Stocks to buy: Sun Pharma, Mphasis, United Spirits and more

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 38 points at the opening bell. The Reserve Bank of India (RBI) monetary policy is awaited. The six-member Monetary Policy Committee (MPC) of the central bank will make the interest rate decision today after a three-day meeting that began on October 6. As per reports, the MPC is likely to keep rates unchanged.

The domestic equity indices settled with significant gains on Thursday. Positive global cues and robust quarterly business updates by domestic firms supported buying. The barometer index, the S&P BSE Sensex, surged 488.10 points or 0.82% to 59,677,83. The Nifty 50 index added 144.35 points or 0.82% to 17,790.35. Foreign portfolio investors (FPIs) sold shares worth Rs 1,764.25 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,528.64 crore in the Indian equity market on 7 October, provisional data showed.

Here are 4 money making ideas from technical analysts that may deliver solid returns in the near term.

Recommendations by: Nilesh Jain, Centrum Broking

Sun Pharma | Buy | Stop loss: Rs 802 | Target price: Rs 854

Mphasis | Buy | Stop loss: Rs 3,135 | Target price: Rs 3,320

Recommendations by: Chandan Taparia, Motilal Oswal Financial Services

Indian Energy Exchange | Buy | Stop loss: Rs 627 | Target price: Rs 666

United Spirits | Buy | Stop loss: Rs 880 | Target price: Rs 950

(Disclaimer: Stocks recommendations by experts or brokerages are their own and not those of the website or its management. Money9.com advises market participants to check with certified experts before taking any buy, sell or hold decisions.)