Best Stocks to Buy in India for Short Term in June 2021: Indian stock market indices closed higher for the second consecutive week on 28 May. Nifty gained almost 5.5 % in May and touched a record high at 15469.65 levels on 28 May. The Indian equity markets are looking positive for the near term due to the declining coronavirus cases, better Q4 earnings, relaxation in lockdowns, and hopes of reopening the business.
Nifty is now heading towards 15600 levels and it can touch in June with strong support at 15380-15275 levels. There are few important events/economic data lined up next week, these events will set the direction of the market. We have done the analysis of few stocks for the short term, which you can buy to earn a good return.
These are the 4 Best Stocks to Buy in India for Short Term in June 2021
UPL Limited- CMP Rs 811.7, Buy on Dips, Target – 847
Our first stock recommendation for June 2021 is UPL Limited, from the chemical Industry. It’s a Nifty 50 Stocks, provides crop protection solutions. The Company is engaged in the chemical business of agrochemicals, industrial chemicals, chemical intermediates, and specialty chemicals.
The UPL share price closed almost 1 percent lower on 28 May at Rs 811.7. The 52 weeks high of the stock is Rs 825.5 and touched low at 388.2. Weekly, the stock gained 4.08 percent and on monthly basis, it jumped 31.8 percent. We feel UPL limited is one of the best stocks to buy in India for short term
The RSI of UPL is at 77.3 is showing in the overbought zone. The MACD is at 64 and Signal Line is at 44. According to MACD analysis, UPL is technically strong. According to exponential moving average analysis, the share price of UPL Ltd is in a strong uptrend and has a major support level at Rs 740-674.
Stock Recommendation: You can accumulate 50% at CMP and balance on dips up to Rs 784 for the target of Rs 825-836-847 with a stop loss of Rs 740-674
Reliance Industries- CMP Rs 2094.80, Buy at CMP, Target- Rs 2395
Our second-best stock to buy in India for short term is Reliance Industries. This Nifty 50 stock is from Oil & Gas industry. The company is the largest private-sector enterprise, with businesses in the energy and materials value chain. The company mainly operates in Refining, Petrochemicals, Oil & Gas, Organised Retail, Digital Services, and Telecom segments.
The share price of Reliance Industries closed 6% higher and was the top gainer in the Nifty 50 index on 28 May. The Reliance share price gained 4.61% in the last week. The 52-weeks high of Reliance Industries is Rs 2369.35 and the stock touched Rs 1449 as a 52-weeks low. We feel the share price of Reliance Industries is on a strong uptrend now.
The RSI of Reliance Industries is 68.1, indicating technically strong and not in the overbought zone. The MACD is at 11.4 and the Signal line is at -0.3. According to the MACD analysis Reliance is looking technically strong. The share price of Reliance Industries has got above its 50-day exponential moving average which is a positive signal. The stock is in an uptrend and has strong support levels at 1980
Stock Recommendation: You can accumulate the stock at CPM for the short term target of Rs 2206-2290-2395 with a stop loss of 2030-1980
HDFC LTD- CMP Rs 2541.35, Buy at CMP, Target- 2643
Our third best stock picks to buy in India for the short term is HDFC Ltd. Housing Development Finance Corporation Limited (HDFC Ltd) is an Indian-based holding company. The company is engaged in financing by way of loans for the purchase or construction of residential houses, commercial real estate, and certain other purposes, in India.
The share price of HDFC gained 1.30 % on 28 May. The stock has gained almost 1 percent during the week ended 28 May. It has touched a 52-weeks high at Rs 2896 and a low at Rs 1577. We feel the stock has got potential to give a return of 5-8% in the short term.
The RSI of the stock is 54.2 indicating technically strong and not in the overbought zone. The MACD is at 10.8 and the Signal Line is -1.7, According to MACD analysis, the HDFC share price is technically strong. In the exponential moving average analysis, HDFC share price is in an uptrend and has support levels at 2510.
Stock Recommendations– We suggest to Buy the stock at CMP for the short term target of Rs 2580-2619-2643 with a stop loss of Rs 2500
ICICI Bank- CMP Rs 643.05, Buy CMP or on dips, Target- Rs 698
Our fourth best stock to buy in India for short term is ICICI Bank. The Nifty 50 stock is the second largest bank in India. The Bank is engaged in providing a range of banking and financial services including commercial banking, retail banking, project, and corporate finance, Insurance, Venture capital, and private equity.
The share price of ICICI Bank closed 1.41% lower on 28 May. The stock gained almost 1 % during the week ended 28 May and 3.48% on a monthly basis. The share price of ICICI Bank has touched Rs 679.4 as the 52-weeks high and low at Rs 320. We can expect a positive movement in this stock ahead of the RBI policy outcome on 4 June.
The RSI of ICICI Bank is 60.6, indicating a technically strong and not in an overbought zone. The MACD is at 15.4 and the Signal line at 12.7 also shows ICICI Bank share price is technically strong. According to exponential moving average analysis, ICICI Bank is in a strong uptrend and has a major support level at Rs 624-606
Stock Recommendations– You can buy the stock at CMP or on dips up to Rs 639 for the short target of Rs 672- 698 with a stop loss of Rs 624-606
You can also follow our Daily Morning Report and Nifty and Bank Nifty futures for next week.
Also read, Best Stocks to Buy in India for Short Term in July 2021
Algo Trading Definition: Pros and Cons of Algorithmic trading
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