DMart, Wipro among 7 stocks that can offer solid returns in near-term

The lower area of Rs 315-320 is acting as a crucial support and one may expect an upside bounce from the lows for the stock. As per the smaller and larger timeframe chart pattern, one may expect stock prices to form an important bottom reversal at the mentioned support and to show a reasonable upside bounce. The daily RSI is placed at lower 40 and is expected to turn up from there. One may look to buy Biocon at CMP, add more on dips down to Rs 322 and wait for the upside target of Rs 368 in the next 3-4 weeks. Place a stoploss of Rs 312.

Analyst: Nagaraj Shetti, Technical Research Analyst, HDFC Securities

The stock has seen a price-wise correction in the last couple of months. However, prices have now reached its support of 20 EMA on the monthly charts and simultaneously RSI has shown a positive divergence on the daily chart. Such divergence at support usually leads to a pullback or a reversal and looking at the charts, a short pullback move towards its swing high in the next few days is likely. Hence, traders can look to trade with a positive bias and buy in the range of Rs 329-325 for a potential target of Rs 354 in the next 4-5 days. They can place a stop loss below Rs 313 on long positions.

Analyst: Ruchit Jain, Lead Research, 5paisa.com

Wipro has consolidated within a narrow range post a corrective phase and prices have not given a breakout from its immediate resistance. The volumes during the recent consolidation phase were low but have started increasing along with the price up move. The RSI oscillator on the daily chart is indicating a positive momentum and hence, a continuation of buying interest in the stock in the near term is likely. Hence, traders can look to trade with a positive bias and buy in the range of Rs 587-584 for a potential target of Rs 620 in the next 1-2 weeks. One can place a stop loss below Rs 568 on long positions.


Analyst: Ruchit Jain, Lead Research, 5paisa.com

HCL Tech has major support at Rs 1,120-1,170 which the stock has held even in this highly challenging environment. A series of green candles bunching in close proximity does suggest active buying interest in the counter. MACD has moved into a buy. Since September the price has been in a very wide trading range of Rs 1,120-1,363. If sentiment in the market improves on a change in the global geo-political scenario, HCL should see a rally to Rs 1,360 and above that to Rs 1,450. Buy with a holding period of 6-8 weeks and keep a stop below Rs 1,090.


Analyst: Manish Shah, Niftytriggers.com

Price has reversed several times from the support zone at Rs 128-130; there is evidence of buying as the price has seen a good bounce from these levels in the past. The decline in prices in the last couple of days was on very low volumes and does not have underlying violence in it. Price can reverse sharply from this support level. The long term range is wide between Rs 180-140. Buy for a target of Rs 180-200 and keep a stop below Rs 130. Hold for 6-8 weeks.


Analyst: Manish Shah, Niftytriggers.com

The stock has been following an uptrend, trading in an ascending channel. Indicators like MACD and RSI are indicating that positive momentum will continue in the stock. One can buy in Sun Pharma above Rs 862 with the target of Rs 925. Investors are advised to maintain a stop loss of Rs 780.

Analyst: Vijay Dhanotiya, Lead of Technical Research, Capitalvia Global Research

The stock has been trading in an upward trending channel. It has also reversed from the support levels of 200EMA. Indicators like MACD and RSI are indicating the positive momentum to continue in the stock. Traders can buy above Rs 4,175 with a target of Rs 4,235 and a stop loss of Rs 4,125.

Analyst: Vijay Dhanotiya, Lead of Technical Research, Capitalvia Global Research