Nifty likely to head towards 10,270; top 5 stocks to buy in short term

Nifty has formed Bullish candle after two days of consolidation around 200 SMA. It opened with gap-up and continued to move higher to close at 10211.80 up 0.97 percent. It has crossed last week high and heading towards 10250-10270 levels i.e. Upper Band of Falling Channel which might work as immediate resistance. Sustenance trade above these levels may add further momentum on upside.

Furthermore, Oscillators like RSI & MACD has given positive crossover which is a bullish setup.

Bank Nifty

Nifty Bank rebounded from day's low of 24062 and closed higher at 24328.50 up 0.27 per cent. It failed to surpass 'Upper Band' of Falling Channel. Decisive trade above 24500 levels might take Index further higher till 24900 mark i.e. 200 SMA. Now if Index sustains below 24500 levels, then fresh selling can be seen till 23900 and then 23600 levels. Furthermore, Momentum Oscillators like RSI & MACD has given positive crossover which is a bullish setup.

Here are the top 5 stocks to buy today which acn give up to 4% return in the short term:

Lupin Limited | Rating: Buy | Target: Rs 798, stop loss: Rs 759 | Return: 2%

BEML Limited | Rating: Buy | Target: Rs 1109, stop loss: Rs 1060 | Return: 2%

Kaveri Seed Company Limited | Rating: Buy | Target: Rs 505, stop loss: Rs 487 | Return: 2%

Amara Raja Batteries | Rating: Buy | Target: Rs 829, stop loss: Rs 795 | Return: 2%

Multi Commodity Exchange of India | Rating: Buy | Target: Rs 728, stop loss: Rs 680 | Return: 4%

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