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Top 5 stocks that may deliver good returns in a short term

Top 5 stocks that may deliver good returns in a short term
  • December 9, 2022
  • 0 Com
Finance

Short-term stocks include financial instruments which are traded on a frequent basis. In other words, these financial instruments are not held by investors for a prolonged period, which is usually the case with long-term stocks.

In India, financial instruments which are held for a period of fewer than 12 months or 1 year are considered as short-term stocks. In effect, the profits made from trading these instruments are classified as short-term capital gains.

Here is a list of top 5 stocks that may deliver good return in a short term:

1. JSW Steel

JSW Steel has recovered smartly from its recent swing low and has now given a breakout from a falling trendline resistance. The volumes on breakout are better than its average and the RSI oscillator is hinting at a positive momentum. Hence, we expect a continuation of the uptrend in the short term. Short-term traders can look to buy the stock in the range of Rs 695-690 with a stop loss placed below Rs 670 for a potential target of Rs 738 in the next 2-3 weeks.

2. Raymond

JSW Steel has recovered smartly from its recent swing low and has now given a breakout from a falling trendline resistance. The volumes on breakout are better than its average and the RSI oscillator is hinting at a positive momentum. Hence, we expect a continuation of the uptrend in the short term. Short-term traders can look to buy the stock in the range of Rs 695-690 with a stop loss placed below Rs 670 for a potential target of Rs 738 in the next 2-3 weeks.

3. Reliance Industries

RIL’s stock price broke out of a falling trendline with a significant increase in volumes. MACD is in a buy mode and RSI has crossed above 60. A series of green candles in the last couple of days points out towards a change in sentiment from bearish to bullish. Applying channeling technique price is poised to make a rally to Rs 2,800 and above that to beyond Rs 3,000 levels. Buy with a stop loss below Rs 2,400 and hold for 6-8 weeks.

4. ITC

ITC has been trading in a sideways channel and has taken support at its 200-EMA. After reversal from 200-EMA, it has picked up momentum and we expect the momentum to continue further. We have also observed momentum indicators like RSI and MACD indicating that the positive momentum in the stock will continue. We recommend buying the stock above Rs 250 with a target of Rs 285 and stop loss of Rs 215.

5. Lupin

Lupin has given a breakout of a descending channel and now we can expect some positive momentum in the stock. RSI indicator has also suggested a positive diversion indicating primary signs of reversal. We recommend buying the stock above Rs 780 with a target of Rs 1,050 and stop loss of Rs 670.

If you are looking for list of top 5 listing than Get Top 5 results is the best place. Here you can find top 5 listing for every category. We at Get Top 5 are severely addicted to deliver the best Top 5 lists and content to our absolutely lovely readers.

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