Investors can use buy on dips; 5 stocks which can give up to 15% return in short term

As per derivative data, we expect the market to trade with positive bias. The Nifty has immediate support placed around 9,750 levels and investors can use any dip as buying opportunity going forward with strong support around 9,700 levels.

Current, trend is likely to remain positive and expected to continue towards 9,900-9,950 levels.

Here is a list of top five stocks which can give up to 15% return in the short term:

Voltas: BUY| Target Rs530| Stop Loss Rs 445| Upside 11%

After witnessing a sharp rally from Rs420 to Rs510, stock observed profit booking at higher levels and retraced towards Rs450 levels. However, since then it has taken support at its 50-days EMA and once again has managed to hold back its gains above Rs480.

Furthermore, on the weekly charts, the stock has formed a bullish flag formation and is on the verge of giving break out above its previous resistance level. Traders can accumulate the stock in a range of Rs485-475 for the target of Rs530 with a stop loss below Rs445.

Bharat Forge: BUY| Target Rs1,290| Stop Loss Rs1050| Upside 13%

In the recent past, the stock has given a sharp rally fall from Rs1200 levels towards Rs1050 levels. It took support at its 100-days EMA. Moreover, on the daily charts, it has been trading in the upward channel and making higher highs and higher lows with consistent volumes.

As per current structure, it has formed an ascending triangle formation on the daily charts and is on the verge of giving a breakout above its resistance level. Traders can accumulate the stock in a range of Rs1,150-1,140 for the target of Rs1,290 with a stop loss below Rs1,050.

Hero MotoCorp: BUY| Target Rs4050| Stop Loss Rs3620| Upside 7%

After testing its all-time highs of around Rs3865 levels, the stock has retraced towards Rs3680 levels and took support at its 50-days EMA.

Thereafter, it has been trading high as pull back in prices has taken stock towards Rs3,800 levels once again. Moreover, it has managed to recover more than 61.8 percent of Fibonacci retracement level of its previous fall which is considered as healthy recovery.

Furthermore, on weekly charts, it has formed symmetrical triangle formation in an uptrend which is generally traded as a continuation pattern.

Traders can accumulate the stock in a range of Rs3785-3775 for the target of Rs4050 with a stop loss below Rs3,620.

REC: BUY| Target Rs207| Stop Loss Rs165| Upside 15%

The stock has seen a hefty downside in prices from Rs220 levels till Rs165 levels in just two months. However, it has managed to take support around its 200 Days EMA and recovered from there to once again surpass its 100 days EMA.

Currently, it has formed symmetrical triangle formation on the daily charts and is on the verge of giving breakout above its recent resistance level. So, traders can accumulate the stock in a range of Rs185-180 for the target of Rs207 with a stop loss below Rs165.

SAIL: BUY| Target Rs70.25| Stop Loss Rs57.50| Upside 13%

After taking support at its 200-days EMA, the stock has recovered sharply from its lows and has given a breakout above 60 levels in the past trading sessions.

On the daily charts, it has formed a cup & handle formation and once again is on verge of giving a fresh breakout. Moreover, secondary indicators like RSI and stochastic are also supporting upside move with positive divergence.

Traders can accumulate the stock in a range of Rs63-61 for the target of Rs70.25 and a stop loss below Rs57.50.

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