Stocks to buy this week: HDFC Bank, Cochin Shipyard, NMDC, Jindal Stainless among 9 technical picks; do you own any?

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here As the market sentiment appears cautious, experts recommend buying technically and fundamentally sound stocks at the current juncture. Based on the recommendations of several experts, below are 9 stocks that one can consider buying for the next three to four weeks. Take a look: For the last two years or so, this stock has been rejected six times from the ₹1,725–1,750 zone and is currently placed near the ₹1,535 mark.

At present, HDFC Bank has taken timely support, retracing nearly 0.707 per cent of its recent up-move. A long-term bull trendline has been placed near ₹1,500, which is exactly around the above-mentioned 0.707 per cent retracement. On the indicator front, the weekly MACD has not made any bearish signals, and the weekly stochastics are taking a breather from their recent 260-point move.

"Based on the technical setup, one can accumulate this stock in the range of ₹1,460–1,490 with a stop loss of ₹1,425 and a target of ₹1,575," said Patel. This counter has been in a stellar rally since it has been making higher highs and higher lows. Also, it has nicely followed major DEMAs regularly.

In previous trading sessions, it took out its previous swing high and sustained above it. On the indicator front, daily stochastics have entered the overbought zone once again, which is a sign of strength. "One can buy this stock in the zone of ₹850–870 for a target of ₹950, and the stop loss should be ₹815 on a daily close basis," Patel said.

For the last three weeks or so, this counter has been consolidating in the range of ₹1,070–1,150. On January 10, it took out the said range, thus making it lucrative at current levels. On the indicator front, the Weekly MACD has given a bullish cross exactly above the zero line, which is