Stocks To Buy: Six Stock Picks That May Deliver Good Returns in Short Term
Stocks To Buy: Six Stock Picks That May Deliver Good Returns in Short Term
The crisis in the world over markets seems to not ease soon. So, here are six names that analysts suggest for short-term returns

Stocks to buy: Amid the invasion of Ukraine by Russia, there has been a sharp sell-off in Nifty and there are no clear signs of the crisis receding soon, so while the headwinds of higher crude price, supply-side disruptions, inflation continue to persist. Here are six stocks that analysts suggest for short-term returns.

Stock Recommendations by Vikas Jain – Senior Analyst at Reliance Securities

ICICI Prudential Life Insurance – BUY

Reco. Range: Rs 460-450 | Target: Rs 530 | Stop Loss: Rs 410

The stock has bounced from its long-term moving 200-week SMA after a sharp decline from its recent high of Rs 725. Its daily RSI has moved higher from its lower range and will resume its uptrend with positive price action.

Colgate Palmolive – BUY

Reco. Range: Rs 1,510-1,470 | Target: Rs 1,750 | Stop Loss: Rs 1,364

The stock has formed a strong base around its 200-week SMA and is poised for an up-move. Historically, the stock witnessed a strong up-move after testing its 200-week SMA. Its weekly RSI reversed from its oversold zone and is positively poised.

Ambuja Cement – BUY

Reco. Range: Rs 288-282 | Target: Rs 345 | Stop Loss: Rs 265

The stock has formed a strong base around its 34/55-month SMA and is poised for an up-move. It has completed its 61.8 per cent retracement of the previous up move (136-442) levels

Stock Recommendations by Osho Krishnan, Sr. Analyst- Technical and Derivative Research, Angel One Ltd. 

Buy Hindustan Uniliver at Rs 2,000-2,020 | SL: Rs 1,890 | TGT: Rs 2,200

Hindustan Uniliver has corrected over 30 per cent in the past couple of months and is hovering below all its major exponential moving averages on the daily time frame. However, the recent price action from the lows of the 1,900 odd zone that even coincides with the 200 weekly SMA could be seen as a crucial support zone. From the historical data, the mentioned support zone has provided a firm cushion. Even, from the risk-reward point of view, the stock is placed at a lucrative zone and could be seen as an opportunity for short to medium-term investors.

Buy Tata Power at Rs 220-228 | SL: Rs 210 | TGT: Rs 248

Tata Power has been consolidating in a wide range for quite some time, suggesting to form a firm base before its upsurge. The stock is hovering near the cluster of its major exponential moving averages on the daily chart, wherein the 100 DEMA has provided an immense demand zone in the past scenarios. The stock has the potential to soar upwards and is currently placed near the support zone, and is expected to surge in the near future.

Buy WIPRO @ Rs 575-585 | SL: Rs 550 | TGT: Rs 628

Wipro has corrected over 20 per cent in the last couple of trading months and is currently consolidating in a slender range, forming a base. The stock has underperformed compared to the other peers of the same sector and can showcase its potential once it breaches the 200 DEMA in a decisive manner. Looking at the recent price action, the stock is about to witness a consolidation breakout and could carry strong momentum along with itself.

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