Best Stocks to Buy: Unveiling 3 Hidden Gems for Short-Term Investment

 

Best Stocks to Buy for Short to Medium Term: Indian stock markets gained more than 1% for the week ending on February 16th. The Nifty closed at 22040.70, only 86.1 points away from its all-time high. According to research analyst of Prabhudas Lilladher, Nifty is likely to retest the previous peak in the upcoming session and can give a breakout for higher targets. They have suggested the three best stocks to buy for the short term for higher returns and below are the three stocks.

 

3 Best Stocks to Buy Today

 

Best Stock To Buy- ADANI WILMAR

 

The Adani Wilmar share price on NSE closed at Rs 345.60 and gained 2.54%, on Friday, February 16th. The share has touched a 52-week high of Rs 509 and hit a low of Rs 285.80. 

Adani Wilmar was in the news last week, as the company appointed Jignesh Shah as the head – of media and digital marketing. Foreign credit rating agencies have recently reaffirmed and upgraded the credit ratings for companies within the Adani Group, providing a significant boost to all the companies in the group.

 

The Adani Wilmar share price has given a decent correction from the recent peak of Rs 410 and currently has shown signs of bottoming out near the Rs 320 zone and with a pullback witnessed has improved the bias with a positive candle formation pattern on the daily chart. 

The RSI is well-placed and has shown a trend reversal with the potential to rise further in the coming days. With the chart looking good, the top broking house Prabhudas Lilladher suggests Adani Wilmar as the Best stock to buy for an upside target of Rs 409 keeping the stop loss of Rs 320 level.

 

Best Stock To Buy- Larsen & Turbo (L&T)

 

The Larsen and Tubro share price on NSE closed at Rs 3382.80 and gained 2.50% on Friday, February 16th. The L&T share price has touched a 52-week high of Rs 3737.90 and hit a low of Rs 2082.10. 

Since the beginning of 2024, L&T has gained lots of attention due to its buyback initiative, the inauguration of Ayodhya’s Ram Mandir, and lucrative order deals. Larsen has taken full initiative in the construction of the auspicious Ram Mandir, poised to stimulate economic growth in Ayodhya and Uttar Pradesh.

Most recently, L&T’s stock has come under the spotlight after the release of its Q3 results. The stock has witnessed a decent correction from the peak made near the Rs 3740 zone and currently, after a short consolidation taking support near the important 100 period MA of Rs 3250 level, has seen a decent pullback with positive candle formation on the daily chart to improve the bias. 

The RSI has also corrected from the overbought zone and is currently well-placed to signal a buy with a trend reversal indicated. With the chart technically looking attractive, Prabhudas Lilladher suggests L&T as the Best stock to buy for an upside target of Rs 3760 keeping the stop loss of Rs 3240 level.

 

Best Stock to Buy – Titan Company

 

The Titan share price on NSE closed at Rs 3648.65 gaining 0.73% on Friday, February 16th. The Titan share price touched a 52-week high at 3886.95 and hit a low at Rs 2321.

Despite Titan Company not meeting analysts’ expectations for the third quarter, several top brokerages kept their positive opinions about the stock. Goldman Sachs and Nuvama repeated their advice to buy, with Goldman Sachs believing that the Tata company will continue to increase its share of the market. Kotak Institutional Equities and Prabhudas Lilladher suggested adding Titan’s stock, while the US brokerage Jefferies kept its view at ‘Hold’.

The Titan share price after peaking out near Rs 3887, has witnessed a short correction, after that, consolidating taking support near the Rs 3500 zone, and currently showing signs of improvement with a pullback witnessed, with the RSI also flattening out and indicating a trend reversal to signal a buy on the daily chart. 

A decisive move past the significant 50EMA level of Rs 3620 has further strengthened the bias to anticipate further upward moves in the coming days. With the chart looking attractive, the technical analysts of Prabhudas Lilladher anticipate a positive move ahead and suggest Titan as the Best Stock to Buy for an upside target of Rs 3980 for the medium term, keeping a stop loss of Rs 3530 level.

 

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Happy Investing

Editor’s Desk

 

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