If you are wandering on internet to earn double digit returns on your short term investments in 2022, than you are on the right page. Our technical analyst at GEPL Capital Mr. Vidhnyan Sawant has picked 5 best stocks to invest in India for short term 2022. Every week on Friday our analyst serves these 5 stocks to invest for short term on sliver platter for your portfolio. These are best stocks to buy in India for 2022 been picked by considering nifty fluctuations and major market updates.
If you want to invest in these stocks for short term investment you must need DEMAT account. And, if you don't have one click here to get yours and become the part of one of the leading stock brokers in India. Once your DEMAT is opened you'll get access to our various technology platforms to kick start your journey in Indian stock market. So, let's start with best stocks to invest in India for short term in 2022. Before that let's take a look at the market fluctuations.
Nifty Fluctuation throughout the week:
- Nifty has displayed a price and timing correction from the middle of October 2021. Nifty recently crossed over it's key support level of 15650. Following that, prices were unable to rise over the 15650-mark, indicating that the general trend is downward.
On the indicator front, the daily charts' RSI is maintaining a reading below 50 and setting lower highs, signalling a short- to medium-term bearish trend.
The NIFTY's immediate resistance levels are set around 15650 and 15900, respectively. The index's 15180 and 15000 levels are where it finds support on the downside.
We believe that the NIFTY's present trend is range-bound between 15700 and 15180. If the NIFTY dips below 15180, prices may continue to fall till 14880 and then 14590. If the Nifty maintains above 15900 points, our bearish stance will be disproven.
Best stocks to invest for short term in India for 2022:-
INDHOTEL: - CMP: 223.5 Target 260 Stop Loss 200 upside potential of about 16% from the current level.
- Since April 2021, INDHOTEL has displayed a steady upward trend and has adhered to its trend line. On weekly charts, the stock has displayed favorable activity with strong volumes.
- At the moment, we can see a polarity shift in the stock that is consistent with the uptrend at the level of 216. On the indicator front, positive vibes are there as the RSI charted on the weekly time frame is above the 50 level.
- We anticipate the stock to rise above 260, and if it surpasses 260, it will eventually move into 300 levels.
- For this trade, a stringent stop loss of 200 should be maintained on a daily closing basis.
ASAHIINDIA: - CMP: 487.40 Target 575 Stop Loss 420 upside potential of about 17% from the current level.
- Since the lows in March 2020, ASAHIINDIA has been pursuing a clear-up trend and respecting the trend line.
- The stock, on the daily time frame, broke out of an inverse head-and-shoulders pattern with massive volumes and support from it's key support.
- On the indicator front, the RSI charted on higher time frames is increasing and above the 50 level, indicating that the stock is experiencing bullish sentiment.
If the prices manage to maintain above the 575 mark, we might witness a further upward movement towards the 610 level. In the future, prices may climb higher towards the 575 mark. On a daily closing basis, we advise a strict stop loss of RS. 420.
SAPPHIRE: - CMP: 1030.90 Target 1300 Stop Loss 925 upside potential of about 26% from the current level
- At it's critical support, SAPPHIRE has displayed a smaller base formation that was preceded by a downward trend.
- After a significant downturn, the stock displayed a higher high, higher low shape. Finally, the stock has broken through critical support.
- Additionally, the stock has seen a quicker retracement of it's most recent downward movement, which had bigger volumes and supported the breakout.
- uture price movements are anticipated to occur at higher levels, possibly moving as high as 1300 levels after the 1200 post. On a daily closing basis, we advise a stop loss of 925.
Bonus stocks to invest for short term:
TCS: CMP:- 3440.15 Weekly ROC (+5.48%)
- TCS is in a strong uptrend on the long-term charts, with higher highs and lower lows. After falling from life highs of 4043, the stock saw a change in polarity (CIP formation) around the 3300-3400 zone, where it found support and rallied back.
- The stock is producing a morning star candlestick pattern on weekly charts, indicating a trend reversal. After creating a bullish hinge near the 35 level, the RSI indicator is going higher on a weekly basis.
- In the near future, we can expect the stock to rise towards 3600, than 3835. On the downside, 3155 will be a key support level for this counter.
HDFC LIFE: CMP :- 602.70 Weekly ROC (+0.77%)
- Following a steep pullback from highs of 775, HDFC Life found support near 500 and has since rallied sharply from those levels. The stock is breaking out of a Cup & Handle pattern on the weekly charts, which is a reversal pattern that indicates a trend reversal in the counter.
- With the previous week's breakthrough, the stock was able to pass above the 20-week SMA (569) and close at a three-month high. The weekly RSI indicator has also delivered a breakout and is trading above the 50 mark, confirming our bullish outlook.
- Based on the stock's price action and technical factors, we estimate it will rise towards 655 and than 680.
So!! These were the stocks which could be best stocks to buy in India for the short-term in 2022. If you want to make short term stock investment in any of these you will require a DEMAT account. To get your click here. Stay tuned for our next update.