Hot Stocks | Sunflag Iron, Elecon Engineering, DB Corp poised for 14-16% short-term returns

Nifty recently touched the 20-day moving average (20-DMA), indicating potential strength. To confirm further upside, Nifty needs to break above 19,825. On breaking this level, we can anticipate a move towards the 19,950-20,000 range. However, if Nifty slides below its 20 DMA of 19,600, this could indicate a correction towards the 19,300-18,888 level.
Similarly, Bank Nifty is also showing respect to its 20 DMA, but the 45,800-46,200 range is currently acting as a strong supply zone. A break above this range could trigger a short-term rally towards the 46,500-47,000 region. On the other hand, if Bank Nifty dips below 45,400, gains can be expected towards 44,500.
Market performance will be influenced by FII inflows due to their recent net selling trend. However, the broader markets are doing well and individual stocks could show moves in relation to the current earnings season.
The clock displays a classic uptrend with a symmetrical triangle breakout accompanied by strong volume. The overall structure is very bullish, as it remains above its key moving averages.
Looking forward, the immediate resistance lies at Rs 250 and if this level is broken, there is a chance the price will rise to Rs 270 and above in the near future. Conversely, in any correction, the key support to watch is Rs 220.
The watch has a strong bullish pattern as it sees a triangle breakout on the longer time frame. It has made a solid foundation at Rs 710. The RSI (Relative Strength Index) and MACD (Moving Average Convergence Divergence) indicators support the current strength of the stock’s momentum.
On the other hand, Rs 800 is the immediate resistance zone; Above that, we can expect the price to rally to Rs 860 in the near term. On the other hand, Rs 725 is the key support in any correction
The watch exhibits a classic bullish pattern, which is characterized by a breakout of a bullish flag pattern. Furthermore, it is currently trading above its key moving averages, further confirming the bullish sentiment. The momentum indicators also show a positive view, adding to the strength of the current trend. Looking ahead, the immediate target levels on the upside are Rs 240 and Rs 260. If the bullish momentum continues, the watch could target these levels in the near future.
On the downside, the key support to watch is at Rs 210, which should provide immediate support in any potential correction.