Best stocks to buy for the short term in India ( Jan 2021)
L&T and Adani Ports are the best stocks to buy for the short term in India ( Jan 2021)
Best stocks to buy for the short term in India Jan 2021: This week we have done an analysis of all Nifty 50 stocks and found two stocks that an investor can buy next week for the short-term period. An investor should buy the stocks if the market sentiments or sector looks positive on Monday, 25 January 2021.
Best Stock to BUY- Larsen & Tubro- CMP Rs 1361| As on 22-01-2021
Larsen and Tubro (LT) is a conglomerate company in technology, engineering, construction, manufacturing, and financial services with global operations. This week we have selected LT as the best stocks to buy for the short term in India. The LT share price closed at Rs 1361 on 22nd January 2021.
The LT share price has touched a 52-week high at Rs 1396 and a low at Rs 661. On a weekly basis, the share price of LT has gained 0.59% and on a monthly basis, it gained 7.91%. The stock has made a decent growth in the last quarter due to multiple order gains of large ticket size in the construction and mining business.
Technically, LT is the best stocks to buy for the short term at CMP, its RSI is 63.1 indicating a technically strong. According to the exponential moving average, the stock is in a strong uptrend and has major support levels at 1330-1240. The MACD line on a weekly chart shows MACD is above the signal line, indicates a strong technical uptrend.
Our Stock Recommendation– You can buy the stock with a stop loss at Rs 1330 for the short term target of Rs 1395-1457-1490. You can also hold the stock for the medium-term target of Rs1600.
Best Stock to Buy- Adani Ports – CMP Rs 535.8 | Dated 22-01-2021
Adani Ports and Special Economic Zone Limited (APSEZ) is an Indian private multi-port operator and a part of the Adani group companies. Adani Ports is our second choice as the best stocks to buy for the short term in India this week. The Adani Ports share price closed at Rs 535.8 on 22nd January 2021.
The Adani Ports share price has touched Rs 562.5 as a 52-week high and a low at Rs 203, It has gained 1.49% on a weekly basis and 12% on a monthly basis. We had recommended the stock on 25th October 2020 at Rs 364 for the target of Rs 404 and advised to hold for the long term. Please check out our earlier recommendations here
Technically, the stock Adani Port is looking strong, its RSI is 62.2. On a daily and weekly MACD chart, the MACD line is trading above the signal line. This indicates the stock is bullish. According to exponential moving average analysis, the Adani port is in a strong uptrend. It has a major support level at 514-472.
Our Stock Recommendation: Adani port is the best stocks to buy for the short term in the Indian market, you can buy the stock with a stop loss of Rs 514 for the target of Rs 562-578-600
You may also like to read, Intraday Trading books to make money from Stock Markets
Happy Investing!!
Editor’s Desk
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