Stocks to buy: Titan, Hero MotoCorp, Zomato among 10 stocks that can rise 6-16% in next 3-4 weeks; do you own any?
Lok Sabha Election 2024: Market erases nearly ₹10 lakh crore in a week; will the selloff continue after result? Hero MotoCorp has demonstrated a breakout above the medium-term falling channel pattern at ₹4,635 on the weekly chart, suggesting the continuation of an uptrend. During pattern formation, volume activity tends to decline, while at the breakout, there is an increase in activity, indicating an influx of market participation. The stock has established a support base at ₹4,160, holding above the 38 per cent Fibonacci retracement level of the rally from ₹2,900 to ₹4,949, indicating potential medium-term support.
The weekly strength indicator RSI has given a crossover above its reference line, generating a buy signal. Also Read: ‘Market expecting positive end to the elections’ Godrej Consumer Products has demonstrated a breakout above the 13 weeks of consolidation zone between ₹1,280-1,150 on the weekly chart, suggesting the continuation of an uptrend. The stock is currently trending within a rising channel, having recently found support at the lower band and progressing towards the upper band.
The stock's closing above the weekly upper Bollinger Band signals a medium-term buying opportunity. The weekly strength indicator RSI has given a crossover above its reference line, generating a buy signal. Also Read: Stock market outlook: Expect no deep and prolonged correction; Nifty may see low-teen upside by March 2025: UBS On the weekly chart, Zomato has broken out above the small consolidation zone between ₹200-180, signalling the continuation of the uptrend.
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