Want to make a short-term investment in the stock market to earn double-digit returns on your investment? Than this blog is for you. Our analyst Mr. at GEPL Capital has picked these 5 best stocks to invest in India for the short term 2022. Every week on Friday we come out with the 5 best stocks to buy in India for the short term 2022. Considering Nifty Fluctuations our technical analyst has picked these 5 stocks to invest for short-term investment in 2022.
If you are willing to invest in these stocks for the short term you need a Demat account So, claim your Demat account in a few easy clicks. Become a part of one of the leading share brokers in the Mumbai GEPL Capital by clicking here. Well, you can also invest in these stocks via the GEPL capital PRO app. we have various technology platforms for your online trading journey. And let's start with the best stocks to buy in India for the short term 2022. But, before that let's take a look at market fluctuations.
On lower timeframes, the RSI indicator shows price momentum divergence.The resistance zone for the Nifty is 18270-18330, while the support zone is 17900.The index appears to be overstretched and could be rangebound, with a decline to 17900-17950 levels. If the index succeeds to cross 18330, it will be able to rise higher towards the all-time high of 18600.
For the previous ten weeks, TATACHEM had been trading in a band of 955-825. On the 13th of January, prices gained traction and managed to break through the 10-week high, indicating that the uptrend was gaining traction. There was also a significant increase in volume, indicating that the uptrend was gaining traction.
The RSI on the weekly chart has managed to stay above 50 throughout the decline and is now going higher towards the overbought level, indicating that bullish momentum is building as prices rise. Going forward, we expect prices to rise towards the 1158 level. If prices can breach and hold above the 1158 level, we might see more gains into the 1266 and 1370 levels. On a daily closing basis, we recommend a rigorous stop loss of 955.
Sequent Scientific has lately broken out of a falling trendline and 50-day moving average resistance with high volume. The stock has broken above the previous swing high of 185, thereby negating the lower high lower low pattern. The RSI indicator has confirmed the breakout by rising, indicating strong momentum.
Based on the price action and momentum indicators, we believe this stock is a great candidate for bottom fishing.On a daily closing basis, one can consider buying Sequent Scientific with a target of 225 and a stop loss at 175.
Since testing a high of 1534 in August 2021, TATASTEEL has been trending lower in a corrective phase. After finding support near 1065, which is close to the 38.2 percent retracement level of the up move from 250-1534, the stock appears to have halted its down move and entered a consolidation. Prices gained traction on the 13th of January 2022, breaking over the 8-week high on above-average volume.
On the weekly chart, the RSI is heading higher after creating a positive hinge near the 40 mark, indicating that the bullish momentum in the prices is increasing.Moving forward, we predict prices to rise towards the 1370 mark, followed by 1480. On a daily closing basis, we recommend a rigorous stop loss of 1150.
ACC: - CMP: 2558 upside potential of about 15% from the current level.
The stock has been forming a Higher High Higher Low pattern since May 2020 on the monthly charts and sustaining at Life Time High levels which shows a bullish undertone of the stock for the medium to long term. The stock has been consistently taking strong support @ 20 Week SMA since June 2020 and has been maintaining bullish formation of Higher Top Higher Bottom pattern indicating positive sentiments of the stock for the medium to long term. On the indicator front, the RSI plotted on the medium to long-term charts can be seen moving higher and sustaining above 60 marks, indicating positive momentum of the stock.
Going ahead the immediate resistance is placed at 2758 (38.2% extension level of 895 – 2509 projected from 2142) followed by 2949 (50% extension level of 895 – 2509 projected from 2142). The key support levels are 2437 (Gap Support) and 2305 (20 Week SMA). One can buy the stock at current levels (2558) for the target of 2758 followed by 2949 with a strict stop loss of 2437 on a closing basis.
UPL: - CMP: 765 Upside potential of about 13%.
On the monthly chart, the stock has sustained at 3 months’ high after the correction from 864 to 686 levels and it has maintained a bullish pattern of Higher Top Higher Bottom indicating a positive undertone of the stock for the medium to long term.
On the weekly charts, the stock has formed CIP formation (Change In Polarity) near 686 levels which confirm bullish sentiments of the stock for the medium to long term. On the daily charts, the stock has bottomed out after taking strong support @ 200 Day SMA and started moving upwards and sustained above it's previous swing high which indicates the stock is now ready for the next up move.
The momentum indicator RSI plotted on multiple time frames can be seen placed above the 55 levels and moving higher, indicating that the stock is currently in a strong bullish momentum. The resistance is placed at 864 (Life Time High) followed by 974 (61.8% extension level of the rise from 399-864 projected from 686). The key level to watch for on the down is 730 (Swing Week Low) followed by 686 (Swing Low). One can buy the stock at current levels (765) for the target of 864 followed by 974 with a strict stop loss of 730 on a closing basis.
So these 5 were the stocks that you should buy for the short term in India for 2022. You can use our GEPL PRO app to buy desired stocks and can start trading with a few easy steps. Our customer support team will always be there to assist you.
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Note:- This is just a glance at our article on moneycontrol.com to read the entire article.
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