Hot Stocks | Sun TV Network, Apollo Tyres and UPL can give up to 38% return in short term

It is going to be crucial for Nifty to sustain above the 18,350-18,400 range in the short term, said Ashis Biswas of CapitalVia Global Research.

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Nifty50 has faced resistance at a very important level of 18,600. Our research shows that it is going to be crucial for the index to sustain above the 18,350-18,400 range in the short term. If the market is able to sustain above the 18,350-level, the index can scale higher levels of 18,750.

We have observed the momentum indicators like RSI (Relative Strength Index) and MACD (Moving average convergence divergence) are indicating that the positive momentum is likely to continue.

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

Sun TV Network: Buy | LTP: Rs 548.55 | Stop Loss: Rs 470 | Target: Rs 700 | Return: 27.6 percent

The stock has been following an uptrend, it has reversed from the support of 200 DMA (daily moving average) as well.

We have seen a formation of an Ascending triangle pattern and expect a breakout above Rs 570. Indicators like MACD and RSI suggest that the positive momentum in the stock is likely to continue.

We recommend a buy in Sun TV Network above Rs 570 with the target of Rs 700. Investors are advised to maintain a stop loss of Rs 470.

Apollo Tyres: Buy | LTP: Rs 231.90 | Stop Loss: Rs 200 | Target: Rs 320 | Return: 38 percent

The stock has formed a pennant pattern on daily chart. We expect a bullish sentiment in the stock. The stock has given a breakout at pennant near Rs 240.

It has also taken support of EMA (exponential moving average) 200 line. We recommend a buy above Rs 250 with a target of Rs 320 with a stop loss of Rs 200.

UPL: Buy | LTP: Rs 733.70 | Stop Loss: Rs 690 | Target: Rs 850 | Return: 15.9 percent

UPL has taken the support of 200-day EMA Line. Earlier stock has given the breakout from level of Rs 700, which is an important support level and then retraced.

We have observed momentum indicators like MACD and RSI, indicating that the positive the stock. We recommend a buy on UPL above Rs 760 with the target of Rs 850. Investors are advised to maintain a stop loss of Rs 690.

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