Stocks To Buy: 2 Small Cap Stocks That Can Offer Double-Digit Return In Short Term

Updated: Wednesday, August 17, 2022, 11:58 [IST]

Indian markets in trade on Wednesday (August 17, 2022) opened firm on the back of strong global cues. Sensex reclaimed 60,000 levels while Nifty also hit 17,900 mark. Meanwhile, the broader markets are largely outperforming the headline indices. The recent gains on the indices are largely given the fear of missing out (FOMO) among FII investor category. So, given this landscape where global cues shall continue to hold importance after robust set of Q1 earnings season, here are 2 'Buy' calls for 3 months time horizon.

Astra Microwave: Buy | LTP: Rs 277.55 | Stop-Loss: Rs 250 | Target: Rs 350 | Return: 26.1 percent

Technical observations on Astra Microwave

HDFC Securities has signalled a 'Buy' call on the small cap telecommunications equipment entity. Last week the stock after corrections for a few sessions gave a breakout with higher volumes. Also,
the stock has breached above downward sloping trend line. The brokerage observes the formation of bullish pattern on daily and weekly timeframe. As for the bullish trend in the stock, the scrip of Astra Microwave is trading above 21 EMA.

Additionally, momentum oscillators like RSI and MACD are giving bullish indication suggesting bullish movement for the stock for few more weeks.

About Astra Microwave

Astra Microwave is engaged in designing and manufacturing of radio frequency (RF) and microwave super components and sub-systems finding applications in defense, space, telecom, meteorology and civil communication systems.

Triveni Turbine: Buy | LTP: Rs 196 | Stop-Loss: Rs 177 | Target: Rs 230 | Return: 17.35 percent

Technical observations on Triveni Turbine

HDFC Securities has given a buy call on Triveni Turbine and it is the brokerage's technical position pick. As per the brokerage, the stock has broken out from the downward sloping trendline on the daily chart with higher volumes. Primary trend of the stock is also positive as stock price is placed above 200 day EMA. Stock price is forming higher top higher bottom formation on the daily chart. RSI and MFI oscillator is placed above 60 and rising upwards, Indicating strength in the current uptrend. Plus DI is trading above minus DI while ADX line is placed above 25, Indicating momentum in the current
uptrend

About Triveni Turbine

Triveni Turbine limited is a holding company, engaged in the manufacturing of steam turbines and parts thereof. The company's m-cap is at Rs. 6340 crore. The scrip's 52-week high and low are Rs. 231.7 and Rs. 120.85, respectively.

Disclaimer

The stocks mentioned in the story are taken from the brokerage report of HDFC Securities. Readers should not construe the story as an investment advice into the given stocks, instead should carry out their own due-diligence while investing in market linked securities.