stock market
Stock Market Tips: If you also want to get good returns on your money in short term, then there are many great opportunities in the market right now. The movement of some stocks on the technical charts is indicating that there may be a tremendous rise in them in the coming days. Sachin Gupta, Vice President (Technical Research) of ‘Choice Equity Broking’ has identified 3 such strong stocks. These include EPL, KRBL and Shriram Finance. It is advisable to place bets on these stocks due to heavy volume and strong technical signals. Let us know at what price to enter these stocks, what is the stop-loss to avoid loss and what is the target of profit booking.
Golden cross formed on EPL chart
Great action was seen in the shares of EPL during Friday’s trading session. This stock jumped by about 3.5 percent and closed at Rs 224.80. According to market experts, a ‘Golden Cross’ has formed on its daily chart. In simple language, when the 50-day moving average of the stock crosses the 200-day long average, it is called a golden cross. This is considered a sure sign of the end of recession in the market and the beginning of a big boom.
Along with this, the RSI indicator has also given positive signals. Investors can make this stock a part of their portfolio around the price of Rs 224. To protect the capital, it is necessary to set a stop loss of Rs 215. In the short term its target has been fixed at Rs 240.
Tremendous recovery seen in KRBL
The shares of KRBL, a company related to agriculture sector, have made a strong comeback from the low levels. Last Friday, a huge rise of about 6 percent was recorded in this stock. The biggest reason behind this increase is the huge volume of buying and selling of shares. Buying in large quantities indicates that big investors are showing interest in this stock.
From a technical point of view, this stock is firmly above its long-term key moving average. Experts advise that one can make up his mind to buy this stock at the level of Rs 366. Set stop loss at Rs 354 to avoid any unexpected downside. In the coming time, this share can touch the level of Rs 385 to Rs 395.
Shriram Finance will give bumper returns
Shriram Finance is one of those stocks which has given a strong breakout on the technical charts. The stock has returned with strong support from the 200-day EMA and has managed to secure its place above the 50-day average.
Talking about the chart pattern, there has been a breakout of the ‘Falling Wedge’ pattern, which is considered to be a proof of stopping the decline and starting a new uptrend. Apart from this, the ‘Bullish Engulfing’ candlestick formed on the weekly chart is also increasing the confidence of investors. Market experts have advised to invest money in this share at the level of Rs 954. For safety, keep stop loss at Rs 925. If the market mood remains good, then this stock can show a great target of Rs 1020 in a short time.
Disclaimer: This article is for information only and should not be considered as investment advice in any way. TV9 Bharatvarsh advises its readers and viewers to consult their financial advisors before taking any money-related decisions.
