Trading ideas: Stock recommendations for July 22

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the benchmark NSE Nifty index could jump 148 points at the opening bell. Overseas, Asian stocks traded higher on Thursday after solid earnings boosted Wall Street, easing concerns about peak economic growth and coronavirus flareups. Markets in Japan are closed on Thursday for a holiday.

Earlier, domestic equity indices tumbled on Tuesday, tracking weak cues from other Asian stock markets. The Nifty managed to close above the 15,600 mark after hitting the day’s low of 15,578.55 in early afternoon trade. Barring the Nifty FMCG index, all the sectoral indices on the NSE ended in the red. Asian stocks fell across the board amid mounting concerns about the rapidly surging delta variant of the Covid-19 in several countries. The barometer index, the S&P BSE Sensex, dropped 354.89 points or 0.68% at 52,198.51. The Nifty 50 index slipped 120.30 points or 0.76% at 15,632.10.

ICICI Bank (down 2.14%), HDFC Bank (down 1.9%) and HDFC (down 0.96%) were major drags. Selling was broad-based. The BSE Midcap index fell 1.28% and the BSE Smallcap index lost 1.44%. Overall, the market breadth was weak. On the BSE, 1137 shares rose and 2098 shares fell. A total of 108 shares were unchanged. The domestic equity market was closed on Wednesday, 21 July 2021, on account of Bakri Id.

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

Recommendations by: Rohit Singre of LKP Securities

Gujarat Fluorochemicals | Buy | Stop loss: Rs 1,450 | Target price: Rs 1,620-1,700

Grasim | Buy | Stop loss: Rs 1565 | Target price: Rs 1,615-1,640

Recommendations by: Manas Jaiswal of Manas Jaiswal Technical Research Group

Berger Paints | Buy | Stop loss: Rs 839 | Target price: Rs 910

Pidilite | Buy | Stop loss: Rs 2,264 | Target price: Rs 2,425

(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.)