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Technical stock picks: Vinati Organics, Hero MotoCorp, Tech Mahindra and other recommendations from analysts

Technical stock picks: Vinati Organics, Hero MotoCorp, Tech Mahindra and other recommendations from analysts

Technical stock picks: Vinati Organics, Hero MotoCorp, Tech Mahindra and other recommendations from analysts
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By Sandeep Singh  Oct 6, 2021 1:44:12 PM IST (Published)

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SUMMARY

Dalal Street made a strong comeback after taking a breather, with the Nifty50 once again not far from Mount 18,000. Analysts say profit booking at higher levels cannot be ruled out for now. Are there any money-making opportunities for traders at the current juncture? Which stocks are most lucrative to buy now for the short term? Here are seven stocks -- including Tech Mahindra, Hero MotoCorp and Vinati Organics, -- that analysts recommend for near-term gains.

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Tata Motors: The stock appears to be in a fine form backed by overall strength in the auto sector. It has a good volume foundation and seems to be headed higher. The overall trend continues to remain bullish. Buying is recommended for a target of Rs 338 with a stop loss at Rs 313. (Manish Hathiramani, Deen Dayal Investments)

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Vinati Organics: The stock has been following an uptrend with a visible bullish sentiment. Technical indicators MACD and RSI are suggesting that the momentum in Vinati Organics is likely to continue. Traders can buy the stock above the Rs 2,000 mark for a target of Rs 2,120 with a stop loss at 1,890. (Analyst: Ashis Biswas, CapitalVia Global Research)

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Tech Mahindra: The stock has taken support near Rs 1,400 after a quick price correction. It appears to have formed a promising reversal pattern. The daily texture is indicating further upside. One can buy Tech Mahindra shares at Rs 1,413 for a target of Rs 1,470 with a stop loss at Rs 1,385. (Analyst: Shrikant Chouhan, Kotak Securities)

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Hero MotoCorp: The stock has been rising from its support level on the daily and weekly charts, and the momentum is likely to continue. Hero MotoCorp has given a breakout near the Rs 2,800 mark with support at the 55-exponential moving average line. Buying is recommended above Rs 2,870 for a target of Rs 3,200 with a stop loss at Rs 2,750. (Analyst: Ashis Biswas, CapitalVia Global Research)

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Reliance Industries: The recent surge has happened with good volume. The momentum can take the stock to Rs 2,620, and then Rs 2,750. One can buy for a target price of Rs 2,620 with a stop loss at Rs 2,450. (Manish Hathiramani, Deen Dayal Investments) Disclosure: Network 18, which publishes cnbctv18.com, is a part of Reliance Industries Ltd.

Hindustan Unilever
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Hindustan Unilever (HUL): The stock has completed one leg of correction and is trading near an important retracement support level. It has formed a higher bottom pattern on the intraday charts, which is broadly positive. Buying is recommended at Rs 2,708 for a target of Rs 2,800 with a stop loss at Rs 2,655. (Analyst: Shrikant Chouhan, Kotak Securities)

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ICICI Bank: The stock has broken an all-time high and taken support at the 55-day exponential moving average line. Momentum indicators MACD and RSI are looking positive for ICICI Bank shares. One can buy ICICI Bank shares above Rs 704 for a target of Rs 780 with a stop loss at RS 670. (Analyst: Ashis Biswas, CapitalVia Global Research)

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