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We are now in the last quarter of 2022. If you haven't yet begun investing in the Indian stock market, we have an opportunity for you to do so. Here are 5 stocks to invest for short term in India 2023. These stocks might give you double digit returns on your short term investment. Our technical analyst at GEPL Capital, Mr. Omkar Patil, has picked 5 best stocks for short term investment in India 2023.

Every week on Friday, our analyst serves up these 5 best stocks to buy in India for the short term for your portfolio on a silver platter. These are the best stocks to buy in India for short term in 2023 has been picked after considering nifty fluctuations and major market updates.

You must have a DEMAT account if you want to invest in these stocks for the short term investment. And, if you don't have one click here to get yours and become the part of one of the leading full service stock brokers & online stock trading 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 2023. Before that let's take a look at the market fluctuations. 

Nifty Fluctuation throughout the week:

  •  On the weekly timeframe, we can spot that the prices have shown a bounce from the 50% Fibonacci retracement level of the prior advance from 16,747 (September 2022) till 18887 (November 2022), which is again in sync with the bearish trendline which shows change in the polarity.
  • Nifty on daily charts has formed an Outside bar which points towards the rising volatility of the prices.
  • On the indicator front, RSI plotted on the Weekly timeframe is sustaining above 50 mark reflecting strong momentum of the prices.
  • The NIFTY has immediate resistance placed at 18,300 (Multiple Touch Points) followed by 18,450 (Key resistance) levels. The downside support for the index is placed at 18100(Multiple Touch Points) followed by 17,845 (Key Support).
  • By looking at overall trend and evidence supported by indicator we feel that if the NIFTY will move higher to the level of 18,300 followed by 18,450. Our bullish view will be negated if we see prices sustained below 17,845 (Key Support).


Best Stocks For Short Term Investments:


Jindal Stainless (JSL): - CMP: 226.30 Target 260 Stop Loss 200 upside potential of about 14% from the current level

  • JSL is currently trading at its record high which means that the stock already is in strong momentum.
  • In the latest week the counter witnessed a breakout from the rounding bottom pattern indicating continuation of prior uptrend.
  • The Ratio charts against nifty metal is rising which shows the out performance from the stock.


  • The stock is currently trading above its key moving averages (50 & 200 Days EMA) confirms the uptrend.
  • RSI plotted on the weekly timeframe is rising and have sustained above 60 mark which reflects the rising momentum of the underlying trend.
  • Going ahead we expect the prices to go higher to the level of 260 where the stoploss must be 200 on the closing basis.


State Bank of India (SBIN): - CMP: 611.80 Target 724 Stop Loss 557upside potential of about 17% from the current level.

  • Looking at a broader picture of SBIN we can observe that the correction post November 2021 the stock did not get into Lower Low, Lower High formation, this shows positive under tone of the prices.
  • The stock has shown a bounce to the upside after retesting the rectangle pattern, the breakout was witnessed in the last week of October2022. 


  • The bounce in the prices was preceded by the stocktaking support from the 20-week EMA. The 20 weeks EMA has acted as a strong variable support for the prices.
  • RSI on the daily timeframe have shown a bullish reversal which points towards the rising momentum of the prices.
  • Going ahead we expect the prices to go higher to the level of 724 where the stoploss must be 557 on the closing basis.


Kirloskar Ferrous Industries Ltd. (KIRLFER): - CMP: 358.95 Target450 Stop Loss 310 upside potential of about 23% from the current level.

  • KIRLFER has shown a rise from the 50% Fibonacci retracement of the prior advance from 37 level (March 2020) till 313 level (July 2021).
  • The stock in the first week of December 2022 gave a breakout from the rounding bottom pattern, which indicated beginning of the trend to the upside.


  • The breakout is confirmed as it is accompanied by Higher volumes.
  • The stock has shown a bounce while taking support from the 14 weeks EMA which acted as a strong variable support for the prices. The 14 Week EMA acted as a strong variable support for the prices.
  • Going ahead we expect the prices to go Higher to 450 where the stop loss must be 310 on the closing basis.


Mahindra CIE Automotive Ltd (MAHINDCIE):- CMP: 338.65 Target 450 Stop Loss 278 upside potential of about 25% from the current level

  • While looking at the broader picture we can observe that the MAHINDCIE has surpassed its multiyear resistance 313.8, which the prices respected since August 2015.
  • On 12th December 2022 the stock witnessed a breakout from a Inverse Head and Shoulder pattern, which indicated a beginning of uptrend.


  • The ratio Charts against the Nifty AUTO has shown a breakout too which points towards the outperformance e of the stock.
  • RSI on the weekly timeframe has shown a bullish reversal which reflects the rising momentum of the prices.
  • Going ahead we expect the prices to go higher till the level of 450 where the stoploss must be 278 on the closing basis.


KEC International Ltd (KEC): CMP: 338.65 Target 450 Stop Loss 278 upside potential of about 25% from the current level

  • KEC has changed in its polarity around the level of 357, which shows the rising bullish sentiment behind the prices.
  • The stock has retested the symmetrical triangle pattern which it gave breakout in the first week of December 2022, indicating continuation of prior uptrend.


  • The breakout is confirmed as it is accompanied by higher volumes.
  • The RSI on the weekly timeframe have shown a breakout too which reflects strong momentum of the prices.
  • Going ahead we expect the prices to go higher till the level of 600 where the stoploss must be 450 on the closing basis.

So that's it! These are the stocks that could be the best stocks to buy in India for the short-term in 2023. If you want to make short term stock investment in any of these you will require a DEMAT Account. To get yours click here. Stay tuned for our next update.

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