Top 3 stocks that will get 8-11% returns in the short-term:
Top 3 stocks: The Indian market continuing its losing streak. On Wednesday, February 26th both Sensex and Nifty trading bearish in today’s stock market. The Sensex lost 392.24 points with a 0.97% decrease and reached a 39,888.96 level. Whereas Nifty lost 119.40 points with a 1.01% decrease and reached 11,678.50 level.
However, the market could not hold its current level due to weak global markets. One of the main reasons is dangerous coronavirus still showing its impact on the global economy.
Besides, experts suggest traders buy in the range of 11,900-12,000 call strikes which points upwards. On the technical side, both BSE Sensex and Nifty trading bearish and reached 200-days Exponential Moving Average on the daily chart. The range in between 11,700 and 30,100 respectively.
Whereas, if any of the indexes reached below than you have to sell within the range of 11,900 and 30,700 an immediate resistance level. In the coming sessions, we expect the market to remain stable and a tug of war between bulls and bears.
Here is the list of three stocks that will give 8-11% returns in the next 3 weeks:
Minda Corporation: Buy
The company continuously maintaining its bullish trend within the formation of higher highs and higher bottom on the daily chart. Whereas, in the weekly chart, it forms a symmetrical triangle pattern with the price increases above the 200-days Exponential Moving Average.
However, the traders can obtain the stocks within the range of Rs 112-115 and the upside target of 126 levels. The stop loss of the company placed below Rs 105.
IPCA Laboratories: Buy
The company stocks are trading bullish since the year starting it touched its 52-week high above Rs 1,500 levels. The prices are once again back to key supports level and consolidating a range of Rs 1,350-1,450 from the last session.
Experts suggest traders buy the stock in the range between Rs 1,400-1,425, the target of 1584 levels, and stop-loss at Rs 1,290.
NIIT Technologies: Buy
The company reached its highest level of Rs 2050 last month. The price of the stock back to its 50-days Exponential Moving Average (EMA) on the daily chart around 1,800 levels. The company stocks formed a rounding bottom pattern after it reached within the range of 1,800-1,880 level.
Experts suggest traders buy the stock in the range of 1,870-1,890 the target of 2,045 level, and stop-loss at 1,775.