GNFC, L&T Finance, RVNL among stocks that analysts picked for short term trade

Domestic brokerage firms including LKP Securities and SMC Global are positive on the select stocks, namely- Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC), L&T Finance Holdings Ltd, Muthoot Finance Ltd, Rail Vikas Nigam Ltd (RVNL) amid the rising volatility in the domestic markets. The brokerage firms believe that these stocks are headed for a strong upside in the near-term on the basis of their technical setup. Here what the analysts said about these counters:Gujarat Narmada Valley Fertilizers & Chemicals | Buy | Target Price: 750-760 | Stop Loss: Rs 600 GNFC has been trading in a rising channel with formation of higher bottom pattern on weekly charts while prices are also holding well above its 200 days exponential moving average on daily interval as well. At current juncture, the stock has given a fresh breakout above the Ascending triangle pattern visible on weekly intervals. The breakout has been observed along with positive divergences on secondary oscillators along with rise in average volumes as well. Therefore, one can buy the stock in the range of Rs 660-665 levels for the upside target of Rs 750-760 levels with stop loss below Rs 600 levels.Recommended by: SMC GlobalL&T Finance Holdings | Buy | Target Price: 155 | Stop Loss: Rs 131 L&T Finance is following a higher high and higher low pattern on the daily chart, which is a bullish sign. The positive pattern is accompanied by good trading volume, indicating strength in the price action. The Relative Strength Index (RSI) indicator on the daily chart is in the positive zone, supporting the bullish sentiment. Consider establishing a long position in the stock within the range of Rs 136-137, while setting a strict stop loss at Rs 131. On the upside, aim for a target price of Rs 155.Recommended by: Rupak De, Senior Technical analyst at LKP Securities.Muthoot Finance | Buy | Target Price: 1,440-1,450 | Stop Loss: Rs 1,180 In recent past, Muthoot Finance made its 52 week low of Rs 911.25 in month of March 2023 and given a V shape recovery into the prices to once again reclaim a move above its 200 days exponential moving average on daily time frame. The Stock took a rally from Rs 911 levels towards 1380 levels in a short span of time. At current juncture, the stock has given a fresh breakout, on charts, after a series of prolonged consolidation phases of nearly eleven weeks. Breakout has been observed above the falling trend line of downward sloping channel. Therefore, one can buy the stock in the range of Rs 1,280-1,290 levels for the upside target of Rs 1,440-1,450 levels with stop below Rs 1,180 levelsRecommended by: SMC GlobalRail Vikas Nigam | Buy | Target Price: 175 | Stop Loss: Rs 150 RNVL has reversed from a prior demand zone, indicating the potential for an uptrend to continue. Furthermore, the price has crossed back above the 50-day simple moving average (50 SMA) on the daily chart. Consider establishing a long position in the stock within the range of Rs 155-157, while setting a strict stop loss at Rs 150. On the upside, aim for a target price of Rs 175.Recommended by: Rupak De, Senior Technical analyst at LKP Securities.