Hot Stocks | Mahindra & Mahindra, Mphasis, Maruti Suzuki can return up to 11% in short term, here's why

On the structural front, the index is buttressed by a robust support at 19,230, and a subsequent crucial floor at 18,887. On the flip side, resistance seems to solidify at 19,645 - a peak seen over the recent three-week span, with the apex resistance pinned at 19,991, the index's zenith till date.

In light of these observations, a bullish swing in the Nifty index might gain traction once it surpasses the 19,645 threshold.

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

Mahindra & Mahindra: Buy | LTP: Rs 1,575.4 | Stop-Loss: Rs 1,530 | Target: Rs 1,700 | Return: 8 percent

The M&M stock has been charting a steady upward course, staying within its rising channel and consistently achieving higher highs and higher lows, underscoring a dominant bullish undertone.

Significantly, the stock showcases a clear breakout from the Inverse Head & Shoulder pattern, suggesting a potential continuation of its upward momentum. This pattern is particularly evident close to the channel's foundational support.

Furthermore, the stock's trajectory remains firmly above the 12-day EMA, a trusted gauge for dynamic backing.

Echoing this positive trajectory, the MACD (moving average convergence divergence) momentum indicator exhibits a favourable crossover above the zero benchmark, emphasizing the stock's mounting momentum.

Going ahead, we expect the prices to move higher till Rs 1,700 where stop-loss must be Rs 1,530 closing basis.

Maruti Suzuki India: Buy | LTP: Rs 10,003.80 | Stop-Loss: Rs 9,600 | Target: Rs 11,100 | Return: 11 percent

The stock has recently broken free from a long-standing resistance level at around Rs 9,475 benchmark, a boundary that remained unchallenged since December 2017. This upward trajectory is underscored by increased trading volume, indicating a burgeoning investor confidence and participation.

A deep dive into the daily charts reveals a pronounced Saucer pattern breakout, which amplifies the stock's bullish outlook and suggests a reinforced upward trend.

Contemporarily, Maruti remains poised positively, staying comfortably above crucial markers such as the 12-day and 26-day EMAs, cementing its bullish trend.

From a momentum perspective, the MACD indicator brings to light a subtle hidden positive divergence, punctuated by an encouraging crossover.

Looking ahead, there is an expectation that the stock's price will persist in its ascent until it reaches Rs 11,100 level. It's advisable to implement a stop-loss at Rs 9,600, based on a closing basis.

Mphasis: Buy | LTP: Rs 2,428.8 | Stop-Loss: Rs 2,375 | Target: Rs 2,650 | Return: 9 percent

Mphasis is trading at a pinnacle, having reached its 52-week high, showcasing strong bullish momentum expected to persist in the medium to long term. The daily charts further illuminate a decisive breakout from an Ascending Triangle, bolstering the stock's optimistic projection.

The stock can be seen while trading above 12 & 26-day EMA reflecting presence of uptrend.

From a momentum perspective, the MACD indicator reveals a subtle positive divergence, emphasized by an auspicious crossover.

Going ahead, we expect the prices to move higher till Rs 2,650 where stop-loss must be Rs 2,375 closing basis.

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