Stock to buy for short-term: Even as the Indian stock market remains rangebound amid tariff impact fears and elusive corporate earnings, certain individual stocks have the scope for offering solid returns in the short term.
One such stock is Infibeam Avenues. This small-cap stock below ₹20 could rally 25% in a month, predicts Anand Rathi. The stock recommended by the brokerage as its pick of the month ended Thursday’s trade in the red at ₹15.92 apiece.
The brokerage has a target price of ₹20 on Infibeam Avenues stock, signalling an upside of 25.6% from its close as of today.
Infibeam Avenues: Technical view
The brokerage is bullish on this small-cap stock below ₹20 based on the technical charts.
Anand Rathi said that Infibeam has exhibited a bullish AB=CD harmonic pattern on the weekly chart, indicating potential trend reversal and upside momentum. Additionally, the MACD histogram and signal line divergence support the bullish outlook, strengthening conviction for an upward move, said the brokerage.
Considering these technical signals, it is recommended to go long in the 16.5-15.5 zone, where accumulation looks favourable, Anand Rathi said.
The upside target price for Infibeam Avenues shares is set at 20, aligning with pattern completion levels, while a stop-loss at 14 on a daily closing basis helps manage risk effectively, according to the brokerage.
“Overall, the setup reflects a strong risk-reward opportunity for traders, provided discipline in stop-loss adherence is maintained,” it added.
Infibeam Avenues Share Price Trend
Small-cap stock below ₹20, Infibeam Avenues, has seen a volatile performance in the Indian stock market. The scrip has lost 18% in three months and 32% on a year-to-date basis.
Meanwhile, in the last one year, Infibeam Avenues share price has been down 39%. However, it has eked out gains over two and three-year periods, rising 24% and 19%, respectively.
Infibeam Avenues is an integrated & scalable digital platform consisting of Digital Payment Solution under the brand name CCAvenue and Enterprise Software solutions under the brand name BuildaBazaar.
Apart from India, the company has an international presence as well, which includes the Kingdom of Saudi Arabia, the United Arab Emirates and the United States.