Stocks to buy for short term: IREDA, Apollo Hospitals among 6 stocks that may rise 7-16% in 2-3 weeks, say analysts
Stocks to buy for short term: The Indian stock market shows mild gains despite volatility and uncertainty. Experts recommend six stocks for short-term investment, anticipating potential upside between 7-16% in the next few weeks.
Stocks to buy for short term: Indian stock market benchmarks- the Sensex and the Nifty 50- are in the green with mild gains for January so far despite high volatility amid a plethora of headwinds. Foreign capital outflow amid rising US bond yields, uncertainty surrounding the US Federal Reserve's interest rate path this year, concerns over President-elect Donald Trump's trade tariff policies and anticipation of weak Q3 earnings keep market sentiment fragile.
As of January 7 close, the Nifty 50 is down nearly 10 per cent from its all-time high of 26,277.35. Experts anticipate continued volatility as the market awaits the unfolding of the Trump factor, the outcome of Q3 earnings, and the revelations of the Union Budget 2025.
Vishnu Kant Upadhyay of Master Capital Services and Hardik Matalia of Choice Broking recommend buying the below six stocks for the next 2-3 weeks. They see the upside potential in them in the range of 7-16 per cent in the next two to three weeks. Take a look:
Vishnu Kant Upadhyay, AVP - research and advisory, Master Capital Services
Indian Renewable Energy Development Agency (IREDA) | Previous close: ₹218.72 | Target price: ₹253 | Stop loss: ₹213 | Upside potential: 16%
IREDA is showing a robust bullish setup as prices have started forming higher highs and higher lows, indicating the resumption of an upward trend.
Prices have crossed above their previous swing high with increasing trading volumes.
The MACD indicator has turned positive, signalling a strengthening bullish momentum.
Furthermore, the stock trades above its short- and medium-term moving averages, reinforcing the uptrend.
The RSI remains comfortably in bullish territory near 66, suggesting sustained buying interest without being overbought.
Affle (India) | Previous close: ₹1,734.05 | Target price: ₹1,900, ₹1,940 | Stop loss: ₹1655 | Upside potential: 12%
Affle stock is witnessing a promising bullish technical outlook as prices consolidate within a pennant formation on the weekly chart, suggesting a continuation of the prevailing uptrend.
Notably, the breakout preceding this formation was accompanied by a surge in volume, a critical validation of bullish momentum.
The increasing volume indicates robust participation, reinforcing the likelihood of an impending breakout to the upside.
The daily RSI forms an ascending triangle, a bullish continuation pattern, which aligns with the price action.
The RSI remaining above 60 reflects sustained strength and growing buying momentum, with no signs of overbought conditions yet.
Firstsource Solutions (FSL) | Previous close: ₹406.75 | Target price: ₹435 | Stop loss: ₹378 | Upside potential: 7%
FSL has delivered a bullish breakout from an ascending triangle pattern, indicating a continuation of its upward trajectory.
The stock trades well above its 21-day and 55-day EMAs, underscoring a strong bullish bias.
The MACD histogram is expanding positively, signalling robust momentum.
Additionally, the RSI is at 71, suggesting strong buying interest, though not in overbought territory yet.
The breakout is accompanied by higher volumes, adding conviction to the move.
Hardik Matalia, Derivative Analyst, Choice Broking
Apar Industries | Previous close: ₹11,666 | Target price: ₹12,300, ₹12,500 | Stop loss: ₹10,450 | Upside potential: 7%
Apar Industries is maintaining a strong uptrend with higher highs and higher lows on the daily chart.
The stock has recently given a breakout from a consolidating range, forming an Inverse Head and Shoulders pattern, supported by a significant rise in trading volumes. RSI is at 72.48, trending upwards, indicating strong bullish momentum.
It is trading above all key moving averages, including the short-term (20-day), medium-term (50-day), and long-term (200-day) EMAs, reflecting overall strength.
"If the stock sustains at higher levels, it could potentially rally further towards the ₹12,300-12,500 range, with a recommended stop-loss at ₹10,450 to manage downside risk," said Matalia.
Apollo Hospitals Enterprise | Previous close: ₹7,436.75 | Target price: ₹8,000, ₹8,100 | Stop loss: ₹7,100 | Upside potential: 9%
Apollo Hospitals is at its record high level, maintaining a strong long-term uptrend by consistently forming higher highs and lows over the past few months.
After consolidating near the higher levels, the stock now shows potential for breaking out of its range.
The RSI stands at 61.31 with a positive crossover, trending upward, indicating strengthening momentum.
It is trading above all key moving averages, including short-term (20-day), medium-term (50-day), and long-term (200-day) EMAs—reflecting overall bullish sentiment.
"If the stock sustains above ₹7,550, it could move towards upside targets of ₹8,000-8,100. A stop-loss is recommended at ₹7,100 to manage downside risks effectively," said Matalia.
Equitas Small Finance Bank | Previous close: ₹70.04 | Target price: ₹77, ₹79 | Stop loss: ₹65.5 | Upside potential: 13%
Equitas Small Finance Bank has broken out of a consolidating range with increased trading volumes, indicating strength.
The stock had earlier witnessed significant selling pressure but has now stabilized near its demand zones. RSI is at 68.74, trending upwards, suggesting positive momentum.
It has surpassed its short-term (20-day) and medium-term (50-day) EMAs, reflecting buying interest, while a bounce or retest of its long-term EMA could be expected.
"If it sustains above the ₹70 mark, it could potentially extend its upward move towards the ₹77-79 range. Traders are advised to maintain a strict stop-loss at ₹65.5 to manage downside risks while monitoring the price action for further confirmation of strength," Matalia said.
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Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.
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