumulate the stock in the range of Rs 160-165 for an upside target of Rs 188 with a stop loss below Rs 145.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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