Top 5 Stocks
This week, the stock market is expected to be uncertain and may not have a clear direction. The Nifty 50 index needs to close above 22,000 or fall below 21,500 for the market to move in a definite direction. This week, the Nifty 50 index is likely to trade within this range.
The index closed at 21,783, a decrease of one-third of a percent with a bearish candlestick pattern. Experts advise traders to keep a pragmatic approach and monitor the 21,500 level closely. If the market breaches this level, it could trigger panic.
Here are top 5 stocks that you can invest in:
Consider buying the stock with the following details: Buy at the current market price of Rs 123.9, set the stop-loss at Rs 119, and the target price at Rs 133. This trade has a potential return of 7 percent. The stock has recently experienced a rise and is currently taking a break, but is expected to continue its upward trend.
Consider buying a stock at Rs 1,630.6 with a stop-loss at Rs 1,570 and a target of Rs 1,740, which can provide a potential return of 7 percent. The stock has been moving within an upward channel pattern with higher highs and higher lows.
The Relative Strength Index (RSI) technical indicator also suggests further upward momentum from current levels.
Buy Ambuja Cements stock at its current market price of Rs 576.2 per share. Stop-Loss has been set at Rs 552 and a Target of Rs 615 has been forecasted, which will result in a Return of 7 percent.
Ambuja Cements has been performing well, with a strong upward trend observed in a positive channel. This bullish momentum is further confirmed by the short-term moving averages of 20 and 50.
Consider buying this stock at its current market price of Rs 834.4 with a stop-loss of Rs 795 and a target of Rs 885, which would result in a 6 percent return on investment.
The stock is showing a positive trend and has been trading above its 20 and 50-day moving averages. It recently broke through a resistance level of Rs 815 with a significant surge in trading volume, indicating a potential upward trend.
The stock’s current price is Rs 918.5, and it has a stop-loss price of Rs 850. The target price is Rs 1,025, and the expected return is 12 percent. The stock has been consolidating for the last eight trading sessions.
However, its primary trend is bullish, as it is above all important moving averages. Recently, the stock surpassed the crucial swing high resistance of Rs 894 and is still holding above it
Disclaimer: Before you invest in something based on someone else’s ideas, it’s important to do your own research and talk to a certified expert. They can give you advice based on your unique financial situation and goals, so you can make informed decisions.