Stocks to buy this week: Berger Paints, Khadim, City Union Bank among 9 technical picks
Religare Broking pointed out that the Nifty has been hovering in the range of 19,300-19,850 for almost a month now and inching lower after retesting the upper band. "We feel fresh weakness in the banking majors combined with the resumption of decline on the global front could push the index lower and 19,200-19,450 would continue to act as a crucial support zone," Mishra said. "Resilience in select heavyweights from auto, FMCG, pharma and realty majors would continue to offer buying opportunities.
Traders should align their positions accordingly and prefer hedged trades," said Mishra. Considering the prevailing headwinds in the market, experts advise following a stock-specific approach at the current juncture. Based on the recommendations of several experts, below are nine stocks that one can consider buying for the next three to four weeks.
These stocks look attractive on technical parameters. Take a look: (Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) CUB has been under pressure for some time, but at this juncture, it is trading near its crucial support. Previously, the stock turned from this level, and we saw a rally towards ₹200. On the weekly chart, a range breakout is seen with massive volume, which is looking lucrative. "We advise traders to go long in the stock in the range of ₹134-138, with a stop loss of ₹124 and a target of ₹168," said Patel.
For the last three months, this stock has been consolidating in the range of ₹145-155. Recently it gave a clean breakout from the said range and it is currently placed at ₹171 level. It has also cleared its downward-sloping trendline quite comfortably.
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