Trading ideas: 6 stock recommendations for September 20, Monday

Indian equity benchmarks ended lower on Friday on profit booking. Today, the start is likely to be weak tailing the sluggishness in the global indices. Traders will be cautious as the country’s foreign exchange reserves declined by $1.34 billion to $641.113 billion in the week ended September 10, 2021, according to RBI data. During the reporting week ended September 10, the fall in the reserves was on account of a decline in Foreign Currency Assets (FCAs), a major component of the overall reserves. Traders may take note of report that President Ram Nath Kovind said the Covid pandemic hit the country’s economy hard and the government has taken various fiscal measures to alleviate distress and help the poor. However, some respite may come later in the day as Commerce and Industry Minister Piyush Goyal said simplification, facilitation and ease of doing business has helped India create more startups. He said for promoting startups, the government is creating future global leaders and wants to become the innovation hub of the world. Here are 6 money making ideas from technical analysts that may deliver good gains in the near term.

Recommendations by: Ajit Mishra, Religare Broking

ITC | Buy | Stop loss: Rs 222 | Target price: Rs 242

Axis Bank | Buy | Stop loss: Rs 780 | Target price: Rs 840

SAIL | Sell | Stop loss: Rs 125 | Target price: Rs 102

Recommendations by: Mazhar Mohammad, Chartview India

DB Corp | Buy | Target price: Rs 112 | Stop loss: Rs 92

Time Technoplast | Buy | Stop loss: Rs 71 | Target price: Rs 79

Advanced Enzymes | Buy | Stop loss: Rs 389 | Target price: Rs 422

(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.)