Some stocks have shown significant breakouts and in the short term, they have a bullish momentum. By investing money in these, one can get 12 percent to 20 percent return in 3 to 4 weeks.
Short Term Stock Tips: The stock market is going through a period of ups and downs these days. Even if the market is gaining momentum, then this momentum is not going to last. The market has been under selling pressure since the beginning of this year. Inflation, rate hike cycle, geopolitical tensions and selling by foreign investors are factors increasing the pressure on the market. In such a situation, experts are advising investors on a stock specific approach by being cautious. However, in the meantime, some stocks have seen a good breakout and in the short term, there is a bullish momentum in them. By investing money in these, one can get 12 percent to 20 percent return in 3 to 4 weeks. Axis Securities has listed some such stocks. These include City Union Bank, Mahindra & Mahindra, V-Guard and Elecon Engineering Company.
City Union Bank
CMP: Rs
Buy Range: Rs 140-136
Stop loss: Rs 131
Upside: 12%–18%
Inverse head and soldier formation breakout has been seen in the stock on the weekly chart. This breakout has happened with significant volume, which is a sign of increasing participation. The stock is currently trading above its 20, 50, 100 and 200 Day SMA which is a bullish trend. Daily, Weekly and Monthly strength indicators RSI is also in bullish mode and the stock can show 155-163 levels in short term.
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Mahindra & Mahindra
CMP: Rs
Buy Range: Rs 1020-1000
Stop loss: Rs 955
Upside: 7%-12% रु
On the weekly chart, the stock has broken out of the Consolidation Zone 960-730 for the last 1 year on a closing basis. This breakout has happened with significant volume, which is a sign of increasing participation. The stock is currently trading above its 20, 50, 100 and 200 Day SMA which is a bullish trend. Daily and Weekly Strength Indicators RSI is also in bullish mode and the stock may show 1085-1130 levels in short term.
Elecon Engineering Company
CMP: Rs
Buy Range: Rs
Stop loss: Rs 207
Upside: 12%–20%
On the weekly chart, the stock has broken out of the rounding bottom at 220 levels. This breakout has happened with significant volume, which is a sign of increasing participation. The stock is currently trading above its 20, 50, 100 and 200 Day SMA which is a bullish trend. Daily, Weekly and Monthly Strength Indicators RSI is also in bullish mode and the stock may show 245-262 levels in short term.
V-Guard Industries
CMP: Rs
Buy Range: Rs 230-225
Stop loss: Rs 217
Upside: 9%–14%
On the weekly chart, the stock has seen a rebound from its 1-year multiple support zone at 1300-1280 levels. This breakout has happened with significant volume, which is a sign of increasing participation. The stock is sustaining above its 20 day SMA which is a bullish sentiment. The stock can show 248-260 levels in the short term.
(Disclaimer: Stock investment advice is given by the brokerage house. These are not the personal views of The Financial Express. Markets are risky, so take expert opinion before investing.)
