Stock Tips: By investing in these two stocks amidst the current fall in the market, you can earn a profit of 10 percent in the next three to four weeks.
Market Outlook: After two consecutive days of decline, today (January 20) again there is a sharp decline in the domestic market. With the formation of another long bear candle on the daily chart, there are signs of further downside in the market. The recent weakness in the market can create new higher bottoms. Domestic benchmark index Nifty 50 is currently getting support at the level of 17650. In such a situation, there is a better opportunity to buy on any decline in the short term. It may face strong resistance at the level of 18100. Talking about individual stocks, investors can get up to 10 percent profit in the next three to four weeks by investing in Rashtriya Chemicals and Fertilizers and Aster DM Healthcare.
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Rashtriya Chemicals & Fertilizers – Buy Rating (Current Price: Rs 85.35)
- According to the weekly timeframe chart, there are signs of further upside in its price. Its shares broke the downward sloping trend line at the level of Rs 85-86 and there was slight slippage. In such a situation, there is a possibility of further upside in its price. Apart from this, volume activity is also increasing. Weekly RSI and weekly ADX (Average Direct Index) / DMI (Directional Moving Index) are also showing signs of bullishness.
- In this, you can buy at the current price and if there is a slippage up to Rs 82, you can increase the number of shares. In this, you can invest in the next three to four weeks at a target price of Rs 94 by keeping a stop loss of Rs 79.
Aster DM Healthcare – Buy Rating (Current Price: Rs 192.10)
- After consolidation last week, this week on the weekly timeframe chart, this healthcare stock is showing signs of further upside. In the short term, its prices can break the level of Rs 198-200. On breaking this level, there are signs of a sharp jump in the price of Aster DM Healthcare. Volume activity has increased and weekly RSI is also giving positive signals.
- You can invest in this stock at the current price in the next three to four weeks at a target price of Rs 212 by placing a stop loss of Rs 180. If there is a slippage till the price of Rs 182 then you can increase the number of its shares in the portfolio.
- (Article: Nagraj Shetty, Technical Research Analyst, HDFC Securities)
(The stock recommendations given in the story are those of the respective research analyst and brokerage firm. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)
Domestic benchmark index Nifty 50 is currently getting support at the level of 17650. In such a situation, there is a better opportunity to buy on any decline in the short term.
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