Here is a list of top three stocks which could give 7-8 % return in the next three-four weeks:
Power Grid: Buy | LTP: Rs 205.30 | Target: Rs 221 | Stop Loss Rs.195 | Upside 8 %
After a prolonged consolidation, the stock has managed to close above its trend-line resistance on a higher time frame (weekly) charts.
An Ascending Triangle Pattern breakout has witnessed in the weekly chart, and prices are sustaining above its trend-line support.
The latest rise in stock has pushed prices above its 50- and 100-days EMA on the weekly timeline. On the weekly chart, RSI (14) is reading above 60 levels with a bullish crossover.
Traders can accumulate the stock in the range of Rs 204 – 206.50 for the target of Rs 221 and a stop loss below Rs 195.
Tata Motors: Sell | LTP: Rs 151.65 | Target Rs 140| Stop Loss Rs.158 | Upside 7.5 percent
Prices are trading in a lower high and a lower low formation since April 22. Currently, prices are trading below its Head and Shoulder neckline resistance on the daily chart.
All the major moving averages are trading below the current prices. The RSI (14) is also in a bearish range shift and reading below 40 with negative crossover.
Traders can sell the stock in the range of Rs 150.50 – 152.50 for the target of Rs 140, and a stop loss above Rs 158.
Apollo Hospitals: Buy | LTP: Rs 1,318 | Target: Rs 1,425| Stop Loss: Rs.1,265| Upside 8.1 percent
The stock has given a breakout above the horizontal trend-line and later retested it on the daily charts. Every time the stock has retested its horizontal trend-line, a decent rally in prices was observed.
Currently, 50-days exponential moving average is acting as crucial support for the prices. Indicators are still positive on the weekly chart, and there is optimism among the participants.
Traders can accumulate the stock in the range of Rs 1,314 – Rs 1,325 for the target of Rs 1,425 and a stop loss below Rs 1,265.
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