Hot Stocks | Pidilite Industries, Bharat Dynamics, Ceat may deliver up to 13% returns in short term

Results on May 4: Housing Development Finance Corporation, Hero MotoCorp, Adani Enterprises, Dabur India, Tata Power, TVS Motor, Sundram Fasteners, 360 ONE WAM, Aptus Value Housing Finance, Blue Star, Bombay Dyeing & Manufacturing Company, Ceat, Firstsource Solutions, IDFC, Jammu & Kashmir Bank, Mindspace Business Parks REIT, and United Breweries will be in focus ahead of quarterly earnings on May 4.

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The Nifty remained mostly rangebound, following a timid start as the investors await the Fed rate decision. On the daily chart, a small red-bodied candle has formed. The sentiment remains positive as the index has sustained above 18,000.

Over the short term, the index is likely to remain in the range of 18,000 and 18,200. A decisive move above 18,200, may take the index towards 18,500.

The Bank Nifty remained sideways ahead of the Fed rate decision. The short-term range remains intact at 43,000-43,500. A decisive move on either side may induce a directional move in the index.

Immediate support for Bank Nifty is visible at 43,150. On the other hand a move above 43,500 may induce a rally towards 44,000.

Here are three buy calls for short term:

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Rupak De

Senior Research Analyst|LKP Securities

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Pidilite Industries: Buy | LTP: Rs 2,464 | Stop-Loss: Rs 2,400 | Target: Rs 2,590 | Return: 5 percent

The stock has moved above its recent consolidation on the daily chart, suggesting a rise in optimism. Besides, the stock has moved above its short-term moving average (50-EMA - exponential moving average).

The momentum oscillator RSI (relative strength) is in a bullish crossover. Immediate support is visible at Rs 2,400. On the other hand, the stock may rally towards Rs 2,590.

Bharat Dynamics: Rs 1,035 | Stop-Loss: Rs 1,000 | Target: Rs 1,120 | Return: 8 percent

The stock has moved above its recent consolidation on the daily chart, suggesting a rise in optimism. Besides, the stock has sustained above its critical moving average.

The momentum oscillator RSI is in a bullish crossover. Immediate support is visible at Rs 1,000. On the other hand, the stock may rally towards Rs 1,120.

Ceat: Buy | LTP: Rs 1,638 | Stop-Loss: Rs 1,550 | Target: Rs 1,850 | Return: 13 percent

The stock has moved up following the consolidation breakout on the daily chart. Besides, the stock has moved above its short term moving average (50EMA).

The momentum oscillator RSI is in a bullish crossover. Immediate support is visible at Rs 1,550. On the other hand, the stock may rally towards Rs 1,850.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.