Want to make a short-term investment in the stock market to earn double-digit returns on your investment? Than this blog is for you. Our Technical analyst Mr.Malay Thakkar at GEPL Capital has picked these 5 best stocks to invest in India for the short term 2022. Every week on Friday we come out with the 5 best stocks to buy in India for the short term 2022. Considering Nifty Fluctuations our technical analyst has picked these 5 stocks to invest for short-term investment in 2022.
If you are willing to invest in these stocks for the short term you need a Demat account So, claim your Demat account in a few easy clicks. Become a part of one of the leading share brokers in the Mumbai GEPL Capital by clicking here. Well, you can also invest in these stocks via the GEPL capital PRO app. we have various technology platforms for your online trading journey. And let's start with the best stocks to buy in India for the short term 2022. But, before that let's take a look at market fluctuations.
Before stocks buy for the short term let's take a look at the market fluctuation.
- The Nifty finished lower on all three days of the current shortened week, closing at 17475.
- The nifty fell below the previous week's Doji candle bottom on weekly charts, but it still managed to stay above it.
- On the daily charts, the index has closed barely below the 20 week SMA (17471), below which the index has support at 17400.
- Resistance is seen at 17600 and 17790 on the higher side.
On a daily and weekly scale, the RSI is hovering around 50 and sending neutral signals.
- The index's mid-term trend is favorable till it maintains a position above the 17K barrier.
- However, we expect the index to trade in the 17300-18000 area in the near future.
Best stocks to buy in India for short term 2022:-
IIFL Upside potential of about 20% from the current level (CMP: 366.95 Target 440 Stop Loss 330).
- Since March 2020, IIFL Finance has been on a solid upward trend. With high volume building, the stock is currently breaking out of an 8-month lengthy consolidation.
- With the breakout this week, the stock formed a Bullish Marubozu candle, indicating the bullish sentiment on the counter.
- The RSI indicator is breaking out as well, reinforcing the bullish outlook.
- We forecast the stock to rise to 410, then 440 levels in the near future. On a daily closing basis, we recommend sticking to a rigorous stop loss of 330.
GODFREY PHILIPS Upside potential of about 20% from the current level. (CMP: 1292.25 Target 1550 Stop Loss 1185)
- Godfrey Philips has seized support at the rising trendline on the long-term charts and rallied to a 4-month high.
- The stock has broken out of an Inverse Head & Shoulder pattern on the daily charts, with significant volumes indicating breakout strength.
- On the weekly charts, the stock has formed a lengthy bullish Marubozu candle and has broken and maintained above the 20-week SMA (1118). On a daily basis, the RSI indicator has also delivered a breakout, reinforcing the optimistic outlook.
- The price movement and technical indicators point to prices continuing upward towards 1425 and than 1550 levels. For this trade scenario, we recommend a stop loss of 1185.
THERMAX Upside potential of about 15% from the current level (CMP: 2229.85 Target 2550 Stop Loss 2050)
- Thermax has been in a logical upward trend, with higher highs and lower lows. The stock recently found support at it's 20-day SMA (2009) and broke out of a three-month consolidation with strong volume.
- The RSI indicator has also gone above the 60 mark, indicating that the breakthrough has been confirmed. We expect the stock to outperform and rise to levels around 2400, then 2550. For this trade.
- we recommend a stop loss of 2050
Bonus:- Best stocks to buy for 2022 in India.
ACC: - CMP: 2558 upside potential of about 15% from the current level.
- The stock has been forming a Higher High Higher Low pattern since May 2020 on the monthly charts and sustaining at Life Time High levels which shows a bullish undertone of the stock for the medium to long term. The stock has been consistently taking strong support @ 20 Week SMA since June 2020 and has been maintaining bullish formation of Higher Top Higher Bottom pattern indicating positive sentiments of the stock for the medium to long term. On the indicator front, the RSI plotted on the medium to long-term charts can be seen moving higher and sustaining above 60 marks, indicating positive momentum of the stock.
- Going ahead the immediate resistance is placed at 2758 (38.2% extension level of 895 – 2509 projected from 2142) followed by 2949 (50% extension level of 895 – 2509 projected from 2142). The key support levels are 2437 (Gap Support) and 2305 (20 Week SMA). One can buy the stock at current levels (2558) for the target of 2758 followed by 2949 with a strict stop loss of 2437 on a closing basis.
UPL: - CMP: 765 Upside potential of about 13%.
- On the monthly chart, the stock has sustained at 3 months’ high after the correction from 864 to 686 levels and it has maintained a bullish pattern of Higher Top Higher Bottom indicating a positive undertone of the stock for the medium to long term.
- On the weekly charts, the stock has formed CIP formation (Change In Polarity) near 686 levels which confirm bullish sentiments of the stock for the medium to long term. On the daily charts, the stock has bottomed out after taking strong support @ 200 Day SMA and started moving upwards and sustained above it's previous swing high which indicates the stock is now ready for the next up move.
- The momentum indicator RSI plotted on multiple time frames can be seen placed above the 55 levels and moving higher, indicating that the stock is currently in a strong bullish momentum. The resistance is placed at 864 (Life Time High) followed by 974 (61.8% extension level of the rise from 399-864 projected from 686). The key level to watch for on the down is 730 (Swing Week Low) followed by 686 (Swing Low). One can buy the stock at current levels (765) for the target of 864 followed by 974 with a strict stop loss of 730 on a closing basis.
So these 5 were the stocks that you should buy for the short term in India for 2022. You can use our GEPL PRO app to buy desired stocks and can start trading with a few easy steps. Our customer support team will always be there to assist you.
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Note:- This is just a glance at our article on moneycontrol.com to read the entire article.