Stocks to buy this week: ITC, HUL, Concor and GAIL
In intraday trading on Monday, December 4, the Nifty 50 increased by more than 2 percent to reach a new high of 20,702.65. This was due to the Bharatiya Janata Party (BJP) winning three important states on Sunday, which increased the party’s chances of winning the national election held the following summer.
Analysts predict that the market will witness a robust rally in the near future, with participation from most sectors due to confidence surrounding political stability and India’s strong economic outlook.
Technically speaking, Axis Securities predicted that purchasing would occur if the Nifty crossed and held above the 20,400 barrier, pushing the index toward the 20,500–20,600 range. On the other hand, selling would occur if the index broke below the 20,150 mark, moving the index between 20,000 and 19,900.
“A positive bias is evident when the weekly strength indicator, or RSI, is above each of its corresponding reference lines. We anticipate bullish bias in the Nifty’s weekly trading between 20,600 to 19,900, according to Axis Securities.
Experts advise investors to stay focused on technically and fundamentally good equities rather than getting carried away, even though the market is at an all-time high. Experts advise investing in the ten equities listed below over the upcoming three to four weeks. Look at this:
Stocks to buy this week Hindustan Unilever (HUL): ₹2,700 is the target price; ₹2,490 is the stop loss
Following eight to ten weeks of consolidation, HUL broke out of its prior trading range and violated the bear trendline. At these levels, the breakout seems profitable.
Regarding indicators, bullish bias is further confirmed by the weekly DMIs that are positive and the weekly RSI that is consistently above 50 levels.
“One can buy the stock in the zone of ₹2,550–2,570, and the target would be ₹2,700, with a stop loss of ₹2,490 on a daily close basis,” Patel stated.
Jubilant Foodworks | Stop loss: ₹520 | Target price: ₹655
This counter has broken through the previous swing high, which was roughly ₹556, on a daily basis. Price movement is maintaining above all significant exponential averages on a weekly scale, indicating bullishness.
The daily DMI bullish cross and the daily RSI have both broken beyond their prior swing high, confirming our bullish position in the counter.
“On a daily close basis, one can buy the stock in the zone of ₹560–570 with an upside target of ₹655 and a stop loss of ₹520 on a daily close basis,” Patel stated.
Stocks to buy this week Chambal Chemicals and Fertilizers | Stop loss: ₹285 | Target price: ₹365
On the weekly chart, Chambal Fertilizers has been consolidating for a while. It recently experienced a massive volume breakout.Indicators-wise, the weekly DMI, which has turned positive and appears profitable, and the weekly RSI are both set to hit the 70 zone.
“We advise traders to go long in the stock in the range of ₹315-320 with a stop loss of ₹285 and a target of ₹365,” Patel stated.
Aarti Industries | Target price: ₹585–613, buying range: ₹550–540, stop loss: ₹525
At the ₹535 level, Aarti Industries broke above the double bottom’s neckline, indicating the start of an upward trend.
Volume activity decreased as the pattern developed but increased during the breakout, indicating more traders were entering the market.
At ₹548, the stock also broke above the trendline that sloped downward, signaling the start of an uptrend.
With a bullish mode and a hold above its reference line, the weekly strength indicator RSI is showing positive bias.
