Stock Market Investment for Short Term: Do you want high returns in 3 to 4 weeks by investing money in the market for short term? If yes then you have a good chance. Some fundamentally strong stocks are ready to show a sharp rally within the coming 1 month. Brokerage house Axis Securities has given a list of 3 such stocks, which can strengthen by 17 to 18 percent from the current price in the next 20 to 30 days. That means you can earn a profit of up to Rs 90 thousand by investing Rs 5 lakh in the market for a month. If you invest money in these now, you can have a party in the first month of the new year. The list of these shares includes Action Construction Equipment, Aegis Logistics and Dr. Reddy’s Laboratories.
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Action Construction Equipment
CMP : Rs 1493
Buy Range: Rs 1460-1432
Stop loss: Rs 1340
Upside: 15%–18%
Action Construction decisively broke the ‘Falling Channel’ pattern at 1460 levels on the weekly chart with strong volumes, indicating the continuation of the mid-term uptrend. This breakout has happened with good volume, which is a sign of increasing participation in the stock. The stock found support at the 38% Fibonacci retracement level of the rally from 644 to 1695, near 1168, and witnessed a sharp bounce back, creating a strong mid-term support base. The weekly RSI strength indicator is above its reference line, which is positive. This stock can show a level of Rs 1660-1700 in 3 to 4 weeks.
Aegis Logistics
CMP : Rs 835
Buy Range: Rs 825-809
Stop loss: Rs 758
Upside : 14% –17%
Aegis Logistic remains above the mid-term upward sloping trendline with a bounce, confirming strong support at the trendline. The increase in volume activities at the support level near the upward sloping trendline shows that market participants are building their positions in this important support level. The stock remains above its key short-term and mid-term daily moving averages (20, 50, 100, and 200 days), which is a positive sign. Weekly strength indicator RSI has crossed its reference line, which is a buying signal in the stock. The share may soon show a level of Rs 935-955.
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Dr. Reddy’s Laboratories
CMP: Rs 1345
Buy Range: Rs 1330-1304
Stop loss: Rs 1275
Upside: 7% –9%
Dr. Reddy’s has made a breakout of the falling channel pattern at 1288 levels on the weekly chart, indicating the continuation of the mid-term uptrend. This breakout has happened with good volume, which is a sign of increasing participation in the stock. The stock is forming a higher high and higher low pattern on the weekly chart, which is maintaining its position above the mid-term uptrend. Weekly strength indicator RSI has crossed its reference line, which is a buying signal in the stock. The share may soon show a level of Rs 1405-1430.
(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.)
