Shares to buy for short term: Indian stock market Benchmark Nifty 50 ended last Friday with a solid profit of 1.92 percent. Despite these great profits, however, the index expanded losses to the second consecutive week due to increased concern about the economic impact of the trade war.
The index lost 0.33 percent for the week. The index lost 2.61 percent in the last week.
In the meantime, the Indian stock market remains closed on Monday and Friday. On Monday the NSE and the BSE will be closed to Dr. Baba Saheh Ambedkar Jayanti, while on Friday there is a stock market holiday for Good Friday.
For the short term, the income of the fourth quarter, news flows around the trade war and macro -economic prints will determine the market sentiment.
Stock choices for short term
The Indian stock market is expected to remain volatile in the short term. Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, recommends buying shares of ITC, KNR Constructions and Gujarat Ambuja for the next two to three weeks.
ITC | Previous closure: £421.55 | Target price: £444 | Stop loss: £408
In the last session, ITC broke above the R3 Camarilla Pivot -resistance of £417 and firmly closed, indicating a bullish breakout after consolidating between £390–415.
RSI, who kept nearly 40 during consolidation, is now above 60 and strengthens bullish momentum.
This outbreak, supported by strong technical indicators, points to potential benefits in the upcoming sessions.
Traders can consider entering long positions in the £420–422 Range, aimed at a target of £444. A stop loss must be placed below £408 on daily closure to effectively manage the downward risk, “said Patel.
KNR -constructions Previous closure: £227.62 | Target price: £250 | Stop loss: £214
KNR Constructs has recently formed a bullish divergence on the daily graph, which indicates potentially up -like momentum.
In addition, an internal value relationship between March and April Camarilla -Pivots – where the R3 and S3 of April falls within the reach of March – causes price compression.
This setup is often preceded by a strong directional outbreak. The confluence of these technical signals suggests possible explosive progress.
“A long position is advised in the £225–228 Zone, with an upward target of £250. A stop loss must be maintained below £214 on a daily closure to manage risks effectively, “said Patel.
Gujarat Ambuja Exports | Previous closure: £115.81 | Target price: £135 | Stop loss: £105
Gujarat Ambuja Exports recently broke out after consolidating in the £99–110 Reach, Signaling of renewed Bullish Momentum.
This consolidation took place near the annual Camarilla Pivot of S3, a crucial level of support, which applied strength to the Bullish Setup.
In addition, a Bullish RSI divergence confirms potential upward movement on the Daily Chart.
“Traders can consider the £114–116 Reach, with a locked stop loss at the end £105. The outbreak supported by technical confluence suggests a strong upward potential, with goals of £135, “said Patel.
Read all the market -related news here
Read more stories Nishhant Kumar
Safeguard: This story is only for educational purposes. The views and recommendations above are those of individual analysts or brokerage companies, not for Mint. We advise investors to check with certified experts before we make investment decisions, because market conditions can change quickly and the circumstances can vary.
