ACC, ONGC among 7 stocks that may deliver 5-8% returns in short term – Money-making Ideas – Economic Times

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18 Apr 2022, 09:42 AM IST

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Money-making Ideas

Currently, the overall market is consolidating in a range amid a number of headwinds including inflation and rising interest rates. But the earning season is gathering pace that is generating volatility in some specific counters. And, those counters are now giving price breakouts. Below are seven stocks that analysts recommend for strong short term gains:

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Apollo Hospitals | Buy | Target: Rs 5,100| Potential upside: 8%

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Apollo Hospitals | Buy | Target: Rs 5,100| Potential upside: 8%

The stock has been consistently making higher tops and higher bottoms over the last few sessions. Last week, it broke out of its recent highs on the back of healthy volumes. Technical indicators are giving positive signals as it trades above the 20-day SMA, and momentum readings like the 14-day RSI are in rising mode and not overbought. With the intermediate technical setup too looking positive, the analyst believes there is scope for more upsides in the coming weeks. He, therefore, recommends a buy between Rs 4,720-4,750. Stop loss should be at Rs 4,570 with a target of Rs 5,100.

Analyst: Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities

Agencies

​ONGC | Buy | Target: Rs 186 | Potential upside: 7%

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​ONGC | Buy | Target: Rs 186 | Potential upside: 7%

The stock has broken out of its recent trading range. Technical indicators are giving positive signals as the stock is trading above the 20-day and 50-day SMA. Momentum readings like the 14-day RSI too are in rising mode and not overbought, which implies a potential for further upsides. The stock has closed above the mid-band of the 20-day Bollinger Band. This is a sign of strength. One can buy between Rs 173-175 levels for a target of Rs 186. Stop loss should be at Rs 168.

Analyst: Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities

Reuters

Welspun Corp | Buy | Target: Rs 226 | Potential upside: 7%

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Welspun Corp | Buy | Target: Rs 226 | Potential upside: 7%

In recent developments, the stock has retested the breakout zone and witnessed a robust follow-up buying on the back of solid volumes. In addition to the price action, the technical indicators have also strongly backed the momentum, wherein the MACD has witnessed a positive crossover affirming the inherent strength in the counter. Hence, the analyst recommends buying this stock at Rs 210 for a trading target of Rs 226. The stop loss can be placed at Rs 200.

Analyst: Sameet Chavan, Angel One

iStock

Shipping Corporation | Buy | Target: Rs 140 | Potential upside: 5%

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Shipping Corporation | Buy | Target: Rs 140 | Potential upside: 5%

On Wednesday, the buying seemed to have emerged in this counter as it was clearly overdue to catch up with some other peers. Technically, we can construe this as a bullish breakout along with huge volumes, indicating renewed buying interest in this PSU. Considering the positive placement of some indicators, the analyst recommends buying on a small decline for a near term target of Rs 140. The stop loss can be placed at Rs 129.

Analyst: Sameet Chavan, Angel One

iStock

​ICICI General Insurance | Buy | Target: Rs 1,450 | Potential upside: 7%

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​ICICI General Insurance | Buy | Target: Rs 1,450 | Potential upside: 7%

After a medium-term price correction, the stock has formed a double bottom formation and reversed. Post reversal, it is consistently holding higher bottom formation. Currently, the stock comfortably trades above 20-day and 50-day SMA. Looking at the overall pattern, it offers buying opportunities for the positional traders with a decent risk-reward ratio. The trend reversal move is likely to continue up to Rs 1,450. Stop loss should be at Rs 1310.

Analyst: Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities

Agencies

ACC | Buy | Target: Rs 2,360 | Potential upside: 7%

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ACC | Buy | Target: Rs 2,360 | Potential upside: 7%

On daily and intraday charts, the stock has formed promising higher high and higher low series formation. Post formation it has been consistently trading above 20- and 50-day SMA which is broadly positive for the positional traders. The Rs 2,130 would be the key level to watch out for and stop loss. Above the same, uptrend formation is likely to continue up to Rs 2360.

Analyst: Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities

ETtech

​Bosch | Buy | Target: Rs 15,600 | Potential upside: 7%

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​Bosch | Buy | Target: Rs 15,600 | Potential upside: 7%

Post double bottom formation, the stock bounced back sharply. Currently, it is witnessing a short term price correction. From the weekly highest level it corrected over 3 per cent. However, the medium-term formation is still positive. The Rs 14,050 would be the key support zone for Bosch. Unless it is trading below Rs 14,050, positional traders can retain an optimistic stance and look for a target of Rs 15,600. Fresh buying can be considered now and on dips, if any, between Rs 14,560 and Rs 14,300 levels with a stop loss below Rs 14,050.

Analyst: Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities

AFP

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