Tech picks: Indian Hotels among 5 stocks to buy for healthy returns in short term
Indian equities extended their recovery, led by sustained buying in IT stocks, as strong quarterly results and upbeat management commentary reinforced confidence in the sector’s earnings outlook. While rupee appreciation and easing crude prices provide near-term support, analysts say global inflationary and geopolitical risks warrant caution. Sustaining the recovery will require broader earnings growth beyond IT, supported by an improvement in domestic demand and easing margin pressures.
2/6
Buy Lemon Tree at Rs 113.5-113 | Stop Loss: Rs 103.5 | Target: Rs 125-128
Lemon Tree continues to find support in the Rs 102-100 band, which is a sacrosanct support cluster for the stock. A formation of a bullish anchor column from the same support band, and a follow through Double top buy on its Daily 0.25% P&F charts, indicates towards the presence of strong buyers are lower levels, and a shift in control towards buyers. At the same time, a bullish crossover of the 20DEMA, over its 50 DEMA, points towards improving momentum in the stock.
Hitesh Rathi, Technical Analyst - Equity & Derivatives, Angel One
The Rs 3,290-3,200 band is a very strong cushion for the stock, and the stock continues to attract buying in the zone, validated by the formation of a bullish anchor column from the same band. Alongside this, bullish 100% pole, further highlights the presence of strong demand at lower levels, alongside this a turtle breakout on the 0.25%*3 Daily Point and figure chart of the stock, indicates that the short-term momentum and control might be shifting.
Hitesh Rathi, Technical Analyst - Equity & Derivatives, Angel One
4/6
Buy Indian Hotels at Rs 770-772 | Stop Loss: Rs 704 | Target: Rs 880-885
Following a major downward sloping trendline breakout, and a potential trend reversal, INDHOTEL is now triggering a consolidation breakout, which indicates that the prior uptrend is resuming on the stock. A multi brick breakout on the 1% Renko chart, provides further confirmation of the resumption of the upmove.
Hitesh Rathi, Technical Analyst - Equity & Derivatives, Angel One
5/6
Buy SG Mart at Rs 798-805 | Stop Loss: Rs 750 | Target: Rs 900
SG Mart Limited demonstrates a decisive horizontal resistance breakout on the daily chart, pushing to 798.20 (+5.71%). Trading comfortably above its key 20/50/100/200 EMAs with expanding volume and an RSI crossover past signal lines to 60.24, the setup confirms accelerated upside momentum toward 900.00.
Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio
Molbio Diagnostics Limited demonstrates a strong bullish continuation breakout past recent highs on the daily chart, surging to 1,574.40 (+10.15%). Holding firmly above its key moving average cluster with strong volume expansion and a bullish RSI rising to 67.22, the setup confirms accelerated upside momentum toward 1,725.00.
Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio
Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and his ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclosures here.