Analyst Predicts 10-17% Short-Term Returns for CreditAccess Grameen, Medplus Health Services, and Rainbow Childrens Medicare

In a market analysis provided by Vidnyan Sawant, AVP – Technical Research at GEPL Capital, investors are presented with insights into the current market conditions and recommendations for potential investments that could yield short-term returns.

Sawant begins by discussing the performance of the Nifty50 index, highlighting a recent breach of significant support at 19,200, resulting in a bearish pattern with lower tops and lower bottoms, indicative of a bearish sentiment for the medium term. Moving from the monthly to daily charts, the analysis reveals key support and resistance levels, along with the relative strength index (RSI) consistently registering below 50, signifying negative momentum and an overall bearish outlook for the Nifty Index.

The article goes on to present three buy calls for short-term investments:

Medplus Health Services: Sawant recommends buying Medplus Health Services, citing a change in trend polarity around Rs 770. The stock broke out from a falling wedge pattern, accompanied by a surge in trading volumes. Additionally, the RSI consistently above 50 on both daily and weekly charts indicates growing momentum. The target for this investment is Rs 920, with a stop-loss at Rs 772.

CreditAccess Grameen: This stock is suggested for a short-term buy, given its resilience amid market downturns and an upward trajectory against the Nifty index. The sustained position above the 12-day exponential moving average (EMA) and an unfilled rising gap further support the bullish stance. The daily RSI consistently above 50 points to positive momentum. The target is Rs 1,700, with a stop-loss at Rs 1,445.

Rainbow Childrens Medicare: The analysis recommends buying Rainbow Childrens Medicare due to its strong medium to long-term performance. The stock has maintained a higher top, higher bottom pattern, and a minor correction on the weekly charts suggests bullish sentiment. Daily charts show the stock consistently above key moving averages and a change in polarity pattern, underlining the ongoing uptrend. The RSI remains above 65 on all time frames, confirming positive momentum. The target is Rs 1,330, with a stop-loss at Rs 1,050.

These investment recommendations aim to provide investors with opportunities for short-term returns based on technical analysis and market conditions.