Top 10 Stocks to Watch: Analysts Predict 8-16% Surge in Next 3-4 Weeks

<ul>
  <li>The Indian stock market benchmark Nifty 50 hit a fresh record high of 23,043.20 in intraday trade on Monday, May 27.</li>
  <li>Sustained buying by domestic investors and positive global cues supported the market amid easing election-related jitters.</li>
  <li>"For the week, we expect Nifty to trade in the range of 23,500-22,500 with a positive bias," said analysts at Axis Securities.</li>
</ul>
<p><strong>Discover the latest trends and insights in the Indian stock market as Nifty 50 hits a new record high, supported by positive global cues and domestic investor confidence.</strong></p>
<h2><strong>Nifty 50 Reaches New Record High</strong></h2>
<p>The Indian stock market benchmark Nifty 50 started the new week on a positive note, hitting its fresh record high of 23,043.20 in intraday trade on Monday, May 27. This remarkable performance was driven by sustained buying from domestic investors and positive global cues, which helped ease election-related jitters. Analysts expect the Nifty 50 to move between 22,500 and 23,500 this week.</p>
<h3><strong>Technical Indicators Signal Positive Bias</strong></h3>
<p>Analysts at Axis Securities observed that the weekly RSI and momentum oscillator Stochastic have both turned positive and are above their respective reference lines, indicating a positive bias. "If Nifty crosses and sustains above the 23,200 level, it would witness buying, leading the index towards 23,400-23,500 levels. However, if the index breaks below the 22,800 level, it would witness selling, taking the index towards 22,600-22,500," they noted.</p>
<h2><strong>Stock Recommendations for the Upcoming Weeks</strong></h2>
<p>Market experts suggest picking stocks with strong technical indicators as the Indian stock market may see some volatility in the near term due to the upcoming election outcome. Based on the recommendations of several experts, here are 10 stocks that may rise 8-16 per cent in the next 3-4 weeks:</p>
<h3><strong>Infosys</strong></h3>
<p>Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, recommends taking a long position in Infosys within the price range of ₹1,445 to ₹1,470. The target for this trade is ₹1,575, with a stop loss at ₹1,399 on a daily closing basis.</p>
<h3><strong>Sumitomo Chemical India</strong></h3>
<p>Patel also suggests entering long positions in Sumitomo Chemical India within the price range of ₹430-₹440. The target for this trade is ₹495, with a stop loss at ₹405 on a daily closing basis.</p>
<h3><strong>MTAR Technologies</strong></h3>
<p>After a significant downturn, MTAR Technologies has found stability within the ₹1,800-₹1,900 range. Patel recommends buying the stock within the ₹2,100-₹2,150 price range, targeting ₹2,450, with a stop loss at ₹1,962 on a daily closing basis.</p>
<h3><strong>Shriram Finance</strong></h3>
<p>Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher, suggests buying Shriram Finance for an upside target of ₹2,670, keeping the stop loss at ₹2,290.</p>
<h3><strong>Fertilizers and Chemicals Travancore (FACT)</strong></h3>
<p>Koothupalakkal also recommends buying FACT for an upside target of ₹830, with a stop loss at ₹684.</p>
<h3><strong>Chennai Petroleum Corporation</strong></h3>
<p>Chennai Petroleum Corporation has shown a higher bottom formation on the daily chart. Koothupalakkal suggests buying the stock for an upside target of ₹1,075, with a stop loss at ₹927.</p>
<h3><strong>Adani Ports and Special Economic Zone</strong></h3>
<p>Axis Securities recommends buying Adani Ports within the ₹1,400-₹1,372 range, targeting ₹1,542-₹1,585, with a stop loss at ₹1,308.</p>
<h3><strong>Samvardhana Motherson International</strong></h3>
<p>Samvardhana Motherson has broken out above a two-year rounded bottom formation at ₹134. Axis Securities suggests buying the stock within the ₹138-₹134 range, targeting ₹148-₹155, with a stop loss at ₹130.</p>
<h3><strong>Emami</strong></h3>
<p>Emami has confirmed a breakout above the bullish flag pattern at ₹524. Axis Securities recommends buying the stock within the ₹540-₹530 range, targeting ₹587-₹615, with a stop loss at ₹509.</p>
<h3><strong>Metropolis Healthcare</strong></h3>
<p>Metropolis Healthcare has confirmed a breakout above the multiple resistance zone near ₹1,900. Axis Securities suggests buying the stock within the ₹1,945-₹1,907 range, targeting ₹2,210-₹2,285, with a stop loss at ₹1,785.</p>
<h3><strong>Conclusion</strong></h3>
<p>The Indian stock market continues to show resilience and potential for growth, as evidenced by the Nifty 50's new record high. Investors are advised to consider stocks with strong technical indicators and to stay informed about market trends and developments. With the right strategies and careful analysis, there are significant opportunities for gains in the coming weeks.</p>