- Date : 11/11/2022
- Read: 2 mins
Top stocks that can deliver up to 28% returns
Despite volatility, the stock market shows a strong growth potential indicating a bullish trend. The Nifty 50 is poised for growth as its weekly, and daily charts are showing positive momentum. The 18,000 level has been maintained for the last two weeks. The RSI indicator is also performing over 60.
Analysts believe that if Nifty can maintain the 18,350 level, it can move on to the 18,604 level soon. Given the positive potential of Nifty, here are three stocks that can be a good addition to your portfolio.
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1. Bharti Airtel
The company's stock prices remained in the green despite the movement of Nifty50, the benchmark index. After a breakout in the last week of September, the prices have bounced on the upside. The Bollinger bands have grown wider, and the RSI has remained over 60. Analysts expect the prices to rise in the short run delivering attractive returns.
2. Britannia Industries
The scrip has overtaken the previous swing high of Rs.3949, which contradicts the lower low and lower high formation. Last week, the price did break out from the Inverse Head and Shoulder pattern, indicating an uptrend. The RSI has also shown a breakout confirming the positive momentum. Currently, the prices are closely over the Bollinger bands, indicating rising volatility in stock prices, which are expected to rise.
3. Elecon Engineering Company
The stock has good positive momentum and is expected to deliver the highest returns as its prices are trading at record-high levels. The prices exhibited a breakout from the Rectangle pattern, indicating the uptrend's continuity. The scrip charts, compared against the benchmark, also exhibit a breakout which is a positive indicator. The Bollinger bands of the stock are expanding, which points to rising volatility.
The bottom line
If you are looking for short-term returns, these stocks can be good picks, given the trends that their technical charts are pointing to. You can invest in these stocks over the next two or three weeks and bank on their expected growth.
Related - Here's a look at other hot stocks that can deliver good returns in 2022
Disclaimer: This article is intended for general information purposes only and should not be construed as investment or legal advice. You should separately obtain independent advice when making decisions in these areas.
