3 best stocks to invest in India for the short term (8-12 March)
The 3 best stocks to invest in India for the next week are from the Nifty50 index. We have done an analysis on various parameters to find out the winning stocks for the next week. According to our analysis, we have come to a conclusion of three Nifty50 stocks which you can buy and make good returns.
Bharat Petroleum Corporation Ltd (BPCL) – CMP Rs 461.8 | 5th March 2021| Target Rs 550
The Bharat Petroleum Corporation Limited (BPCL) is an Indian public sector oil and gas company headquartered in Mumbai. Recently, BPCL was in news, the board has approved the sale of a 61.65% stake in Numaligarh Refinery (NRL) to a consortium of Oil India, Engineers India Ltd (EIL), and Government of Assam for Rs 9875.96 crores.
BPCL is one of the best stocks to invest in India at present. The share price of BPCL closed at Rs 461.8 on 5th march. It has touched a 52-week high at Rs 482.5 and a low at Rs 252. The BPCL share price has gained 2.66% on a weekly basis.
Technically, the BPCL share price is looking strong. The RSI of the share is 65.6 and it is not overbought levels. According to the MACD analysis, the MACD line is at 15 and the Signal line at 12 indicating the share price is technically strong. The exponentially moving average analysis, BPCL share price is in a strong uptrend. It has a major support level at Rs 440-420-399
Our Stocks Recommendations: You can buy the stock at the current market price for the short term target of Rs 481-502 and can hold for the medium-term target of Rs 550 with a stop loss of Rs 428
Hindalco Ltd – CMP Rs 337.85 | 5th March 2021| Target Rs 402
Hindalco Industries Limited an Indian aluminum and copper manufacturing company is a subsidiary of the Aditya Birla Group. Its headquarter is located in Mumbai. In the last analyst meeting to explain its capital allocation policy for the next five years, the company said will spend the US $1.5 bn in Novelis/India over the next five years including ongoing CAPEX
The second-best stock to invest in India for the next week is Hindalco. The share price of Hindalco touched a 52-week high at Rs 361.3 and a low at Rs 84.9. Though on a weekly basis the share price has changed negatively by -0.71%, on monthly basis it gained 28.9%.
The share price of Hindalco is looking technically strong. The RSI is at 64.5 indicating not in overbought levels. According to MACD analysis, the share price of Hindalco is technically strong as its MACD line is at 23 and the Signal line is at 22. The exponential moving average analysis says the stock is in a strong uptrend. It has a major support level at Rs 319-285-223
Our Stocks Recommendations: You can buy the stock at the current market price for the short term target of Rs 348-360 and can hold for the medium target of Rs 402 with a stop loss of Rs 319
Reliance Industries – CMP Rs 2178.7 | 5th March 2021| Target Rs 2320
Reliance Industries Limited ( RIL) is an Indian multinational conglomerate company headquartered in Mumbai, it engaged in energy, petrochemical, retail, textile, and telecom. The share price of Reliance Industries gained after the recent news of increasing stake by its subsidiary RSBVL in skyTran Inc.
Our third best stock to invest in India for the next week is Reliance Industries. The share price of Reliance has touched a 52-week high at Rs 2369.35 and a low at Rs 875.65. On a weekly basis, Reliance’s share price gained 4.45% and 13.3% on a monthly basis.
Technically the share price of Reliance Industries is looking strong. The RSI of RIL is at 63.8 not in overbought levels. According to the MACD analysis, the stock is technically strong as the MACD line is at 50 and the Signal line is at 36. The exponential moving average analysis, Reliance share is in a strong uptrend. It has a major support level at Rs 2080- 2031-1924
Our Stocks Recommendations: You can buy the stock at the current market price for the short-term target of Rs 2204-2240 with a stop loss of Rs 2080. You can also hold the stock for the medium target of Rs 2320.
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