Want to invest in the share market for a short period and get double-digit returns? Then this is the blog for you.
We’ve compiled a list of the top 5 stocks to buy in India for the year 2022. We provide the five best stocks to purchase in India for the short term in 2022 every Friday.
Our technical expert has chosen these five stocks to invest in for a short-term investment in 2022 based on Nifty Fluctuations.
Demat accounts are required if you plan on investing in these stocks short term. For your best trading app adventure, we provide a variety of technology platforms.
Let’s start with the finest supplies to buy in India for the next five years, starting in 2022. But first, let’s take a look at market volatility.
Best Stocks to Buy for 2022
TATA CHEM had been trading in a range of 955-825 over the past ten weeks. Prices gained impetus and broke past the 10-week high on January 13th, showing that the upswing was gathering traction.
The volume also increased significantly, indicating that the rise was gathering traction.
On the weekly chart, the RSI has managed to stay above 50 throughout the downturn. It is currently heading towards the overbought territory, indicating that positive momentum is growing as prices climb.
Prices are expected to grow towards the 1158 level in the future, and we can see more advances towards the 1266 and 1370 levels if prices can breach and hold above the 1158 level.
TATASTEEL has been drifting lower in a correction phase after testing a high of 1534 in August 2021.
The stock appears to have halted its downtrend and entered a consolidation after finding support near 1065, which is close to the 38.2 percent retracement level of the rising advance from 250-1534.
On January 13th, 2022, prices began to gain traction, breaking through the 8-week high on above-average volume.The RSI is headed higher on the weekly chart after forming an upbeat hinge near the 40 mark, indicating a bullish building price.
Prices are expected to grow towards the 1370 mark in the following months, followed by 1480. We advocate a strict stop loss of 1150 on a daily closing basis.
On the monthly charts, the stock has been forming a Higher High Higher Low pattern since May 2020, sustaining at Life Time High levels, indicating a positive undertone for the medium to long term.
Since June 2020, the stock has taken good support at the 20-week SMA and has maintained a bullish formation of Higher Top Higher Bottom pattern, showing favorable feelings for the medium to long term.
On the indicator front, the RSI may be observed trending higher and maintaining above 60 on medium to long-term charts, indicating good stock momentum.
As we advance, immediate resistance is seen at 2758 (38.2 percent extension level of 895 – 2509 projected from 2142), with 2949 (50 percent extension level of 895 – 2509 forecast from 2142) following.
The significant support levels are 2437 (Gap Support) and 2305 (Assistive Technology) (20 Week SMA). On a closing basis, one can purchase the stock at present levels (2558) with a target of 2758 followed by 2949 and a strict stop loss of 2437.
UPL: – CMP: 765 Upside potential of about 13%.
On the monthly chart, the stock has maintained a bullish pattern of Higher Top Higher Bottom following the pullback from 864 to 686 levels, indicating a clear undertone for the medium to long term.
The stock has produced a CIP formation (Change In Polarity) near 686 levels on weekly charts, confirming bullish sentiments for the medium to long term. The stock has bottomed out on the daily charts after finding firm support at the 200 Day SMA. It has begun to climb upwards, maintaining its position above its previous swing high, indicating that the company is now poised for the next up move.
On numerous time frames, the momentum indicator RSI can be observed above the 55 levels and moving higher, indicating that the stock is in a strong bullish trend. 864 (Lifetime High) is the first resistance level, followed by 974. (61.8 percent extension level of the rise from 399-864 projected from 686).
On the downside, monitoring the critical level is 730 (Swing Week Low), followed by 686. (Swing Low). On a closing basis, one can purchase the stock at present levels (765) for a goal of 864, followed by 974, with a severe stop loss of 730.
Sequent Scientific recently broke clear with a significant falling trendline and 50-day moving average resistance. The stock has broken above the previous swing high of 185, signaling that the lower high lower low pattern is no longer valid.
The RSI indicator has risen, showing strong momentum, confirming the breakout. This stock is a good candidate for bottom fishing based on its price movement and momentum indicators.
Sequent Scientific can be purchased on a daily closing basis with a target of 225 and a stop loss of 175.