Trading ideas: two stock recommendations for Wednesday
Proficient Equities is bullish on PowerGrid with a price target of Rs 213 per share.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could jump 84 points at the opening bell. On the macro front, India’s economy continued to expand in the July-September quarter, marking the fourth consecutive quarter of growth. India’s GDP grew 8.4% on-year basis against a contraction of 7.4% during the same period last year. The combined output of eight core industries has surged 7.5% in October as compared to the same period last year, showed the official data released on November 30. Here are two money-making ideas from technical analysts that may deliver solid returns in the near term.
Recommendations by: Ravi Singhal, GCL Securities
Indusind Bank | Sell | Stop loss: Rs 890 | Price target: Rs 850
Recommendations by: Manoj Dalmia, Proficient Equities
PowerGrid | Buy | Stop loss: Rs 199 | Price target: Rs 213
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