Stocks to buy: Titan, Bajaj Finserv, Tata Consumer among 9 stocks that may rise 10-18% in next 3-4 weeks, say analysts

Indian stock market benchmark Nifty 50 increased by 0.12 per cent last week, extending its winning streak into the seventh consecutive week. Until Friday's close (July 19), the benchmark index is up 13 per cent this year.

The medium to long-term outlook of the domestic stock market remains bright. However, experts expect some volatility in the short term due to elevated valuations of the market and the ongoing earnings season. Uncertainty around the US Presidential election and Fed rate cut may also swing the market.

Investors await Union Budget 2024, which the Finance Minister Nirmala Sitharaman will present on Tuesday, July 23. The market expects the Budget to be pro-growth and focused on fiscal prudence with some populist measures as well.

"The market direction will be determined by upcoming Budget outcomes. Investors are anticipating pro-industry and populist measures with prudence in fiscal matters. If the Budget meets the expectation, it will provide more stability in the market," said Vinod Nair, the head of research at Geojit Financial Services.

Experts advise investors and traders to stay cautious and bet on quality stocks at this juncture. For the short term, they recommend buying stocks that appear attractive on technical indicators. Based on the recommendations of several experts, here are nine stocks that can rise 10-18 per cent in the next 3-4 weeks. Take a look:

Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers

Titan Company | Previous close: ₹3,259 | Buying range: ₹3,235-3,265 | Target price: ₹3,575 | Stop loss: ₹3,090 | Upside potential: 10%

For the past few weeks, Titan has been in a corrective phase after reversing from a bullish bat pattern on the daily chart.

Double bottom structure is seen on a weekly scale, and massive volume activity at lower levels indicates a bullish reversal.

The double structure is seen exactly on the previous breakout range, which was seen in July 2023.

This level, previously a resistance, has now turned into support.

"Considering these factors, investors might consider buying Titan shares within the ₹3,235-3,265 range, anticipating a potential price increase to a target of ₹3,575. To manage risk effectively, it is advisable to set a stop loss order of around ₹3,090 based on daily closing prices, protecting against potential downside movements," said Patel.

Bajaj Finserv | Previous close: ₹1,640.25 | Buying range: ₹1,620-1,645 | Target price: ₹1,800 | Stop loss: ₹1,550 | Upside potential: 10%

For the last few days, Bajaj Finserv has been trading in a tight range between ₹1,565 and ₹1,610, a phase often seen before a major price shift.

It has now broken out of this range with significant trading volume, indicating growing investor interest and confidence.

This breakout suggests a potentially good buying opportunity.

From a technical standpoint, the daily chart has revealed an inverse head and shoulders pattern with a neckline at ₹1,620, and the stock is holding steady above this level at around ₹1,640.

Moreover, the MACD has formed a bullish crossover just above the zero line, signalling upward momentum.

The combination of the breakout and MACD crossover points to further potential gains.

"Considering the technical indicators, initiating long positions in Bajaj Finserv within the ₹1,620-1,645 range seems prudent. This entry range could lead to a target price of ₹1,800, offering significant upside potential. A stop loss at ₹1,550 on a daily closing basis is recommended to mitigate risk," said Patel.

Aether Industries | Previous close: ₹881.10 | Buying range: ₹860-880 | Target price: ₹970 | Stop loss: ₹820 | Upside potential: 10%

Recently, Aether has been in a corrective phase after breaking out from the ₹860 level with significant volume.

The recent correction has occurred with very low volume, suggesting that bearish pressure is weakening near the ₹860 support level.

This level, previously a resistance, has now turned into support.

"Considering these factors, investors might consider buying Aether shares within the ₹860-880 range, anticipating a potential price increase to a target of ₹970. To manage risk effectively, it is advisable to set a stop loss order around ₹820 based on daily closing prices, protecting against potential downside movements," said Patel.

Shiju Koothupalakkal, Technical Research Analyst, Prabhudas Lilladher

Tata Consumer Products | Previous close: ₹1,188 | Buying range: ₹1,170-1,190 | Target price: ₹1,340 | Stop loss: ₹1,110 | Upside potential: 13%

After a short consolidation period, the stock has moved past the resistance of ₹1,175 and has improved the bias with positive bullish candle formation, as witnessed on the daily chart.

The RSI is on the rise, indicating strength and has much upside potential from the current levels to continue with the upward move in the coming days.

"With a rounding bottom formation visible on the daily chart, the stock is anticipated to gain further. With favourable parameters, we suggest buying the stock for an upside target of ₹1,340, keeping the stop loss of ₹1,110," said Koothupalakkal.

ITD Cementation India | Previous close: ₹514.85 | Buying range: ₹505- 516 | Target price: ₹580 | Stop loss ₹575 | Upside potential: 13%

The stock has witnessed a significant rally recently, racing from ₹255 to scale the peak of ₹590, where it resisted and witnessed some profit booking to slip down to retrace 40 per cent of the rise.

It has taken support near the important 50EMA (exponential moving average) of ₹444 levels.

It has indicated a pullback to improve the bias, which is anticipated to rise further in the coming days.

The RSI has corrected significantly from the highly overbought zone and is currently well-placed, indicating a trend reversal to signal a buy.

Century Textiles & Industries | Previous close: ₹2,186 | Buying range: ₹2,170-2,220 | Target price: ₹2,570 | Stop loss: ₹2,100 | Upside potential: 18%

The stock has maintained a strong uptrend overall and recently witnessed a short period of correction, which has taken support near the important 50EMA level of ₹2,125.

It again indicated a pullback to improve the bias. It is expected to rise further in the coming days.

The RSI is well-placed currently, having indicated a trend reversal to signal a buy and is on the rise, indicating strength.

"With much upside potential visible from current levels and the chart looking good on the daily chart, we suggest buying the stock for an upside target of ₹2,570, keeping the stop loss of ₹2,100," said Koothupalakkal.

Axis Securities

Quick Heal Technologies | Previous close: ₹614.55 | Buying range: ₹600-588 | Target price: ₹690-715 | Stop loss: ₹545 | Upside potential: 16%

Quick Heal has demonstrated a breakout from the consolidation range at ₹575 level on the weekly chart, signalling a medium-term uptrend.

The stock found support and bounced back from the 30-week SMA (simple moving average) support around ₹454.

The weekly RSI is sloping upward along with a positive crossover, confirming a rising strength on price breakout.

It has also given a crossover above its reference line, generating a buy signal.

Colgate Palmolive (India) | Previous close: ₹3,120.95 | Buying range: ₹3,080-3,020 | Target price: ₹3,350-3,435 | Stop loss: ₹2,900 | Upside potential: 10%

Colgate Palmolive has confirmed a multi-week resistance breakout at ₹3,030 level on the weekly chart, indicating the continuation of the medium-term uptrend.

For the past couple of years, the stock has been trending higher in the up-sloping channel formation, which reconfirms a strong uptrend.

It is positioned above the key short and medium-term moving averages of 20, 50, 100, and 200 days, indicating a positive bias.

The weekly RSI is holding above its reference line, indicating positive bias.

Nitin Spinners | Previous close: ₹387 | Buying range: ₹385-379 | Target price: ₹435-448 | Stop loss: ₹353 | Upside potential: 16%

Nitin Spinners has demonstrated a breakout above the consolidation range pattern between ₹385-300 on the weekly chart, indicating the continuation of the uptrend.

Volume dried during the consolidation period, then increased at the breakout, indicating a significant influx of participation.

The weekly Bollinger Bands buy signal indicates increased momentum.

The daily and weekly strength indicator RSI is sustained above its reference line, which shows rising strength.

Read all market-related news here

Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.