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Technical stock picks: Polycab, Voltas, Trent, Bharat Forge and other top short-term bets from analysts

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Dalal Street has taken out its recent records once again with the Nifty50 index climbing atop Mount 18k. Analysts say profit booking at higher levels cannot be ruled out for the time being. But are there any money-making opportunities for traders in the short-term horizon? Which stocks are best to buy now for gains in the next few weeks? Here are nine stocks -- including Asian Paints, Voltas, Trent, Dr Reddy's and Polycab -- -- that analysts are betting on now.

Technical stock picks: Polycab, Voltas, Trent, Bharat Forge and other top short-term bets from analysts
sbi, sbi results, sbi share price SBI:
After crossing the Rs 450 mark, the stock has entered a new zone of momentum with encouraging volumes. One can buy SBI shares for a target price of Rs 475 with a stop loss at Rs 450. (Analyst: Manish Hathiramani, Deen Dayal Investments)
Bharat Forge: The stock has formed a double bottom pattern to resume a larger uptrend from near the support zone of Rs 720. It has crossed key daily moving averages, and the daily momentum indicator giving a bullish signal. Bharat Forge shares can be bought at the current market price for a target of Rs 815-844 with a stop loss at Rs 752. (Analyst: Gaurav Ratnaparkhi, Sharekhan by BNP Paribas)
Canara Bank Canara Bank: The PSU banking space looks good at the current juncture, and Canara Bank looks most attractive from the basket. The stock has taken out stiff resistance at Rs 160. One can buy Canara Bank shares for a target of Rs 185 with a stop loss at Rs 170. (Analyst: Manish Hathiramani, Deen Dayal Investments)
Voltas: The stock appears to be in an upward trajectory on different timeframes, rising after a brief consolidation. It is forming a higher top higher bottom pattern on the daily chart, which is a bullish sign. The weekly momentum indicator is already in a bullish mode, and the daily indicator giving a fresh buy signal. Shares can be bought for a target of Rs 1,370-1,420 with a stop loss at Rs 1,250. (Analyst: Gaurav Ratnaparkhi, Sharekhan by BNP Paribas)
Polycab: The stock has resumed an uptrend after short-term consolidation, and broken out on the upside after forming an inside bar on the daily chart. The daily Bollinger bands have started to expand following a contraction phase, supporting the upmove. One can buy Polycab shares at the current levels for a target of Rs 2,720-2,850 with a stop loss at Rs 2,480. (Analyst: Gaurav Ratnaparkhi, Sharekhan by BNP Paribas)
Dr Reddy's: The stock has been rising from the trendline support level on the daily charts. The bullish sentiment in Dr Reddy's is expected to continue from support around Rs 4,950. Momentum indicator MACD suggests the upward movement to continue. A 'buy' is recommended above Rs 4,985 for a target of Rs 5,270 with a stop loss at Rs 4,790. (Analyst: Ashis Biswas, CapitalVia Global Research)
WestSide Trent Tata Trent: After taking out a record high recently, the stock has taken support at its 55-day exponential moving average line. Trent shares have given a daily candle breakout near Rs 1,085 and made a high around Rs 1,097. Technical indicators are suggesting the momentum in the stock is likely to continue. One can buy Trent shares above Rs 1,065 for a target of Rs 1,165 with a stop loss at Rs 1,022. (Analyst: Ashis Biswas, CapitalVia Global Research)
Asian Paints Asian Paints: The stock appears to be in an uptrend, having formed a channel on the daily charts. Technical indicators EMA and RSI are suggesting that the momentum in Asian Paints is likely to continue going forward. A 'buy' is recommended above Rs 3,230 for a target of Rs 3,500 with a stop loss at Rs 3,170. (Analyst: Ashis Biswas, CapitalVia Global Research)
Power Grid: The stock has recovered strongly after retesting the support zone of the neckline area of a consolidation range. The chart pattern combined with buoyancy in the power space is suggesting that the uptrend is likely to continue. Fresh longs are recommended in the Rs 191-193 zone for a target of Rs 205 with a stop loss at Rs 187. (Analyst: Ajit Mishra, Religare Broking)
Note To Readers

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

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