V-Guard Industries, Triveni Turbine potentially offer up to 12% short-term returns - Here's why

According to technical analyst Rajesh Bhosale at Angel One, V-Guard Industries and Triveni Turbine are poised for short-term gains for the following reasons:

V-Guard Industries:

The stock has shown impressive surges during February, surpassing previous weekly swing highs.

This breakout resembles a 'Saucer' formation and is supported by robust trading volumes, indicating strong bullish sentiment.

Corrections in price have been met with rebounds, suggesting a dominant presence of bulls in the market.

The stock is entering uncharted territory, signaling potential for further upward movement.

The recommendation is to buy V-Guard around Rs 338 - 335, with a stop-loss of Rs 324 and a target of Rs 366, offering an expected return of 8 percent.

Triveni Turbine:

The stock has encountered significant resistance around Rs 470 levels for over five months but is now breaking out from this consolidation phase, resembling a 'Channel' pattern.

Volume analysis indicates higher trading volumes during uptrends compared to downtrends, suggesting strong buying interest.

Prices are consistently forming 'higher top higher bottom' patterns and are comfortably above key moving averages, reinforcing the bullish outlook.

The recommendation is to buy Triveni Turbine around Rs 492 - 488, with a stop-loss of Rs 468 and a target of Rs 550, offering an expected return of 12 percent.

These recommendations are based on technical analysis and the current market conditions. However, it's essential to consider various factors and conduct thorough research before making any investment decisions.

Disclaimer: Bizz Buzz News encourages users to seek advice from certified experts before making any investment decisions.