₹5,316 crore. At lower levels, foreign institutional investors (FIIs) may again buy aggressively since India continues to be a consensus favourite destination for FIIs. Due to these factors, the market is likely to move into a consolidation phase.
Read more: Why are FPIs buying and DIIs selling Indian stocks? Will the trend continue? While there is some uncertainty about the near-term market movement, analysts recommend betting on quality stocks to maximise gains and minimise losses. Based on the recommendations of several analysts, here are eight stocks that one can buy for the next three-four weeks: At the current juncture, this counter has reversed after making a bullish divergence on a daily scale near ₹310-320 levels and is currently trading near ₹338 which is also a 200-day exponential moving average (EMA). "One can buy in the range of ₹335-340 with a target price of ₹400 and a stop loss would be ₹305 on a daily close basis," said Patel.
After making a solid base near ₹460-500 levels, which is also a potential reversal zone of the bullish bat pattern, the stock is trading above all critical daily exponential moving averages. Additionally, this counter has made a bullish divergence near the above-mentioned potential reversal zone, which is making it lucrative at the current levels. "One can buy this stock between ₹525-530 with an upside target of ₹600 and the stop loss should be around ₹495," said Patel.
The recent meltdown in Eicher Motors after making the top of ₹3,666 resulted in a nearly 12 per cent correction. At the current juncture, the price action of the stock is trying to take support near the 0.618 retracement of its previous up move. Additionally, from an Indicator point of view, the daily RSI is about
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