3 Best Stocks to Buy in India for Short Term in March 2022
3 Best stocks to buy in India for Short Term in March 2022: Indian markets have corrected more than 10 percent in the last two months due to the Russia-Ukraine war, fear of the US Fed interest rate hike to control inflation, surges in crude oil, and other commodity prices and fresh covid cases in China. Investors across the globe sold equity and preferred safe-haven assets. FIIs have offloaded shares in the Indian markets like never before.
In the last few days, the global markets have reacted positively, as crude oil prices stabilized. Fed has now increased the interest rate by 25 bps, as widely expected and investors are hopeful about peace talks between Russia and Ukraine will end the war soon. The equity markets have started showing upward momentum as both foreign institutional buyers as well as retail traders are coming back. In this situation, we feel, it is the best time to invest in good quality stocks.
We have run our screener and after analyzing various parameters selected the 3 best stocks to buy in India for the short term in March 2022.
SRF CMP: Rs 2588 | Buy
The share price of SRF closed at Rs 2588 on 17 March 2022. The stock is trading near the 52-weeks high, just 3.55% away from the 52-weeks high of Rs 2680. The share price of SRF is gaining consistently for the last 4 days and has risen 14.99% return during the period. The stock is fundamentally very strong and has announced a very positive December 21 end quarterly result.
The technical indicators like MACD, Bollinger Bands, Moving Average are showing the stock is bullish. The daily chart is showing a breakout has just happened. It can bring in the momentum and resumption of a larger uptrend. You can buy at CMP or on dip around 2500, stop loss at 2350, and target till 2740.
Reliance Industries | CMP- Rs 2481 | Buy
The share price of Reliance Industries was closed at Rs 2481 on 17 March 2022. The stock is gaining for the last 2 days and has given around a 5% return during the period. The stock is fundamentally strong and has announced very positive Q3FY22 results.
The technical trend has recently changed from sideways to mildly bullish. The technical indicators like Bollinger Band, Moving Averages are indicating bullish. The stock is currently trading above 5 days, 20 days, 50 days, 100 days, and 200-day moving averages.
The stock has given a decent rise from the lows near 2200 and currently, on a daily chart it has given a breakout above 2445 levels which can open the gates for a further upside for the target of 2570-2600-2720
ICICI Bank – CMP Rs 720 | Buy
The share price of ICICI Bank has closed at Rs 720 on 17 March 2022. The stock is gaining for the last 8 days and made a 10.15% return during that period. The stock is fundamentally strong and has announced very positive Q3FY22 earnings.
Technically the stock has recently entered into a mildly bullish trend from sideways. The technical indicators MACD and KST indicated the stock is bullish. The stock has recently given a breakout in the daily chart to strengthen the bias and further upside move till 775-820 is anticipated. The RSI has been on the rise to improve the bias and you can keep the stop loss near 675 and buy this stock at the current market price.
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