Stock Tips For Short Term : The mood of fluctuations remains in the stock market. In the absence of a big trigger, any negative news can cause a fall in the market. At the same time, the fear of recession in America and tension in the Middle East are also spoiling the sentiment. In such a situation, the market is now waiting for a fresh positive trigger. Market experts believe that until the market sees any positive sentiment afresh, it can remain volatile. In such a situation, experts are advising investors to follow a stock specific approach before getting any positive trigger. Investors should invest in stocks with strong fundamentals.
Talking about the present, there are many stocks that have broken out after a long time and their outlook is also strong. Brokerage house Axis Securities has also given a list of some such stocks (Stocks to Buy). These stocks (Stock Tips) are looking strong on the technical chart and can give 15 to 23 percent return (Stocks to Buy for Short Term) in just 3 to 4 weeks i.e. in the month of April itself.
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Alkem Laboratories
CMP: Rs 5845
Buying Range: Rs.5750-5636
Stop loss: Rs 5300
Upside: 14% – 17%
Alkem Lab has broken out of the consolidation zone with a strong bullish candle at 5530 level on the weekly chart, which is an indication of an uptrend in the mid-term. This breakout has happened with good volume which also indicates increased participation. Weekly strength indicator RSI is in bullish mode. The stock may soon show the level of 6485-6650.
Affle (India)
CMP: Rs 1595
Buying Range : Rs.1540-1510
Stop loss: Rs 1415
Upside : 14%-19%
Affle (India) has broken out of the mid-term rounded bottom pattern on the weekly chart with a strong bullish candle at 1500 levels, which indicates an uptrend in the mid-term. The breakout has happened with good volumes, which also indicates increased participation. The stock is trading above its 20, 50, 100 and 200 days short and mid-term moving averages, which is a positive sign. Weekly strength indicator RSI is in bullish mode. The stock may soon test 1745-1815 levels.
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Excel Industries
CMP : Rs 1453
Buying Range : Rs.1375-1347
Stop loss: Rs 1285
Upside : 11%-15%
Excel Industries has broken out of multiple resistances with a strong bullish candle at 1260 level on the weekly chart, which is an indication of an uptrend in the mid-term. This breakout has happened with good volume which also indicates increased participation. The stock is currently making higher highs and higher lows on the weekly chart, and is trading above the upward sloping trendline. Weekly strength indicator RSI is in bullish mode. The stock may soon test 1513-1565 levels.
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AIA Engineering
CMP: Rs 4748
Buying Range : Rs.4685-4591
Stop loss: Rs 4285
Upside : 15%-19%
AIA Engineering has broken out of a rounded bottom pattern with a strong bullish candle at 4600 level on the weekly chart, which is an indication of an uptrend in the mid term. This breakout has happened with good volume which also indicates increased participation. The stock is trending in a rising channel formation and after finding support at the lower band recently, is now moving towards the upper band of the formation. This is a buy signal for the mid term. Weekly strength indicator RSI is in bullish mode. The stock may soon show the level of 5345-5500.
(Disclaimer: Investing or selling stocks is advised by the brokerage house. These are not the personal views of Financial Express. There are risks in the market, so take expert advice before investing.)
