5 Best Shares/ Stocks to buy now in October 2021
Best Shares to buy now in October 2021: Nifty gained more than 50 percent in the last year and 3 percent in last month. The domestic markets continued their northward journey since April 2020. The October month will be dominated by the Q2FY22 corporate earnings. We feel the decline in covid-19 infection and openness of business activities will definitely improve the performance of corporate sectors in the second quarter of FY22.
The domestic markets are performing without FIIs contribution for the last six months whereas retail investors and DIIs are supporting the market. We feel that the markets will continue to perform as it is in the coming months. We have run our screener and came across few exciting opportunities for investment point of view in the month of October. Thought, to share these investment ideas with our readers, so check out below, which are our 5 best shares to buy now in October 2021
5 Best Shares to buy now in October
HDFC Bank:-
The share price of HDFC Bank closed at Rs 1602.65 on 8 October. It is trading near its 52-week high at Rs 1650 and gained 37 percent from its 52-week low at Rs 1164. Technically the HDFC Bank share price is trading strong and can be the best shares to buy now
The RSI is 57.5, RSI below 30 is considered oversold and above 70 is overbought, HDFC Bank is not in the overbought zone. MACD is 15.8 and the Signal line is 15.7, MACD is above the signal line is a bullish indicator. The share price of HDFC is trading above all available EMA’s. As per our screener, HDFC Bank is the best shares to buy now for the target of Rs 1850 with a stop loss of Rs 1560
State Bank of India (SBI) –
The share price of SBI closed at Rs 458 on 8 October. The scrip is trading near its 52-week high at Rs 471.9 and gained 146 percent from its 52-week low at Rs 185.9.
Technical the SBI is looking strong and is trading above 30 days SMA for the last 55 days. The RSI is at 58 not in the overbought zone. The MACD is 7.3 and the Signal Line is at 6.8, MACD is above the Signal line indicates the stock is bullish. We feel SBI can be a good stock to buy now for a medium-term target of Rs 540 with a Stop loss of Rs 418
United Breweries Ltd (UBL)–
The share price of United Breweries Ltd closed at Rs 1650.05 last Friday 8 October. The share price of UBL is trading near its 52-Week high at Rs 1686 and gained 83.95 percent from its 52-week low of Rs 897 on 29 Oct 2020.
Technically the UBL share price is looking strong and trading above 30 days simple moving average (SMA) for the last 53 days. The stock is not in the overbought zone as its RSI is at 63.4. The MACD is 26.4 and the Signal line is 26.1, MACD is above the signal line indicates the share is bullish. After analyzing other technical parameters, we feel that the UBL can be accumulated for the target of Rs 1900 with a stop loss of Rs 1615
Cyient Ltd–
The share price of Cyient Ltd closed at Rs 1117.05 on 8 October. The stock is trading near its 52-week high at Rs 1148 and gained 206 percent from its 52- week low touched at Rs 365 on 15 October 2020
Technically, the stock is looking bullish as it is trading above all available EMAs. The RSI is at 63.4 not in the overbought zone. The MACD is at 21.2 and the Signal line is 20.5 indicates the stock is bullish. We feel Cyient is the best stocks to buy now at the current market price for the target of Rs 1300 with a stop loss of Rs 1060 in six months horizon.
Power Grid Corp Ltd–
The share price of Power Grid Corp Ltd closed at Rs 187.70 on 8 October. The stock has touched a 52-Week high at Rs 198 and has gained 61.88% from its 52-week low at Rs 116 on 15 October 2020.
The stock is looking technically strong and is trading above all available EMAs. The RSI is 59.1, which indicates the stock is not in the overbought zone. MACD is 3.6 and the Signal line is at 3 indicates. MACD above its center and Signal line is a bullish indicator. This can be one of the best Shares /Stocks to buy in October for the medium-term target of Rs 224 with a stop loss of Rs 174
The above are the five best stocks to buy now in October 2021, if you like the post please share it with others.
You may also like to read, Indian stock market outlook for next week (11 to 14 Oct )
Best stocks to buy in India for short term 2021 October
Happy Investing !!
Editor’s Desk
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