- by Stocktry Expert
- 06th Apr 2021
8 Stocks that Analysts Believes Would Deliver Solid returns in Short Term
Rise of Covid-19 cases lead to stricter restrictions and risks from rising bond yields have heightened volatility in the domestic stock market, analysts say the focus going forward is going to be more and more stock specific.
Considering the scenario, here are a few stocks that analysts say hold the promise of making good money for investors in the near to short term:
1. India Cement
Maintain - Buy
Price Target: Rs 181
India Cement has formed a higher bottom formation post short-term price correction. Currently, the stock is consolidating between Rs 162 to Rs 170.If the stock succeeded to trade above Rs 162, we can expect a one more uptrend rally up to Rs 181. Stop loss should be at Rs 162.
2. SBI
Maintain - Buy
Price Target: Rs 395
SBI took the support near an important retracement level and is currently trading near 50 day SMA with strong candlestick formation. Daily and weekly structure suggest reversal wave will continue in the near term if it manages to trade above Rs 355, which should be stop loss. Target should be at Rs 395.
3. HCL Tech
Maintain - Buy
Price Target: Rs 1,075
Stop Loss: Rs 965
On weekly charts, positive Parabolic SAR series along with bullish candle on weekly charts also suggest further uptrend in the near future. Rs 965 should act as a strong support and stop loss for the stock and sustain above the same can take it to Rs 1,075.
4. Happiest Minds
Maintain - Buy
Price Target: Rs 655
Analysts recommend going long around Rs 580 for a target of Rs 655 in coming days. The strict stop loss can be placed at Rs 542.
5. Prakash Industries
Maintain - Buy
Price Target: Rs 94
Analysts recommend going long on a small dip towards Rs 78 for a couple of short term targets of Rs 88 and Rs 94. The strict stop loss can be placed at Rs 72.20.
6. Sun Pharma
Maintain - Buy
Price Target: Rs 632
After finding some support around the 89-EMA, the stock prices are about to move higher. Traders are advised to go long for a target of Rs 632. The stop loss can be maintained at Rs 596.50.
7. Balaji Amines
Maintain - Buy
Price Target: Rs 2,600
The 200 DMA of the stock is continuously rising since December 2020. If the stock corrects during the move, it can be added in the 1,710-1,340 range. Stop Loss at Rs 1,275 has to be observed in the trade.
8. Tata Chemicals
Maintain - Buy
Price Target: Rs 1,300
The stock has strength to achieve a target of 1,000-1,300 in coming days. Intermediate buy area is 715-560. Stop loss of Rs 535 on closing basis is to be observed in the trade.
