Stock Tips for Short Term:Despite some ups and downs, the stock market remains at a high level. During this period the election atmosphere is also very hot. The results of the ongoing general elections in the country are a big sentiment for the market. This will have a big impact on the market movement in the coming days. In such a situation, investors should thoughtfully invest money only in stocks with strong fundamentals. Market valuation has increased and any positive or negative sentiment can have a significant impact.
However, many shares are still undervalued or have managed to get out of the consolidation range after a long time. His fundamentals also remain strong. Brokerage house Axis Securities has also given a list of some such stocks (Stocks to Buy), in which breakout has been seen recently. These shares (Stock Tips) are looking strong on the technical charts and can give 12 to 17 percent returns in just 3 to 4 weeks (Short Term Investment) i.e. in the month of April itself.
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Orient Electric
CMP: Rs 230
Buy Range: Rs 226-222
Stop loss: Rs 216
Upside: 7% – 12%
Orient Electric has made a breakout of the mid-term falling channel around the level of 224 on the weekly chart. This breakout has happened with good volume, which is a sign of increasing participation. The stock remains above its 20, 50, 100 and 200 day moving averages, indicating bullishness in the short and mid-term. Weekly strength indicator RSI is in positive momentum. The stock can show a level of 240-250 within 1 month.
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GMDC
CMP: Rs 449
Buy Range: Rs 445-437
Stop loss: Rs 410
Upside: 14% –17%
Gujarat Mineral Development Corporation has made a breakout of the Inverted Head and Soldier pattern around the level of 423 on the daily chart. This breakout has happened with good volume, which is a sign of increasing participation. Daily strength indicator RSI is showing positive momentum. The stock may show a level of 503-515 within 1 month.
BASF India
CMP: Rs 4100
Buy Range: Rs 4030-3950
Stop loss: Rs 3710
Upside: 14% –17%
On the weekly chart, BASF has made a breakout of the rounded bottom pattern around the 3900 level. This breakout has happened with good volume, which is a sign of increasing participation. The stock is making higher highs and higher lows on the weekly chart, while remaining above the upward sloping trendline. This is a sign of bullishness in the stock. Weekly strength indicator RSI is in positive momentum. The stock can show a level of 4550-4650 within 1 month.
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Indiamart Intermesh
CMP: Rs 2800
Buy Range: Rs 2780-2726
Stop loss: Rs 2598
Upside: 11% –16%
On the daily chart, INDIAMART has made a breakout of the symmetrical triangular pattern with a strong bullish candle around the 2700 level. This indicates a rise in the stock. This breakout has happened with good volume, which is a sign of increasing participation. After the breakout, the stock gained momentum and retested the 200 day simple moving average at the level of 2768 and achieved its support level. Daily strength indicator RSI is showing positive momentum. The stock may show a level of 3060-3185 within 1 month.
(Disclaimer: The advice for investing or selling stocks has been given by experts and brokerage houses. These are not the personal views of Financial Express. There are risks in the market, so take expert opinion before investing.)
