Trading ideas: Stock recommendations for October 7, Thursday

Indian markets slumped 1% on Wednesday, tracking negative cues from the global markets. Today, the markets are likely to recover from the previous session’s fall with a positive opening, tracking firm cues from global peers. Sentiments will get a boost as Moody’s Investors Service said it will upgrade India rating if there is an increase in growth potential and sustained decline in government debt. The US-based rating agency had on Tuesday raised India’s sovereign rating outlook to stable, from negative, while affirming the Baa3 rating – which is the lowest investment grade, just a notch above junk status. Though, weekly F&O expiry will likely keep the markets volatile. There may be some cautiousness as India recorded a spike of 22,617 new Covid-19 cases in the past 24 hours. The US markets ended higher on Wednesday as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default. Asian markets are trading in green on Thursday taking heart from a late recovery on Wall Street after US politicians appeared close to a temporary deal to avert a federal debt default and as Russia reassured Europe on gas supplies, calming volatile markets

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

Recommendations by: Rohit Singre, LKP Securities

Navin Fluorine International | Buy | Stop loss: Rs 3980 | Target price: Rs 4100/4150

Piramal Enterprises | Buy | Stop loss: Rs 2805 | Target price: Rs 2900/40

Recommendations by: Sneha Seth, Angel Broking

Ambuja Cement Oct PE 380 | Stop loss: Rs 3.75 | Target price: Rs 15.75

BEL OCT PE 195 | Stop loss: Rs 2.75 | Target price: Rs 12

(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.)