.webp)
We are in the final quarter of 2024 and it's time to refine your investment strategy and take advantage of timely opportunities in the Indian stock market. If you’re still on the lookout for short-term investment opportunities for the remainder of this calendar year, your search ends here! Presenting our handpicked selection of 5 stocks to invest for short term in India 2024. These stellar picks, carefully selected by our expert technical analyst at GEPL Capital, Mr. Vidnyan Sawant, are poised for significant returns, with potential to reach double-digit gains. For those looking to make the most of swift market movements, these stocks offer savvy options to consider. Don't let these exceptional short-term opportunities in the Indian stock market for 2024 pass you by.
Our skilled analyst regularly curates these 5 best stocks to buy in India for your short-term investment portfolio, staying ahead of the latest Nifty fluctuations and key market updates. This selection, offered up to you on a silver platter, represents some of the best opportunities for short-term gains in the Indian stock market (NSE & BSE). With insights tailored to current market conditions, these top-performing short-term picks have been meticulously chosen for your benefit.
- If you’re ready to invest in the best stocks to invest in India for short term in 2024, you’ll need a DEMAT Account. Don’t have one yet? Click here to get started and join one of the leading full-service stock brokers and online stock trading in India. Once your DEMAT account is up and running, you’ll gain access to cutting-edge technology platforms that will help you embark on your investment journey in the Indian stock market. Stay informed about market fluctuations and recent trends before diving into your investments, and start your journey toward financial growth with the best stocks to invest in India for short term in 2024. Please note: All the CMPs listed below are as of the market close on 01-Nov-24.
Analyzing Nifty Index Movement:
Nifty: 24,304 (As on 01-Nov-24)
The Nifty index faced sustained selling pressure in October, closing below the previous month’s low for the first time in 11 months. Recently, it has been consolidating near the August swing low of 24,000-24,400. Oversold technical indicators have helped limit further declines, but a break below 23,900 could intensify bearish sentiment in the market.
Given the current chart structure, further weakness is anticipated, and a bearish phase appears likely. Traders are advised to consider short positions below 23,900, with downside targets in the 23,200–22,500 range. A strict stop loss should be set at 24500 on a closing basis to manage risk. The 25,300–25,500 zone should be viewed as a "sell on rise" opportunity. A breakout above the level of 24500 would be set a stage for 25230 and 26277.
- For long-term investors, accumulating at levels around 23,900– 23200, with a target of 26277, could present a favorable opportunity. However, near-term caution is advised, as the bearish undertone currently dominates the market.
Best Stocks For Short Term Investments:
HDFC Bank Limited (HDFCBANK): CMP:- 1,737 Weekly ROC (-0.35%)
On the monthly scale, HDFCBANK has established an impressive base pattern, with this month forming a long-wick bullish candlestick, signaling strong buying interest. This base suggests a period of accumulation and reinforces the potential for continued upward momentum.
On the weekly scale, HDFCBANK has consistently formed higher bottoms, showing a strong bullish structure. In recent weeks, the stock has experienced a bullish mean reversion from both the 12-week and 26-week EMAs, indicating that dips are being actively bought, further underscoring strong buying interest.
The MACD momentum indicator remains positive across multiple timeframes, confirming sustained bullish momentum. Additionally, HDFCBANK is positioned well above key moving averages, reinforcing its technical strength and suggesting that the trend is likely to persist.
The ratio chart of HDFCBANK relative to the NIFTY index shows a pullback from a recent double-bottom formation, with the ratio line holding above its July 2024 swing high. This pattern suggests that HDFCBANK is demonstrating relative strength compared to the broader market.
Looking ahead, the stock has potential upside, targeting 1880. To manage risk, it's advisable to set a stop loss at 1650 on a closing basis.
Reliance Industries Limited (RELIANCE) CMP:- 1,338 Weekly ROC (+0.81%)
After experiencing a sharp correction over the past four consecutive weeks, RELIANCE is showing signs of stabilizing this week, with price action indicating a pause at the 100-week EMA—a level that has historically provided support and stability for the stock. This area near the 1350–1370 zone is crucial, as the stock appears well-positioned for a potential bullish mean reversion if it can sustain above this range.
On the momentum front, the Stochastic indicator shows a bullish crossover from oversold levels on the weekly timeframe, a positive sign that the stock may be gearing up for a recovery. On the daily timeframe, the %K line has already reached 59, reflecting a rising trend and suggesting an increasing bullish bias.
Adding to the positive outlook, the daily MACD has recently exhibited a bullish crossover, signaling that upward momentum may be reigniting. This crossover, combined with supportive technical levels, indicates a strong potential for RELIANCE to attract renewed buying interest and recover from recent losses.
Looking ahead, the stock has potential upside, targeting 1460. To manage risk, it's advisable to set a stop loss at 1271 on a closing basis.
Caplin Point Laboratories Limited (CAPLIPOINT) CMP:- 2,024 Weekly ROC (+13.07%)
CAPLIPOINT continues to exhibit a strong uptrend, consistently forming higher tops and higher bottoms on higher timeframes, which underscores a well-established and sustained bullish trend. This price structure signals steady accumulation and confidence among buyers.
On the weekly chart, CAPLIPOINT recently experienced a bullish mean reversion from its 12-week EMA, highlighting that dips are being bought and reaffirming investor interest at key support levels. This resilience near the 12-week EMA reinforces the stock's upward momentum and its potential to continue its rally.
The MACD indicator on the weekly scale remains in buy mode, further supporting the stock's positive trajectory. The sustained strength of MACD signals that momentum remains in favor of the bulls, suggesting that CAPLIPOINT is well-positioned for continued gains in the near term.
Looking ahead, the stock has potential upside with a target of 2470, while a stop loss at 1860 on a closing basis is recommended for effective risk management.
Skipper Limited (SKIPPER) CMP:- 546 Weekly ROC (+8.35%)
Since 2022, Skipper has maintained a robust uptrend, reflecting sustained bullish momentum across multiple timeframes. This steady upward trajectory indicates a strong and resilient demand for the stock, as it has managed to retain investor confidence even through market fluctuations.
On the weekly scale, Skipper successfully retested a critical multiyear breakout level in March 2024, affirming its support and setting the stage for continued upside. Since then, the stock has demonstrated a healthy uptrend by consistently forming higher tops and higher bottoms—an essential pattern indicating steady accumulation and a well-supported price structure.
Adding to this strength, Skipper remains above key moving averages, including the 12, 26, 50, 100, and 200-week EMAs. This alignment across multiple EMAs underscores the stock’s resilience, as each moving average serves as a layer of support that fortifies the uptrend.
The MACD indicator also confirms this bullish outlook, trending upward and reinforcing the positive momentum underlying Skipper's price action.
Looking ahead, the stock is projected to have an optimistic target price of 655, reflecting its growth potential. To manage risks effectively, it is advisable to set a stop loss at 496 on a closing basis.
Hindustan Unilever Limited (HINDUNILVR) CMP:- 2,537 Weekly ROC (+0.37%)
HINDUNILVR recently underwent a corrective phase, declining from 3035 to 2452, following an earlier impulse rally from 2221 to 3035. Notably, this correction has retraced to the 61.8% Fibonacci golden ratio, aligning closely with the 100-week EMA—a key technical support level. This confluence of support suggests that the stock may be positioned for a potential resurgence in its upward trend, in line with wave theory expectations.
Seasonality analysis further supports a positive outlook, showing that November has historically been a strong month for HINDUNILVR. Data from 2000 to 2023 indicates that, following a typically weaker October, November has averaged a gain of 3.15%. During this period, the stock has ended November with positive returns 18 times compared to only 6 instances of negative closes, underscoring a favorable historical bias toward gains.
On the daily scale, the stochastic indicator is in positive territory, with the %K line at 43 and the %D line at 42, reflecting strengthening momentum and signaling that buyers may be stepping in at current levels. The combination of Fibonacci support, seasonal strength, and positive momentum indicators suggests that HINDUNILVR could be positioned for a rebound from current levels.
Going ahead we expect the prices to go higher till the level of 2817, the Bullish view will be negated if we see prices sustaining below 2410 level.
Before we wrap up, let’s take a moment to reflect on the performance of our previous short-term recommendations. The table below highlights the impressive results of our past picks, showcasing the returns they've generated over time. This performance is a testament to our commitment to providing informed and strategic insights that empower your investment journey. Rest assured, we remain dedicated to delivering valuable updates and timely opportunities. Stay tuned for more insights and market-driven strategies.
Conclusion
Ready to explore new opportunities in the Indian stock market with some of the best stocks to buy in India for the short-term in 2024? Look no further—these top selections are tailored to fit short-term investment goals in India. Start your journey with a DEMAT account; click here to open yours and begin your path toward informed and strategic investing! Stay tuned for our next update with more insights and timely market opportunities.
Before investing, be sure to review the disclaimer—a quick read that could help you make better-informed decisions!
