Stocks to buy: Fine Organics, Bharat Wire Ropes among top short-term trading bets

Nifty on Friday zipped past the psychological mark of 17,300 level, only to see profit booking in the last one hour of trade. Despite a gap-up start, the 50-pack index ended up forming a decent bearish candle on the daily chart. The 50-pack formed an indecisive candle on the weekly scale. Analysts said the index could stay in a range in the coming week and advised a couple of small and midcap stocks that could offer healthy returns to traders in the near term.
 
Computer Age Management Services | Buy at Rs 2,572 | Target Rs 2,780/2,965 | Stop Loss at Rs 2,395
 
Computer Age Management Services’ (CAMS) weekly chart indicates a decent upside bounce so far this week. After showing a sideways range movement in the last three weeks, the stock price is now in an attempt to break above the range at Rs 2,570-2,600 level. After the formation of the intermediate downtrend with lower tops and bottom formations over the last many months, the stock price has nullified the bearish pattern recently. Presently, it has started to form a positive sequence like higher top-bottom on the weekly timeframe. Volumes also have started to expand during upmove in the stock price and weekly the RSI gives a positive indication. Buying can be initiated in CAMS at at Rs 2,572. Traders can add more on dips down to Rs 2,475, and wait for the upside targets of Rs 2,780 and Rs 2,965 in the next 3-5 weeks. Place a stop loss of Rs 2,395.
Nagaraj Shetti, Technical Research Analyst at HDFC Securities
 
Fine Organics Industries | Buy above Rs 6,968 | Target Rs 7,450 | Stop loss Rs 6,770
Fine Organics Industries is consolidating in a downward-sloping channel and is trying to move out of a consolidation range. The RSI has made a breakout from the falling trendline resistance ahead of the price breakout, which indicates a potential upside in the stock. The price is currently placed above all key moving averages, i.e., 50-day, 100-day, and 200-day moving averages. An increase in volumes during this consolidation adds weight to the bullish setup on the charts. A fresh buy signal on Parabolic SAR Indicator (PSAR) has occurred. This indicates a likely change of the trend on the upside.   
 
Foram Chheda, CMT, Technical Research Analyst and founder at chartanalytics.co.in.
 
Bharat Wire Ropes | Buy at Rs 118.70  | Target Rs 129/Rs 140 | Stop loss at Rs 110
 
The weekly chart of Bharat Wire Ropes indicates a sharp uptrend over the last few months. The stock price has moved up as per the larger degree of higher top- bottom over the period of time. After moving into a narrow range in the last few weeks, the stock price is in an attempt of upside breakout of the range at Rs 122-123 levels. Volume has started to expand during the upside breakout and the weekly RSI shows positive indication. The overall chart pattern of Bharat Wire indicates long trading opportunity. One may look to create positional long. Buy the stock at 118.70, add more on dips down to Rs 114 and wait for the upside targets of Rs 129 and Rs 140 in the next 3-5 weeks. Place a stop loss of Rs 110.
Nagaraj Shetti, Technical Research Analyst at HDFC Securities