HCL Tech and Saregama among stocks recommended for short term returns
The Economic Times reported on six stock recommendations as markets focus on September-quarter earnings and economic data.
According to The Economic Times, markets recovered last week due to corporate earnings and buying interest in heavyweight stocks. Investors are now looking toward September-quarter earnings, global developments, and economic data releases.
HCL Tech has shown signs of a potential trend reversal following a consolidation breakout on daily charts. Technical indicators, including a golden crossover and a bullish breakout on Point and figure charts, suggest short-term momentum.
Saregama India is exhibiting positive price action after moving beyond a sideways consolidation period on the daily chart. Increasing trading volumes and a Bollinger Bands squeeze breakout indicate rising buying interest.
TVS Motor Company has strengthened after closing above the Rs 4,138 resistance level. This move, supported by volume, suggests the stock may prepare for further upward movement.
Alivus is showing recovery signs after a breakout from a Falling Channel pattern on the daily chart. The stock is also closing above its 21-Day and 50-Day EMAs.
Samavardhana Motherson shows demand at the Rs 150-148 support band. However, a bearish crossover of the 20 DEMA over its 200 DSMA indicates a convincing short-term bearish trend.