Stocks to Buy: Profit of Rs 22000 on every Rs 1 lakh, these 4 stocks can give returns of up to 22% in just 1 month

Stocks Tips for Short Term: Given the fluctuations in the stock market, it would be wise for investors to thoughtfully invest money only in stocks with strong fundamentals. In the recent rally of the market, there are many stocks that are now looking expensive in terms of valuation. At the same time, many shares are still undervalued or have managed to get out of the consolidation range after a long time. Brokerage house Axis Securities has also given a list of some such stocks, in which breakout has been seen recently. These shares are looking strong on technical charts and can give 16 to 22 percent returns in just 3 to 4 weeks. These shares include Fortis Healthcare, JK Cement, Torrent Power, and NMDC.

1. Fortis Healthcare Ltd:-

CMP: Rs 361

Buy Range: Rs 358-352

Stop loss: Rs 331

Upside: 14%–18%

On the weekly chart, Fortis Healthcare entered the ‘Consolidation’ zone from 348 to 315 with a strong bullish candlestick pattern, indicating a continuation of the uptrend in the mid-term. The stock is showing a pattern of higher highs and lows on mid-term charts which is a sign of a strong uptrend. Weekly strength indicator RSI is in bullish momentum which is a buy signal. The stock may show a level of 403-418 in 3 to 4 weeks.

2. JK Cement:-

CMP: Rs 3452

Buy Range: Rs 3400-3332

Stop loss: Rs 3230

Upside: 8%–13%

JK Cement demonstrated a strong breakout above 3365 from the ‘Symmetrical Triangular’ pattern on the weekly chart. This breakout has happened with good volume which is a sign of increasing participation. The stock remains above its key 20, 50, 100, and 200-day Simple Moving Average (SMA), indicating strong bullishness in the stock. The weekly strength indicator RSI gave a crossover above its reference level, creating a buy signal. The share can show a level of 3638-3800 within 1 month.

3. Torrent Power Ltd:-

CMP: Rs 777

Buy Range: Rs 770-756

Stop loss: Rs 713

Upside: 13%–18%

On the weekly chart, Torrent Power broke above the ‘cup and handle’ pattern with a strong bullish candle at 760, indicating the start of an uptrend after a consolidation breakout. The stock is currently following a rising channel formation in the mid-term, while it recently found support at the lower band of the channel and is bouncing, indicating a possible move toward the upper band. The closing of the stock above the daily upper Bollinger band has given a buy signal. The stock may show a level of 863-900 in 3 to 4 weeks.

4. NMDC Ltd:-

CMP: 169

Buy Range: 167-163

Stop loss:152

Upside: 16% –22%

NMDC has broken the ‘multi-year high’ located around the level of 156, which indicates a continuation of the uptrend. The stock remains above the key moving averages of 20, 50, 100, and 200 days Simple Moving Average (SMA), which is a strong sign of a bullish trend in the stock. The stock is forming a higher high-low formation and remains above the upward-sloping trendline, indicating positive momentum. The weekly strength indicator RSI is in a bullish position and remains above its reference line. The stock may show a level of 191-201 in 3 to 4 weeks.

(Disclaimer: The advice to invest in stocks has been given by the brokerage house. These are not the personal views of Financial Express. There are risks in the market, so take expert opinion before investing.)

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