10 Stock to Buy for short Term investment in India
As the market outperforms the budget blues, here are 10 stock ideas for the short term Here are the stock ideas that the brokerage said should deliver solid gains over the next few weeks. Below are the best 10 Stock to Buy for short Term investment in India
“If seen, the short-term trend is weak for the next few seasons and is likely to continue even further.”
Mumbai: Analysts have struggled with the idea of making money for the near term following a week-long loss largely due to the surge in the Sensex and the Nifty.
“The 11,875 level should be an immediate obstacle for the Nifty. We can see an improvement wave extending below that level to the 11,500 and 11,350 levels, 10 Stock To Buy For Short Term Investment In India
In present, the Nifty is trading near the 200-day SMA, which means, if it stays above the 11,725 level, we can see relief at the 11,800 and 11,875 levels. Weak long positions should be minimised by any pullback. However, we can invest in strong companies between the 11,350 -11,500 level. Given this background, here are some stock ideas that brokerages have said should deliver solid gains over the next few weeks. Best 10 Stock to Buy for short Term investment in India 10 Stock To Buy For Short Term Investment In India
// Here are some stock ideas that should deliver solid gains…
Target price Rs 152 / Stop loss Rs 134
This counter has seen a fresh breakout as it saw a strong close above the 200-day simple moving average, acting as a resistance point at pullback rallies. Thus, if this counter stabilizes above Rs 140, it may eventually move towards Rs 152. Therefore, traders with the condition are advised to buy in this counter on a closed basis with a stop loss of less than Rs 134, the analyst said. 10 Stock To Buy For Short Term Investment In India
2. Divis Laboratories
price Rs 2,200 / Stop loss Rs 1,945
The analyst said that this counter appears to be in its own bull market, as it reached new highs of life in a turbulent market. Once it manages to rise above this psychological barrier, a target of Rs 2,200 can be set for this stock based on channel studies. Traders with the position are advised to buy this stock on a closed basis with a stop loss below Rs 1,945. 10 Stock To Buy For Short Term Investment In India
3. IDBI Bank
price Rs 44 / Stop loss of Rs 33
It is consolidated in the range of ₹38 – 33 on the counter line chart. After a budget-inspired strong move, it appears to be on the verge of a breakout. In anticipation of such a breakout, traders in the position are advised to adopt a two-way strategy of buying now in the Rs 35 – 34 zone in search of a target of Rs 44 and add on the decline. The suggested stop loss for trading is less than Rs 33. 10 Stock To Buy For Short Term Investment In India
price Rs 2,287 / Stop loss Rs 2,079
Over the past year TCS has been consolidating into a range. The stock has surpassed its 200-day EMA, which is a very good and bullish signal, the analyst said, adding that the stock is expected to continue its momentum and show further strength. You can deposit your stock with a target price of Rs 2,287 and a stop loss of Rs 2,079.
5. NIIT Tech
Target price Rs 2,061 / Stop loss Rs 1,804
NIIT Technologies has been in an uptrend for the past one year and is still showing strength. The analyst said that the stock has improved slightly over the last few days. He advised market participants to ride this uptrend as the stock continues its momentum. They recommended a price target of Rs 2,061 and a stop loss of Rs 1,084. best 10 Stock to Buy for short Term investment in India 10 Stock To Buy For Short Term Investment In India
6. Kotak Mahindra Bank
Target price Rs 1,734 / Stop loss Rs 1,631
Kotak Mahindra Bank trades near its 50-day moving average and analysts believe that the stock is expected to return at least 5% in the short term. The stock has reached Rs 1,575 from its short-term lows and the signs are in favor of the prevailing momentum to continue. They recommended a target price of Rs 1,734 and a stop loss of Rs 1,631.
7. United Spirits
Target price Rs 675 / Stop loss Rs 593
United Spirits has seen an edge after the good Q3FY20 results and analysts believe the rally may continue. They prefer this stock from a short term-to-medium term outlook as it has consolidated into a range since January 2019 and is now trading above its 200-day EMA. So it is ready to resume its uptrend again. They recommended a target price of Rs 675 with a stop loss of 593. Best 10 Stock to Buy for short Term investment in India
8. Reliance Industries
price Rs 1,455 / Stop loss Rs 1,345
The stock remained in strong offtake from Rs 1,095 to Rs 1,617 over a 4-month period without any significant improvement. For the past one month, the stock has been going through a price correction and has reached close to 50 percent of its total move, which is very important for the stock as well as the Fibonacci Retracement level, as a strong support for the stock Works in , Said the analyst. They advised the stock to buy at the current level with a stop loss at Rs 1345 and a target price of Rs 1,455.
9.Mahindra & Mahindra
price Rs 580 / Stop loss Rs 520
The stock has a strong demand zone near Rs 520, but due to the day of the event, it saw volatile sessions and made a low of Rs 529 near its demand zone and closed comfortably above its support zone.
This formation resulted in a higher low price pattern, supported by increased volume near the demand zone, reflecting the possibility of a short-term bottom. Therefore, analysts expect the upside momentum to resume and recommend a longer position, with a target price of Rs 580 and a stop loss of Rs 520.
10. HCL Technologies
Target price Rs 625 / Stop loss Rs 575
The stock is constituting higher highs and higher lows on the daily chart, and an increase in volume activity has led to a downside purchase for the stock. On a weekly basis, it is near its previous peak which acts as a strong support for the stock. The analyst said, a major outperformer in the IT space and at the same time it is trading above 200SMA, indicating that the trend is still intact and every dip should be used. Stock with a target price of Rs 625 and a stop loss of Rs 575. We hope you like this article best 10 Stock to Buy for short Term investment in India .