Stocks News

ACC, Max Financial and ICICI to give good short-term returns

Let’s do a quick recap on the benchmark indices in the last trading session. The Nifty continued to surge on its six-day record but dropped at the end with the closing session.

It dropped down after touching the record high beyond 15,259 levels on February 9.

The Indian stock markets witnessed higher levels profit bookings on the back of IT and FMGC sectors.

Coming towards the derivatives front, both the Put writers and Call writers added huge amounts on the open interest rates at 15,200 levels.

Also, the 15,000 level is going to become a crucial support for the Nifty. Moreover, 15,200-15,300 levels will likely to play as an immediate hurdle in the upcoming session.

However, there are three buy calls available for the next two to three weeks.

These scrips are ACC, Max Financial Services and the ICICI Lombard General Insurance.

Max Financial stock has been continuously surging up on the charts forming higher bottoms. The stock is currently holding well above both short and long-term moving averages on both the weekly and daily charts.

Traders can invest in this stock in Rs 735-Rs 740 range.

Moreover, traders can also invest in ACC in the range of Rs 1,740 – Rs 1,762 at an upside of Rs 1,899. Further, ICICI stock is also a good option as per the experts for the short-term investments.

Investors can buy this stock in Rs 1,480-1,515 range. The stock is currently trading with formation of higher highs on the daily charts.

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