Hot Stocks | Can bet on Aurobindo Pharma, Sun Pharma and Maharashtra Seamless for short term

However, a decisive move in Bank Nifty above 30,000 would add further buying momentum to the index.

As far as Nifty is concerned, now 13,000 would act as key support levels for the coming sessions as call writers at 13,000 strikes were seen unwinding their positions while put writers added hefty open interest at 13,000 put strike.

Any dip in prices should be used to create fresh longs. On the higher side, Nifty could test 13,300 levels with Bank Nifty likely to outperform.

Here are three buy calls for the next 2-3 weeks:

Aurobindo Pharma | LTP: Rs 896.75 | Target price: Rs 983 | Stop loss: Rs 825 | Upside: 10%

In the recent past, the stock saw a sharp rally from Rs 753 to Rs 863 after forming a double bottom pattern on daily charts.

However, since then the prices were seen consolidating in the range of Rs 875 to 825 with the formation of the lower high and lower bottom patterns.

This week, the stock has managed to give a breakout above the Bullish Flag pattern, visible on daily charts.

The additional volumes with breakout suggest the next upswing in the prices.

Sun Pharmaceutical Industries | LTP: Rs 541 | Target price: Rs 594 | Stop loss: Rs 500 | Upside: 10%

After testing Rs 455 levels in the recent past, the stock saw an almost V-shaped recovery and surpassed its short and long-term moving averages on the daily charts.

For almost three weeks, the stock has been consolidating in the range of Rs 520 to Rs 495 levels and formed a rectangle pattern on daily charts.

This week, the breakout above the rectangle pattern has been witnessed which suggests the continuation of its uptrend.

The rising volumes with breakout and positive divergences on secondary oscillators also point towards the next upswing in the prices.

Maharashtra Seamless | LTP: Rs 275.45 | Target price: Rs 303 | Stop loss: Rs 250 | Upside: Rs 10%

Last week, the stock managed to give breakout above its 200-day exponential moving average on the daily charts which is placed at Rs 251 levels.

At the current juncture, a fresh breakout above the key resistance of Rs 260 has been witnessed with marginally higher volumes.

The stock has given breakout after forming a rounding bottom pattern on daily charts which suggests further upside in the prices.

(The author is Senior Technical Analyst at SMC Global Securities)

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