Stocks to buy: These five stocks look buy-worthy on technical charts

Indian equity benchmarks have been volatile this year so far owing to geopolitical concerns, rise in commodity prices and prospects of rate hikes. While the market is expected to remain volatile in the short term, the medium and long term outlook of the market is positive with economy picking pace and earnings of the India Inc rising. However, the positive outlook of the market does not mean one should get carried away, buying stocks without proper research on their fundamentals and technical. Bharat Gala, President - Technical Research, Ventura Securities, has recommended five stocks that look attractive on technical charts. Gala recommends buy on these stocks for the medium term (up to a year). Disclaimer: The views and recommendations made are those of individual analysts or broking companies, and not of MintGenie.

Solar Industries India: The stock corrected and made a low of ₹2160 in Feb 2022. Recently, it moved above the intermediate high of ₹2600 and made a high of ₹2616 which suggests resuming an uptrend. The ROC and Williams % R indicator suggest a possibility of a strong up move on the positive side. The possible targets are ₹3,300-4,000. Stop-loss should be observed at ₹2100.

Polyplex Corporation: The stock consolidated between Oct 2021 to March 22 period. Recently it gave range breakouts and made a high of ₹2157 accompanied by supportive volumes. The KST, Aroon Up/Down and Vortex Indicator suggest a possibility of a strong up move on the positive side. The possible targets are ₹3500 and the stop loss should be observed at ₹1490.

Century Plyboards: From Sept 21 to March 2022, the stock traded in a range of ₹540 to ₹700 price zone, and again has resumed its uptrend with above average volumes. Recently the stock gave a range breakouts and made a high of ₹702 accompanied by supportive volumes. The Demand index and the ADX indicator suggest a possibility of a strong up move on the upside. The possible targets are ₹900-1200 and the stop loss should be observed at ₹460.

Titan Company: From Oct 21 to March 22, the stock traded in a range of ₹2200 to ₹2700. Recently the stock gave a range breakouts and made a high of ₹2720 which is above all previous highs, accompanied by supportive volumes. The KST, Aroon Up/Down and Vortex indicator suggest a possibility of strong upmove on the upside. The possible targets are ₹3700-4300. Stop-loss should be observed at ₹2200.

Brigade Enterprises: From Nov to Dec 21, the stock traded in a range of ₹400 to ₹540. Recently, it gave range breakouts and made a high of ₹541 accompanied by supportive volumes. The ADX, PVT and ROC indicators suggest a possible firm uptrend. The possible targets are ₹675-800. Stop-loss should be observed at ₹345.