Stocks that can give more than 15% returns on your short term investment.

Hot Stocks for Short term 14 December 2020 1:54:PM

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For the last 5 weeks, Nifty has steadily developed a higher high higher low trend and checked the highs of life. The index not only broke the 13,500 marks in the previous session but also managed to close above it. On the open interest front, the highest OI of monthly series is seen at 13,000 and the 13,500 Call which seems to be witnessing a long built-up. Well, during this period is there are any stocks to invest in for the short term to expect a good return? GEPL Capital has given contribution for moneycontrol to pick Hot stocks for short term investment.  Our AVP of Technical Research Vidnyan Sawant calls two stocks to invest in for the short term.  

A glance at a Build up:-

The highest attendance is seen at 13,000 on the put side, which seems to be experiencing a brief build-up. We should expect the index's wider range to range between 13,000 and 13,600. We can see a change from 13,600 to 13,000 levels across the spectrum. They continue to stay above the long-term moving averages, i.e. 20, 100, and 200-day SMA, on the indicator front.
As the prices march towards the new lifetime peak, the ADX line pushes higher, which suggests power in the up-move. The RSI is put in the overbought area with a momentum indicator, suggesting any correction from higher levels. We assume that the index is positively biassed based on the above criteria, but we can see some correction in the coming days to 13,300-13,100 levels. We expect the index to range between levels of 13,600-13,100. The main level of support is now located at 13,300, followed by 13,100.

Stocks to invest in for the short term:

DMart had a good breakout and made a new all-time high a few days back at the Rs 2,755 mark. On the weekly charts that have been developing since February 2020, we have seen an upward triangle trend breakout.

After March 2020, Tech Mahindra has pushed higher. At the previous all-time high level of Rs 887, it has provided a strong breakout, maintaining above that level that shows strong strength in the upward trend.

To know more about why and major reasons to invest in these 2 stocks take a look at the entire article @moneycontrol.

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