Best stocks to buy now: Indian stock markets closed at a record high on Thursday, 14th October. The positive economic data, declining Covid-19 infections, liquidity, and expectation of better Q2 earnings are the reasons for upbeat market sentiments. We feel the market mode would remain positive in the month of October 2021. We have run our scanner and found out the 5 best stocks to buy now for a good return in the short term
5 best stocks to buy now
India Cements Ltd
The share price of India Cement touched a 52-week high of Rs 227.8 on 14 October 2021 and closed at Rs 214.40. It has gained 88% from its 52-week low of Rs 114 on 29 October 2020. The share price of India Cement was trading with huge volume on Thursday with a 7.8% gain.
Technically, the stock is looking strong, its RSI is at 71.5 slightly above its overbought zone. On a daily chart, the MACD is 5.69, and Signal Line is 4.95. MACD is above its center and the Signal line is a bullish indicator. The stock is trading above 20 EMA (194.3) is positive. We recommend this stock to buy now at CPM Rs 214.40 or on dips with a stop loss of Rs 201 for the target of Rs 232-254-274
Adani Ports & Special Economic Zone Ltd
The share price of Adani Ports closed at Rs 812.80, it gained 7% on Thursday 14 October with huge volume. The stock has touched a 52-week high of Rs 901 on 9 June 2021, and gained 138% from its 52-week low of Rs 341.1 touched on 29 October 2020
Technically, the stock has given a rounded breakout on the daily chart and looking bullish. The RSI of Adani Ports is at 73.1, slightly on the higher side. The MACD is 7.3 and the Signal line is at 2.23. MACD is above the center and the Signal line is a bullish indicator. The stock is trading above 20 EMA ( 748.6) is also positive. We recommend the stock to buy now with a stop loss of Rs 760 for the target of Rs 890 -945 -995
IndusInd Bank
Our third stock recommendation is IndusInd Bank. The share price of IndusInd Bank made a new high of Rs 1215 last Thursday, 14 October, and closed at Rs 1210. The stock gained 111.91% from a 52-week low of Rs 571.
Technically, the stock is looking strong and its RSI is at 68.9 not into the oversold zone. The MACD is 35.4 and the Signal line is 31.78. The MACD is above its center and the Signal line indicates the stock is bullish. The stock is trading above 20 Day EMAs ( 1141.3) is positive. We recommend the stock to buy now at the current market price with a stop loss of Rs 1135 for the target of Rs 1320 – 1450
Power Finance Corporation Ltd
The share price of Power Finance has touched a new 52-week high last Thursday, 14 October at Rs 153 and closed at Rs148.95. The share price of PFC has gained 76.8% from its 52-week low of Rs 84.30 touched on 16 October 2020.
Technically, the stock is looking bullish, It has formed a long-term TRIANGLE pattern, and is on the verge of a breakout. The RSI is at 68.6 not in the overbought zone. MACD is 3.02 and the Signal line is 2.82. MACD is above center and the Signal line indicates the stock is bullish. The stock is trading above 20 EMAs ( 140.2) is positive.
Our stock recommendations– One can Buy the Stock above Rs 154 closing with a stop loss of Rs 135 for the target of Rs 165-178-190
National Aluminium Company Ltd
The share price of the National Aluminium has touched a 52-week high of Rs 108.8 last Thursday, 14 October, and closed at Rs 107.7. It has gained 264.75% from a 52-week low of Rs 29.5 touched on 16 October 2020.
Technically, the stock is looking strong and not in the overbought zone, its RSI is at 65.9. MACD is 3.42 and the Signal line is at 2.51. MACD is above its center and the Signal line indicates the stock is bullish. The stock is trading above 20 EMAs ( Rs 97.4) is positive. We recommend the stock to buy at CMP or on dips with a stop loss of Rs 101 for the target of Rs 115- 120
So above are the 5 best stocks to buy now, if you like the post please share with others.
You may also like to read, 5 Best Shares to buy now in October 2021
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