3 Best Stocks to Buy Now [April 2022]
Best stocks to buy now in India for the Short Term in April 2022: In the current market conditions buying stocks without proper analysis or strategy is just like gambling. It is better not to depend on the fundamentals only or technicals of stock, you need to analyze both along with the market conditions, to get the best result. Again, It is not an easy task to do a lot of research and analysis, you need a scanner, knowledge, and experience for this kind of analysis.
You can always increase your knowledge by reading these books and taking online free courses. But today, we have run the scanner for you, our team has selected the 3 best stocks that you can buy right now for the short-term return. So let’s check out which are the 3 best stocks to buy now.
Best Stock to Buy Now- IndusInd Bank Ltd |CMP 983.40 | Target 1060
The IndusInd bank stock price has closed at Rs 983.40 on 13 April 2022. The private lender has announced positive results for the last three consecutive quarters. It posted a healthy long-term growth as Net Interest Income ( ex other income) has grown by an annual rate of 18.01 %
Technically, the stock has picked up momentum from the consolidation zone of around 920-940 levels, improving the bias maintaining above the 50EMA levels of 920 and currently with a higher bottom formation pattern has indicated strength with potential to rise further.
With the RSI on the rise and getting better, we recommend you to buy the stock for the target of 1060 keeping a stop loss of 920.
Best Stock to Buy Now- ONGC Ltd | CMP 174.25| Target 207
The ONGC share price closed at 174.25 on 13 April 2022. It is a low debt fundamentally strong performing company, listed under the Oil & Gas sectors. The company has delivered very strong results in the last four quarters.
The ONGC stock is trading at a discount compared to its average historical valuations. In the last year, the stock has generated a return of 70.75%, its profit has risen by 301.9%. The PEG ratio of the company is 0.02 and at the current price, the company has a high dividend yield of 5.3.
Technically, ONGC stock has turned bullish from the mildly bullish on 13 April 2022. Multiple technical factors that indicate the bullishness of the stocks are MACD, Bollinger Bands, and KST. The share price of ONGC is now trading above 5 days moving average.
We recommend you buy the stock at CMP for the short term target of Rs 207 with a stop loss of Rs 163
Best Stock to Buy Now- ITC Ltd |CMP Rs 269.55| Target Rs 323
The stock price of ITC Ltd closed at 269.55 on 13 April 2022. It is a strong long-term fundamental strength company with an average return on Equity (ROE) of 23.64%, the Net Sales of the company have grown by an annual rate of 6.66%. Over the past year, the ITC has generated a return of 29.16%, its profits have risen by 11.6%, and the PEG ratio of the company is 1.96.
The company has a low Debt to Equity ratio ( avg) of 0 times. With an ROE of 23.4, the stock is at a fair valuation with a 5.4 Price to Book Value. The stock is trading at a premium compared to its average historical valuations. At the current price, the company has a high dividend yield of 4.1
Technically, the ITC stock turned bullish on 9 March 2022 and generated 17.63% returns since then. The multiple indicators like MACD, Bollinger Band, KST, and OBV indicate the stock is bullish.
We recommend you to buy the stock at the CMP for the short term target of Rs 297 and for the medium-term target of Rs 323-344
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You may also like to read, 3 Best Stocks to Buy in India for Short Term in March 2022
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Happy Investing!
Editor’s Desk
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