Trading ideas: 6 stock recommendations for Wednesday
Here are 6 money making ideas from technical analysts that may deliver good gains in the near term.
The benchmark NSE Nifty index is likely to open in the red on Wednesday as indicated by Nifty futures traded on the Singapore Stock Exchange. Overseas, the US markets wiped out earlier gains and closed at their session lower on Tuesday as tech stocks reversed lower, while data showing housing starts dropped sharply last month also weighed on sentiment.
On the domestic front, equity benchmarks Sensex and Nifty on Tuesday settled above the levels not seen in over two months as economic recovery hopes amid a continuous decline in fresh Covid-19 cases further perked up investor sentiment. Recapturing the 50,000-level milestone, the BSE Sensex soared 612.60 points or 1.24% to settle at 50,193.33. This was the highest closing for the index since March 16.
Here are 6 money making ideas from technical analysts that may deliver good gains in the near term.
Recommendations by: Manish Shah, Nifty Triggers
HPCL | Buy | Target price: Rs 280-290 | Stop loss: Rs 250
TVS Motor | BUY| Target price: Rs 665-680| Stop loss: 625
ICICI Bank | Buy | Target price: Rs 650-665| Stop loss: Rs 615
Recommendations by: Devang Shah, Angel Broking
Power Grid | Buy | Target price: Rs 245 | Stop loss: Rs 223
Berger Paints | Buy | Target price: Rs 815 | Stop loss: Rs 756
Ashok Leyland | Buy | Target price: Rs 130 | Stop loss: Rs 117.50
(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)