Wednesday, February 21, 2024

Stocks to Buy: Opportunity to get 22% return in just 3 to 4 weeks, if you invest Rs 1 lakh, you will get a profit of Rs 22000.

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Stocks Tips for Short Term: Given the fluctuations in the stock market, it is wise for investors to invest their money only in stocks with strong fundamentals. The market is volatile and sometimes a huge rise and sometimes a huge fall is seen. The market valuation had increased after the recent rally and now the market is looking for a new trigger. However, many shares are still undervalued or have managed to get out of the consolidation range after a long time. Brokerage house Axis Securities has also given a list of some such stocks (Stocks to Buy), in which breakout has been seen recently. These shares (Stock Tips) are looking strong on the technical charts and can give 15 to 22 percent returns in just 3 to 4 weeks.

Can Fin Homes

CMP: Rs 828
Buy Range: Rs 813-797
Stop loss: Rs 760
Upside: 11% – 15%

On the weekly chart, Can Fin Homes has made a breakout of the symmetrical triangular pattern around the level of 816. This breakout has happened with good volume which is a sign of increasing participation. Weekly strength indicator RSI is in bullish momentum which indicates buying. The share can show a level of Rs 895-925 within a month.

Engineers India Ltd.

CMP: Rs 252
Buy Range: Rs 242-236
Stop loss: Rs 218
Upside: 18% –22%

On the weekly chart, Engineers India has made a breakout of the ‘Multi Year Resistance’ zone with a bullish candle around the level of 206. This is a sign of continuation of the uptrend in the mid-term. This breakout has happened with good volume which is a sign of increasing participation. The stock currently remains above the key averages of 20, 50, 100 and 200 days Simple Moving Average (SMA), which is indicating strong bullishness in the stock. Weekly strength indicator RSI is in bullish momentum which indicates buying. The share can show a level of Rs 281-292 within a month.

Hindustan Copper

CMP: Rs 298
Buy Range: Rs 293-287
Stop loss: Rs 268
Upside: 15% –19%

On the weekly chart, Hindustan Copper has breakout of the consolidation zone between 290-257 levels. This is a sign of bullishness of the stock in the midterm. This breakout has happened with good volume which is a sign of increasing participation. The stock is displaying a pattern of higher high low formation on the weekly chart and remains above the mid-term upward sloping trendline, indicating an uptrend in the mid-term. Weekly strength indicator RSI is in bullish momentum which indicates buying. The share may show a level of Rs 334-345 within a month.

Oriental Hotels

CMP: Rs 136
Buy Range: Rs 132-128
Stop loss: Rs 120
Upside:15%–22%

On the weekly chart, Oriental Hotels has breakout of the ‘Consolidation’ zone with a bullish candle between the levels of 132-116, which is a sign of increasing bullishness in the stock. This breakout has happened with good volume which is a sign of increasing participation. The stock is currently following an upward sloping channel, the stock has recently found support at the lower band. It is now moving towards the upper band. Weekly strength indicator RSI is in bullish momentum which indicates buying. The share can show a level of Rs 150-159 within a month.

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