Looking for promising investment opportunities in the current market scenario? Riyank Arora, Technical Analyst at Mehta Equities, has identified three stocks that show strong potential for short-term gains. Here's his expert analysis and recommendations:
Bharti Airtel: Telecom Giant Showing Bullish Signals
The telecommunications behemoth is currently trading around ₹1,180-1,185 levels and appears poised for further upward movement. According to Arora's technical analysis, Bharti Airtel has established strong support at ₹1,150, making it an attractive entry point for investors.
Key levels to watch:
- Support: ₹1,150 (crucial level)
- Resistance: ₹1,220-1,230 range
- Stop loss: ₹1,130
Motilal Oswal Financial Services: Breaking Resistance Patterns
This financial services stock is demonstrating significant technical strength, currently trading around ₹1,770-1,780. The stock has successfully broken out of a falling trendline resistance, indicating potential for continued upward momentum.
Trading strategy:
- Entry range: ₹1,770-1,780
- Target: ₹1,850-1,860
- Stop loss: ₹1,730
PayTM (One 97 Communications): Recovery Play in Focus
Despite recent challenges, PayTM is showing signs of stabilization and potential recovery. The stock is currently trading around ₹370-375 and has formed what technical analysts call a "double bottom" pattern around the ₹350 mark.
Technical outlook:
- Current range: ₹370-375
- Pattern: Double bottom formation near ₹350
- Target: ₹400-410
- Stop loss: ₹345
Market Context and Investment Approach
The Indian stock market continues to offer selective opportunities despite global uncertainties. These three picks represent diverse sectors - telecommunications, financial services, and fintech - providing investors with varied exposure.
Important note: While these stocks show promising technical setups, investors should consider their risk tolerance and conduct personal research before making investment decisions. Short-term trading carries inherent risks, and proper position sizing is crucial.
