Best Stocks to Buy in India for Short Term in July 2021: Indian stock markets gained less than one percent in the month of June 2021 but expected to trade higher in July month. The higher F&O rollover percentage signaled positive sentiments in the Indian markets for the month of July. We feel Nifty and Sensex will touch a new high again in the month of July 2021.
We have done an analysis of stocks and selected the 4 best stocks to buy in India for short term in July 2021.
These are the 4 Best Stocks to Buy in India for Short Term in July 2021
Maruti Suzuki India Ltd – CMP Rs 7573.85, Buy on Dips, Target – 7750
Our first Stock Recommendation for the month of July 2021 is from the Auto Industry- Maruti Suzuki India Ltd. The Company is a subsidiary of Suzuki Motor Corporation, Japan, which is India’s largest passenger car maker. The Company, formerly known as Maruti Udyog Limited, was incorporated as a joint venture between the Government of India and Suzuki Motor Corporation, Japan in February 1981. Presently, Japan’s Suzuki Motor Corporation owns equity of 56.2% in Maruti Suzuki India Ltd.
The share price of Maruti Suzuki has closed at Rs 7573.85 on 2nd July 2021. On a weekly basis, the stock was down 0.98 percent and gained 5.42 percent on a monthly basis. The stock has touched a 52-week high at Rs 8329 and a low at 5750. The sales number of Maruti Suzuki in the month of June has come better than expected. We feel the decline of Covid-19 infection in India and the reopening of businesses will further boost the sales of Maruti in the coming months. That is why we have selected Maruti Suzuki as the best stock to buy in India for short term.
The RSI of Maruti Suzuki is at 65.8, which indicates it is technically strong and not in the overbought zone. According to the MACD analysis, the MACD line is at 155 and the Signal Line is at 122 also indicates Maruti is technically strong. According to exponential moving average analysis, Maruti’s share price is in a strong uptrend. It has a major support level at Rs 7310- 7133.
Our Stock Recommendation: We suggest accumulating the Maruti Suzuki at CMP or on dips with a stop loss of Rs 7310 for the target of Rs 7628-7672-7750 and for the long term target of 7930
Dr. Reddy’s Lab – CMP Rs 5575.70, Buy on Dips, Target – Rs 5890
Our second Stock Recommendation is an Indian multinational pharmaceutical company – Dr. Reddy’s Lab. Active Pharmaceutical Ingredients (API) are their core strength, having a wide range of portfolios. The company also manufacturers generic medicines with business spread across India, Russia, the US, and Germany.
The share price of Dr. Reddy’s Lab closed at Rs 5575.70 on 2nd July 2021. On a weekly basis, the share price gained 5.02 percent, and on a monthly basis, it was up by 4.96 percent. The share price touched Rs 5580 as a 52-week high and Rs 3814 as a 52-week low.
On 1st July DCGI informed Dr. Reddy to submit Russian efficacy data on the Sputnik Lite vaccine ( Single dose of Coronavirus vaccine) and says no need to conduct a separate trial is positive news for Dr. Reddy’s Lab. We feel that Dr. Reddy’s Lab can be the best stock to buy in India for short term for a higher return.
The RSI of Dr. Reddy’s Lab is 69, which indicates the stock is not in the overbought zone. According to MACD analysis, the MACD line is at 68 and Signal Line is at 43, a bullish crossover has just happened. It’s a positive signal. The exponential moving average indicates Dr. Reddy’s share price is in a strong uptrend. It has major support levels at Rs 5351-5223
Our Stock Recommendations: We suggest accumulating the stock at CMP and on dips with a stop loss of Rs 5351 for the target of Rs 5684-5780-5890
Tata Elxsi – CMP Rs 4429.55, Buy on Dips, Target – 4920
Our third Stock Recommendation for July 2021 is from the Computer & Software sector and is under Tata Group- Tata Elxsi Ltd. The Company is one of the world’s leading design and technology service providers across industries, including Automotive, Broadcast, Communications, Healthcare, and Transportation. The company provides hardcore technology and strength in design. The company also provides end-end solutions of System Integration and Support, Software Development, and Services.
The share price of Tata Elxsi has closed at Rs 4429.55 on 2nd July 2021. On a weekly basis, the share price gained 17.5 percent and on monthly basis, it gained 24.2 percent. It has touched a 52-week high at Rs 4455 and a 52-week low at 876. The stock is fundamentally strong and technically it has given breakout backed by above-average volume indicates a good stock to invest in for short terms.
The RSI is 79.5, according to RSI analysis, Tata Elxsi is at an overbought zone, indicating that the bulls are in control of the trend. The MACD line is at 167 and Signal Line is at 84. According to MACD analysis, the stock is technically strong. The exponential moving average indicates Tata Elxsi is in a strong uptrend. It has a major support level at Rs 3884- 3624
Our Stock Recommendation: We suggest accumulating the stock at CPM or on dips with a stop loose of Rs 4135 for the target of Rs 4624-4715-4920
Hindustan Unilever Limited (HUL) – CMP Rs 2487.30, Buy on Dips, Target – Rs 2750
Our fourth and last stock recommendation for July 2021 is from the FMCG sectors is – Hindustan Unilever Limited. The Company is India’s largest fast-moving consumer goods company with leadership in Home & Personal Care Products and Foods & Beverages. The company headquarters is in Mumbai and it’s a subsidiary of Unilever an Anglo-Dutch Company.
The share price HUL closed at Rs 2487.30 on 2 July 2021. On a weekly basis, the HUL share price gained 1.58 percent and on monthly basis, it gained 5.45 percent. The share price has touched Rs 2533.95 as a 52-week high and Rs 2000.05 as a 52-week low. We feel that the stock is technically strong and has the potential to touch new highs in the coming days that is why we have selected HUL as the best stock to buy in India for short term.
The Share price of Hindustan Unilever is technically strong, the RSI is at 61.3 indicates not in the overbought zone. The MACD line is at 50 and Signal Line at 42, which indicates the stock is technically strong at this level. According to the exponential moving average, the share price of HUL is in an uptrend. It has a major support level at Rs 2447-2405.
Our Stock Recommendation: We suggest accumulating the stock at CMP with a stop loss of Rs 2430- 2390 for the target of Rs 2524-Rs 2600- 2750
Also read, Indian Stock Market Prediction Next Week (28 June-2 July)
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