These 4 stocks which could give up to 8% to 12% return in short term

With weak global cues and earnings data coupled with regulatory stance, it signed a caution sentiment in the upcoming session and it is expected to witness a marginal consolidation before the next rally.

Dinesh Rohira 5nance is suggesting the following stocks.

The Nifty index witnessed another staggering leap during the past session to register record high level with a major breakout from 10,200 level.

However, the vindication towards the following day indicated a weak support for the breakout as it turned choppy to close below its psychological level marked at 10,200 level, indicating a sluggish sentiment among market participants and invalidating a run-up.

On the weekly price chart, the index formed a small bearish candlestick pattern after forming a “hanging man” kind of pattern in the previous session, indicating a weak market movement.

Further, the secondary momentum indicator slipped from earlier level but remained on the favorable price level. Based on a Fibonacci retracement, the index is currently trading above all the crucial levels with major support placed at 10,035 level and resistance level at 10,251.

With weak global cues and earnings data coupled with regulatory stance, it signed a caution sentiment in the upcoming session and it is expected to witness a marginal consolidation before the next rally.

Here is a list of top 4 stocks which could give up to 8% return in short-term;

Graphite India: BUY| Target Rs486 | Stop-loss Rs435 |Return 8%

Graphite India witnessed a sideways movement after trading in an uptrend trajectory for a couple of sessions. Despite trading in a downward trend last week, it rebounded back to Rs450 levels on the backdrop of volume growth.

On the technical front, the scrip indicted a positive trend with secondary momentum turning bullish at current level with RSI at 65 favoring a buying sentiment.

The stock also witnessed a decisive breakout from its 20-days EMA and currently trading above all the moving average level.

The scrip is currently facing a resistance at 492 levels and support level at 425. We have a BUY recommendation for Graphite India which is currently trading at Rs450

Axis Bank: SELL| Target Rs438 | Stop-loss Rs489 |Return 5%

Axis Bank faced strong headwinds on its daily price movement despite witnessing up-run during the previous session; however, it continued to trade with negative trajectory as it turned choppy to trade near its 52-week low level.

Further, it ended the weekend with negative sentiment losing about 52 points and trading at lower price brand.

On the weekly price chart, it formed a strong bearish hold pattern which is expected to keep the stock under pressure without any major breakout in short-term.

Further, the price is currently below its 50-days EMA level coupled with bearish crossover on its momentum indicator, thus indicating a continued negative outlook going forward.

The stock is facing its resistance at 513 levels while the support level is seen at 430. We have a SELL recommendation for Axis Bank which is currently trading at Rs460.3

Coal India: BUY| Target Rs296 | Stop-loss Rs267 |Return 4%

Coal India witnessed a strong bullish trend on its price chart despite facing a consolidation phase during the previous session but continued to trade on a positive trajectory. It also witnessed a strong volume growth despite a volatile regime.

On the daily price chart, the stock formed a bullish candlestick pattern which is expected to support the next leap of momentum after healthy movement in the previous session.

Further, the secondary trend indicator suggests a favourable buying price regime with RSI at 67 levels correspondingly a bullish crossover.

The stock is currently facing an immediate resistance at 291and support level at 256. We have a BUY recommendation for Coal India which is currently trading at Rs285.8

Indiabulls Housing Finance: BUY| Target Rs1403 | Stop-loss Rs1335 |Return 3%

Indiabulls Housing remained on a bullish trajectory registering a peak on its long-term charts irrespective of reversal trend along the chart. It witnessed a consistent volume growth over a period of time along with its price uptrend.

On its daily price chart, the scrip continued to form a strong bullish trend as it ended the last session on positive cues. Further, the secondary momentum indicator suggests a strong support for buy regime at current level with RSI at 69 coupled with MACD at 24 above its signal-line.

The stock is facing a resistance at 1472-level and support level at 1329. We have a BUY recommendation for Indiabulls Housing which is currently trading at Rs1360.7