Here are some stocks which can give good returns in the near term. This is the advice of market experts and you must consult your advisor before following it.
The domestic stock market has been volatile over the past few weeks, leading to range-bound movements in the stocks. However, this limited movement has opportunities to earn substantial profits for those investors who invest for short term and long term. Here are some stocks that can give good returns in the near term. This is the advice of market experts and you must consult your advisor before following it.
Stock: Cholamandalam Investment
Target Price: Rs 600
Stop Loss: Rs 662
The stock has seen a corrective phase following a breakdown from the ‘Rising Wedge’ pattern and has seen selling pressure on pullback moves.After the support around Rs 600, the last few sessions have seen a decline in prices and the volume of price move is less.
Target Price: Rs 1,900
Stop Loss: Rs 2,120
Recently the SRF has consolidated in a broad range and has formed a triangle pattern on the daily chart.In Tuesday’s session, prices have given a breakdown from the support end of the pattern and volumes in the Cash segment were high along with the price breakdown.It certainly doesn’t bode well in the near term.
Bajaj Consumer Care
Target Price: 160
Stop Loss: Rs 129
There has been a tremendous recovery in Bajaj Consumer. Rs 129, which is the stop-loss, earlier acted as an important support level from where the price has started reversing. Affirmative action may continue towards the target of Rs 160 till vital support remains intact.
Target Price: 1,065
Stop Loss: Rs 890
Fertilizer company Coromandel International has just made its new 52 week low near Rs 999 level. There is still overhead space to move and break above the psychological level of Rs 1,000.Any downside towards Rs 950 could be a buying opportunity. Rs 890 is the level from where you can place a stop loss.
Target Price: Rs 1,350
Stop Loss: Rs 1,075
Price action on Trent suggests trading in a range of Rs 1,350-1,000.The price action shows that the price is breaking out of the ‘M’ pattern or what we know as the double bottom pattern. Price needs to break above the resistance at Rs 1,140 and hold higher for a rally near Rs 1,350-1,380 levels. On the upside, we can see a price rally towards October highs at Rs 1,350.Buy above Rs 1,150 with stops below Rs 1,075.Can be held for 6-8 weeks.