Stocks to buy this week: ITC, HUL, Concor, GAIL among 10 technical picks; do you own any?

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Bharatiya Janata Party (BJP) secured victory in three major states on Sunday, boosting the ruling party’s prospects of prevailing in next summer’s general election. Experts believe the market will see a healthy rally in the near term and most sectors will participate in it because of optimism over political stability and India's healthy macro outlook. On the technical front, Axis Securities said if Nifty crosses and sustains above 20,400 level, it would witness buying, leading the index towards 20,500-20,600 levels.

However, if the index breaks below the 20,150 level, it would witness selling, taking the index towards 20,000-19,900. "The weekly strength indicator RSI is above its respective reference lines, indicating a positive bias. For the week, we expect Nifty to trade in the range of 20,600-19,900 with a positive bias," said Axis Securities.

Track live market updates here While the market is at an all-time high, experts warn investors should avoid getting carried away and bet on technically and fundamentally sound stocks. Below are 10 stocks that experts recommend buying for the next three to four weeks. Take a look: After consolidating for 8–10 weeks, HUL gave a breakout from its previous trading range along with a bear trendline violation, which is looking lucrative at current levels.

On the indicator front, the weekly RSI is consistently above 50 levels, along with weekly DMIs that are positive, thus adding further confirmation of bullish bias. "One can buy the stock in the zone of ₹2,550–2,570, and the target would be ₹2,700, with a stop loss of ₹2,490 on a daily close basis," said Patel. On a daily scale, this counter has taken out the previous swing high of ₹556 approximately.