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Short Term Stocks Idea: You can get up to 15% returns in the next few days, choose these 3 hot stocks for investment

While there is pressure in the market, some stocks are ready to give high returns in very short term due to better fundamentals. You can also keep an eye on them.

Short Term Stocks Idea: There is uncertainty in the stock market. Whenever the market is climbing, selling is being seen. There are still many factors at the global level which are increasing the pressure on the market. Inflation is at the peak, where crude remains above $100. The central bank is strict about interest rates. Geopolitical tension remains. The market has been under selling pressure for the last few days. Experts are also not ruling out that the market will remain under pressure in the short term. However, in the meantime, due to better fundamentals, some stocks are ready to give high returns in the very short term. Santosh Meena, Research Head, Swastika Investmart, has given information about some such stocks. These include stocks like PPL, EID PARRY and SUVE PHARMA.

Nifty: Resistance at 17200-17300

Santosh Meena says that technically Nifty is responding to 50 percent retracement of its previous rally, although 17200-17300 is an intermediate and important resistance zone. Because it is a cluster of 200 and 100-DMA. Any movement above this zone can lead to a short-covering rally towards the 20-DMA of 17450. On the downside, there is a demand zone for Nifty at the level of 17100-17000. Whereas 16800 is a support level.

He says that if we look at the derivatives data, it is turning into a bullish mode before the F&O expiry of April month. Where the highest OI on the put side has been transferred to the 17000 level. Whereas the highest OI on the call side has shifted to the level of 17500. Put call ratio has moved from oversold zone to 1.06 level.

bank nifty

There is an important resistance level for Bank Nifty at 36500-37000 levels. Above this, we can expect a short-covering rally to the level of 37500/38000. On the downside, the level of 36000 is the immediate and psychological support level for the index.

PPL

Rating: BUY
CMP: Rs 194.75
SL: Rs 180
TGT: Rs.220 (+15%)

This counter is showing strength after the breakout of the ascending triangular formation. It found support at 20-DMA during the pullback and is now breaking the previous swing high to continue its strong bullish momentum. The immediate target for the stock on the upside is Rs 211/220, while on the downside there is support at Rs 190. Most of the momentum indicators are positioned positively to support the current strength.

EID PARRY

Rating: BUY
CMP: Rs 543
SL: Rs 505
TGT: Rs.625 (+15%)

This counter has been continuously making higher high and higher low formation and now it can break out of the multi-month resistance and reach the level of 575/625. On the downside, there is strong support for the stock at Rs 510. Right now it is trading above all the important moving averages and all the indicators are looking positive.

SUVE PHARMA

Rating: BUY
CMP: Rs 601
SL: Rs 560
TGT: Rs.675 (+12%)

This counter is bouncing back from the strong demand zone 560-550 after pullback. The demand zone of 560-550 coincides with the previous breakout level and 50-DMA. On the upside, the previous swing at 630 is the immediate hurdle while 675 is the next resistance level. MACD is trading across the centerline.

(Disclaimer: Stock investment advice is given by experts. These are not the personal views of digitnews.in. Markets are risky, so take expert opinion before investing.)

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