Trading ideas: 6 stock recommendations for August 9, Monday
Stock recommendations: Chandan Taparia of Motilal Oswal is positive on Tata Power with a target price of Rs 143
The benchmark equity indices are likely to open in the green on Monday tracking weak global cues. Earlier, the benchmark indices snapped a four-day winning run and closed with tiny losses on Friday. The Nifty closed below the 16,250 level after trading above that range for the most part of the day. The Reserve Bank of India kept the repo rate unchanged at 4%. The barometer index, the S&P BSE Sensex, dropped 215.12 points or 0.39% to end at 54,227.72. The Nifty 50 index fell 56.4 points or 0.35% at 16,238.20. Broader markets outperformed the benchmark indices. The S&P BSE Midcap index rose 0.23% while the S&P BSE Smallcap index gained 0.28%. Here are 6 money making ideas from technical analysts that may deliver good gains in the near term.
Recommendations by: Milan Vaishnav, Gemstone Equity Research and Advisory
TCS | Buy | Stop loss: Rs 3220 | Target price: Rs 3450
State Bank of India | Buy | Stop loss: Rs 425 | Target price: Rs 460
Recommendations by: Mazhar Mohammad, Chartview India
Jindal Saw | Buy | Stop loss: Rs 130 | Target price: Rs 147
Thirumalai Chemicals | Buy | Stop loss: Rs 193 | Target price: Rs 217
Recommendations by: Chandan Taparia, Motilal Oswal Financial Services
Tata Power | Buy | Stop loss: Rs 131 | Target price: Rs 143
Happiest Minds Technologies | Buy | Stop loss: Rs 1380 | Target price: Rs 1500
JSW Energy | Buy | Stop loss: Rs 240 | Target price: Rs 265
(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.)
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