Trading ideas: 6 stocks that can give stellar returns in the short term
Nirav Chheda of Nirmal Bang Securitis is positive on Reliance Industries with a target price of Rs 2,250.
Domestic equity markets are likely to open higher on Wednesday tracking positive global cues. Positive comments by the World Health Organisation (WHO) chief scientist on the Covid-19 situation in India may result in a relief rally on the bourses. He said coronavirus in India may be entering some kind of stage of endemicity where there is a low or moderate level of transmission going on. Market participants are likely to continue to take support with SBI research report Ecowrap stating that the country’s gross domestic product (GDP) is expected to grow at around 18.5% with an upward bias in the first quarter of the current financial year. Higher growth in the second quarter of 2022, or Q1 FY22 is mainly on account of a low base. Indian markets ended higher on Tuesday led by strong gains in metals and banking stocks amid positive global cues. Here are 6 money making ideas from technical analysts that may deliver decent returns in the near term.
Recommendations by: Milan Vaishnav, Gemstone Equity Research and Advisory
Oil India | Buy | Stop loss: Rs 165 | Target price: Rs 180
Ashoke Leyland | Buy | Stop loss: Rs 115.50 | Target price: Rs 128
Info Edge | Stop loss: Rs 5680 | Target price: Rs 6080
Recommendations by: Nirav Chheda, Nirmal Bang Securities
Axis Bank | Buy | Stop loss: Rs 720 | Target price: Rs 800
Bharti Airtel | Buy | Stop loss: Rs 605 | Target price: Rs 680
Reliance Industries | Buy | Stop loss: Rs 2150 | Target price: Rs 2,250
(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.)