See why GAIL, Jamna Auto, and Indian Hotels are good short-term

Stocks to purchase: See why GAIL, Jamna Auto, and Indian Hotels are good short-term investments.

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Are you looking to invest in the Indian stock market for short-term gains? Here’s a breakdown of three promising stocks recommended by Rupak De, Senior Technical Analyst at LKP Securities. Let’s dive into the analysis to understand why Indian Hotels, GAIL, and Jamna Auto are worth considering.

  1. Indian Hotels:
    • Buy Price: Around ₹590-595
    • Target: ₹640
    • Stop Loss: ₹569
    • Why consider it: Indian Hotels has broken out from a flag pattern on the daily chart, signaling optimism among investors. It’s been consistently trading above a key moving average, indicating potential for further gains.
  2. GAIL (India) Limited:
    • Current Market Price (CMP): ₹184.50
    • Target: ₹205
    • Stop Loss: ₹176
    • Why consider it: GAIL is on an upward trend, with higher highs and higher lows on the daily chart. It’s finding support around ₹180, backed by positive momentum indicators.

  1. Jamna Auto Industries:
    • CMP: ₹135
    • Target: ₹160-179
    • Stop Loss: ₹117
    • Why consider it: Jamna Auto has broken previous swing highs on the monthly chart, indicating strong buying interest. It’s showing a bullish trend with potential for further growth.

The Indian stock market has been optimistic, especially with the Nifty 50 index remaining above 22,000. A breakout from consolidation and sustained movement above the moving average have fueled a strong rally. The Relative Strength Index (RSI) also confirms positive momentum, suggesting potential for further upward movements. Resistance is expected around 22,400-22,600, while support is seen at 22,200.

In the banking sector, the Bank Nifty index has seen strong bullish momentum, overcoming significant hurdles with notable volumes. The current support zone is between 47,000-46,900, and any pullback toward this zone could present a buying opportunity. There’s a possibility of the index surpassing its all-time high levels around 48,500 in the near future.

See why GAIL, Jamna Auto, and Indian Hotels are good short-term

These stock recommendations come from Rupak De, who has highlighted the technical strengths of each pick. Indian Hotels, GAIL, and Jamna Auto all show promising signs of potential growth in the short term. However, it’s essential to conduct your own research and consider consulting a financial advisor before making any investment decisions.

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