Buy these two stocks for near term gains while Sensex Nifty consolidate with a downward bias

Stock Tips: Nifty is not expected to rise right now, invest in these two stocks in the short term to get bumper profits

Investors can make a profit making strategy by investing in Bharat Electronics and SAIL for the next 15-26 trading days.

Stock Tips: Nifty has been fluctuating within a range for the past few weeks. This index is also touching the higher level and is also reaching the lower level, which is indicating a downtrend for Nifty. If Nifty crosses below the level of 15513, then short term correction can be seen in it. In such a situation, the downside target of Nifty can be 15432. The bulls will be able to control the market only when the Nifty makes a higher bottom on the 60-minute chart. Until this happens, the bears will remain in control of the market. In such a situation, investors can make a strategy to earn profits by investing in Bharat Electronics and SAIL for the next 15-26 business days.

LIC and BPCL preparing for disinvestment in FY22, government’s main focus on selling their stake

Bharat Electronics

  • For the past few months, Bharat Electronics has been continuously touching the peak and touching the low level also. This week it has touched a new record level of 52 weeks.
  • On Wednesday, Bharat Electronics has broken the recent trading range 177-188 with 20 days SMV (Simple Moving Average) support. Due to this, there are signs of continuation of the uptrend in this stock.
  • In the SMV of 20 days and 50 days, Bharat Electronics is showing an upward slope i.e. technical indicators are giving positive signals. Daily Momentum Indicators like 14-day RSI (Relative Strength Index) are also showing gains, giving rise to the expectations of the stock.
  • In the coming weeks, Bharat Electronics can reach a new record high and in such a situation, investors can invest in it by placing a target of Rs 211 with a stop loss of Rs 181 at the level of 188-191.

SAIL

  • Slipping from a high of Rs 151 in May 2021, SAIL got support at the level of Rs 119 in June 2021.
  • This stock has been trading in a range since last few weeks. On Wednesday, SAIL crossed the recent trading range of 120-132 levels on the back of trading above average volume. The metal index sector is also performing well at this time, due to which there is a possibility of a rise in this stock.
  • Its stock is trading above 20 day and 50 day SMA i.e. technical indicators are giving positive signals. Daily Momentum Indicators like 14-day RSI are also showing gains and there is no overbought situation, which gives hope for a rally in the stock.
  • In the coming weeks, there may be an increase in the sale. In such a situation, investors can buy in the range of Rs 132-135 by placing a target of Rs 155 on a stop loss of Rs 126.

(Article: Subhash Gangadharan, Senior Technical and Derivatives Analyst, HDFC Securities)
(The stock recommendations given in the story are those of the respective research analysts and brokerage firms. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)

Get Business News ,, latest India News ,, and other breaking news on share market, investment scheme and much more on Business Khabar. Like us on Facebook, Follow us on Twitter for latest financial news and share market updates.

.

realistic reality mobile new
Default image
Business Khabar
We aim to constantly bring to you all the latest and most updated industry news across all major categories. With a wide variety of topics and categories under our umbrella, we bring to you the latest news and activities in the top sought areas of public interest.
Articles: 5415