First Published Mar 14, 2023, 3:06 PM IST
Are you planning to make short-term gains in the stock market, but leading brokerage house Axis Securities has recommended 3 such stocks. These include Petronet LNG, Hindustan Aeronautics, Sterling & Wilson Renewable Energy. Currently, the stock market is going through huge ups and downs. But experts also advise investors to be cautious about buying these stocks. In such a situation, you can get better returns by investing in these stocks with strong fundamentals, and you can reach the target in just 4 weeks.
Current Price: Rs 232
Purchase Range: Rs. 232-228
Stop Loss: Rs. 220
How much can increase : 9%–12%
Petronet LNG has breakout near the 230 level on the weekly chart. This breakout happened with significant volume, which is a sign of increased participation. The stock is currently above its 20, 50, 100, 200 daily SMAs, which are positive signs. Weekly strength indicator RSI is in bullish mode. The stock may touch the 250-257 level soon.
Hindustan Aeronautics Limited (HAL)
Current Price: Rs 2854
Purchase Range: Rs. 2800-2744
Stop Loss: Rs. 2655
How Much Can Increase: 8%–11%
HAL is likely to move higher from around 2825 levels on the weekly chart. This breakout is expected to occur on significant volume, with the stock trading above a mid-term upward sloping trendline. It shows a positive uptrend. Weekly strength indicator RSI is in bullish mode. Stock may touch 3005-3085 level soon.
Sterling & Wilson Renewable Energy
Current Price: Rs 330
Purchase Range: Rs. 323-317
Stop Loss: Rs. 299
How Much Can Increase: 13%–18%
A falling channel pattern has breakout near the 305 level on the Sterling & Wilson weekly charts. This breakout happened with significant volume, which is a sign of increased participation. Weekly strength indicator RSI is in bullish mode. Stock may show 362-377 level soon.
(Note: Advice to invest in stocks is provided by brokerage house. It is not Asianet Telugu recommendation. Stock market is subject to gains and losses. So take expert opinion before investing.)
Last Updated Mar 14, 2023, 3:06 PM IST