Stocks to buy this week: NMDC, DMart, SAIL, IDFC among 9 technical picks; do you own any?
Geojit Financial Services, the 50DMA (daily moving average) at 19,570 remains a stiff challenge, above which, expect buyers to not chase prices higher. "This also brings the downside markers forward from 19,262/19,170 to 19,433 or 19,370 which would be critical as turnaround points while we play the 19,840 trajectory," said James. Experts recommend buying technically and fundamentally sound stocks at the current juncture, considering the prevailing uncertainty in the short term.
Based on the recommendations of several experts, below are nine stocks that one can consider buying for the next three to four weeks. Take a look: (Exciting news! Mint is now on WhatsApp Channels. Subscribe today and stay updated with the latest financial insights! Click here!) Dilip Buildcon witnessed a decent upside since May this year which was followed by a brief period of consolidation.
The stock has recently witnessed a breakout from this consolidation on the weekly charts with strong volumes, suggesting a strong upside can be expected in the coming days. The stock price will likely get a push once the weekly RSI trades above the 72 level. It is finally trading above its 200WEMA (weekly exponential moving average) which could result in the start of a fresh uptrend.
NMDC has been in a multiyear consolidation. During this while, it has gained momentum and formed higher highs and higher lows on the weekly charts. The stock witnessed a breakout at ₹130 which pushed the stock towards ₹160.
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