Stock to Buy For Short Term : The Indian stock markets are continuing to fall amid the earnings season being weaker than expected, weak demand at the global level, geopolitical tension and uncertainty over rate cuts. Sensex has fallen by about 12 percent from its peak and Nifty by about 13 percent. A market decline of up to 15 percent cannot be ruled out. Unless the market sees some positive sentiment afresh, it may remain volatile. In such a situation, experts are advising investors to follow a stock specific approach before getting any positive trigger. Investors should invest money in stocks with strong fundamentals.
Talking about the present time, there are many shares which have made breakout after a long time and their outlook is also strong. Brokerage house Axis Securities has also given the list of some such stocks (Stocks to Buy). These stocks (Stock Tips) are looking strong on the technical charts and can give 15 to 23 percent returns (Stocks to Buy for Short Term) in just 3 to 4 weeks i.e. in the month of April.
Thyrocare Technologies
CMP: Rs 980
Buy Range: Rs 955-935
Stop loss: Rs 895
Upside: 11% –16%
Thyrocare Tech has made a breakout of the rounded bottom pattern at the level of 950 on the weekly chart in the first week of November, which indicates a mid-term bullish trend. This breakout happened with good volume, which is a sign of increasing participation. The stock experienced a throwback and bounced back into the breakout zone, confirming the continuation of the postbreakout rally. Weekly RSI remains above the strength indicator reference line, which is positive. The share may soon show a level of Rs 1046-1100.
Coforge Ltd.
CMP: Rs 8091
Buy Range: Rs 7980-7820
Stop loss: Rs 7550
Upside: 9% –13%
Coforge is trending within the rising channel. It has recently found support near the lower band and now it is moving towards the upper band of the channel. The stock is forming higher high and higher low patterns compared to the previous week, which is a sign of uptrend in the stock. The stock is above its key short and mid-term daily moving averages (20, 50, 100, and 200-day), which are positive. Weekly RSI remains above the strength indicator reference line, which is positive. The share may soon show a level of Rs 8600-8900.
Dishman Carbogen Amcis
CMP: Rs 215
Buy Range: Rs 205-200
Stop loss: Rs 187
Upside: 16% –18%
Dishman Carbogen has broken out of the consolidation zone of 207-160 on the weekly chart with a strong bullish candle, indicating an uptrend in the mid-term. This breakout happened with good volume, which is a sign of increasing participation. It has closed beyond the weekly upper Bollinger band, which is a buying signal in the stock. Weekly RSI remains above the strength indicator reference line, which is positive. The share may soon show a level of Rs 235-240.
(Disclaimer: The view or advice on the share is given by the brokerage house. These are not the personal views of Financial Express. There are risks in the market, so take expert opinion before investing.)
