Six Stock Picks That May Deliver Good Returns in Short Term

Amid the invasion of Ukraine by Russia, there was a pointy sell-off in Nifty and there aren’t any clear indicators of the disaster receding quickly, so whereas the headwinds of upper crude value, supply-side disruptions, inflation proceed to persist. Here are six names that analysts recommend 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 inventory has bounced from its long-term transferring 200-week SMA after a pointy decline from its current excessive of Rs 725. Its each day RSI has moved increased from its decrease vary and can resume its uptrend with optimistic value motion.

Colgate Palmolive – BUY

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

The inventory has fashioned a robust base round its 200-week SMA and is poised for an up-move. Historically, the inventory witnessed a robust 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 inventory has fashioned a robust base round its 34/55-month SMA and is poised for an up-move. It has accomplished its 61.8 per cent retracement of the earlier up transfer (136-442) ranges

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

BUY HINDUNILVR @ Rs 2,000-2,020 | SL: Rs 1,890 | TGT: Rs 2,200

Hindustan Unilever has corrected over 30 per cent prior to now couple of months and is hovering beneath all its main exponential transferring averages on the each day timeframe. However, the current value motion from the lows of the 1,900 odd zone that even coincides with the 200 weekly SMA might be seen as an important help zone. From the historic information, the talked about help zone has supplied a agency cushion. Even, from the risk-reward viewpoint, the inventory is positioned at a profitable zone and might be seen as a possibility for brief to medium-term traders.

BUY TATAPOWER @ Rs 220-228 | SL: Rs 210 | TGT: Rs 248

Tata Power has been consolidating in a variety for fairly a while, suggesting to kind a agency base earlier than its upsurge. The inventory is hovering close to the cluster of its main exponential transferring averages on the each day chart, whereby the 100 DEMA has supplied an immense demand zone prior to now eventualities. The inventory has the potential to soar upwards and is at present positioned close to the help zone, and is anticipated to surge within the close to future.

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

Wipro has corrected over 20 per cent within the final couple of buying and selling months and is at present consolidating in a slender vary, forming a base. The inventory has underperformed in comparison with the opposite friends of the identical sector and may showcase its potential as soon as it breaches the 200 DEMA in a decisive method. Looking on the current value motion, the inventory is about to witness a consolidation breakout and will carry sturdy momentum together with itself.

Disclaimer:Disclaimer: The views and funding suggestions by specialists on this report are their very own and never these of the web site or its administration. Users are suggested to verify with licensed specialists earlier than taking any funding choices.

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