We can see short covering on every dip as Put writers are once again seen active in Tuesday’s sessions. We have seen Put writing in 10,300, 10,200 puts and unwinding in calls.

As per the current derivatives data, Nifty can move towards 10,450-10,500 in coming sessions amid further short covering by call writers.

The derivative data indicates bullish scenario to continue with Nifty having multiple strong supports at lower levels around 10,250, 10,200 & 10,100 spot levels.

Here is a list of top five stocks which could give up to 16% return in short term:

Tata Elxsi: BUY| Target Rs1075| Stop Loss Rs850| Return 15%

After taking support at its 100-days exponential moving average (DEMA) on the daily charts, the stock has been relatively trading higher along with the consistent rise in volumes.

The stock gave a fresh consolidation breakout this week above the recent resistance level placed around Rs920, supported with positive divergence in the secondary indicators such as relative strength index (RSI) and stochastic.

Traders can accumulate the stock in a range of Rs930-935 for the target of Rs1075 and a stop loss placed below Rs850.

FDC: BUY| Target Rs232| Stop Loss Rs190| Return 13%

The stock has witnessed a smart recovery from lower levels in the recent past and has once again managed to hold well above its 200-DEMA on the daily charts.

Additionally, on the weekly charts, the stock has formed an inverted head and shoulder formation and has also given a breakout in prices above the neckline of the formation.

Traders can accumulate the stock in a range of Rs205-209 for the upside target of Rs232 and a stop loss placed below Rs190.

Ratnamani Metals & Tubes: BUY| Target Rs1125| Stop Loss Rs885| Return 15%

The stock has been trading in a thin range of Rs850-950 from the last ten weeks with multiple supports placed on the downside at its short and long-term moving averages.

However, last week the consolidation breakout in prices has been witnessed on charts with rising volumes above the Rs950 levels.

The breakout in prices with decent volumes suggest more upside in coming sessions. Traders can accumulate the stock in a range of Rs970-980 for the target of Rs1125 and a stop loss placed below Rs885.

Arshiya: BUY| Target Rs105| Stop Loss Rs82| Return 16%

After giving a consolidation breakout above Rs75 level, the stock has tested Rs90 in the recent past, but, since then prices are seen trading sideways as the stock is maintaining a range of Rs80-95 from the last six weeks.

The stock gave a fresh breakout this week in prices and has also risen above the rectangle formation made on the daily charts.

The pattern is traded as continuation pattern of the previous trend. Traders can accumulate the stock in a range of Rs90-94 for the target of Rs105 and a stop loss placed below Rs82.

Sadbhav Infrastructure Projects: BUY| Target Rs156| Stop Loss Rs120| Return 17%

The stock has formed a bullish flag formation on the daily charts and has also given a breakout above the falling trend line of pattern formation. It has also risen above its recent resistance to Rs130 levels in the past session.

Additionally, rising volumes with rising prices suggest more upside in prices in the coming sessions as well. Traders can accumulate the stock in a range of 133-136 for the target of 156 with a stop loss below 120.

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