Experts Identify 6 Stocks for Short-Term Gains
Indian Stock Market Recap: Nifty 50 Posts Solid Gain
The Nifty 50, India's benchmark stock market index, ended Monday with a gain of 258 points, or 1.11%, at 23,408.80. This marks a rebound from a three-session losing streak, driven by buying in select heavyweights, including HDFC Bank, ICICI Bank, and Reliance Industries.
The gain was largely due to bargain hunting after the recent selloff, as market fundamentals have not changed significantly. Crude oil prices remain elevated due to the US-Iran war, and the FII selloff continues, with the rupee trading at a record low.
On the technical front, the Nifty 50 has reclaimed the 23,400 level, but experts fear a sell-on-rise as sentiment remains fragile. Experts recommend maintaining a cautious stance and focusing on stock-specific opportunities.
Short-term Stock Picks
Vishnu Kant Upadhyay of Master Capital Services and Aakash Shah of Choice Equity Broking recommend the following six stocks to buy for the next 1-2 weeks:
- Coal India
- Previous close: ₹460.30
- Target price: ₹508
- Stop loss: ₹432
- Thermax
- Previous close: ₹3,259.20
- Target price: ₹3,560
- Stop loss: ₹3,070
- MCX
- Previous close: ₹2,555.60
- Target price: ₹2,820
- Stop loss: ₹2,380
- Waaree Energies
- Previous close: ₹2,790.70
- Target price: ₹3,000
- Stop loss: ₹2,680
- Hitachi Energy India
- Previous close: ₹24,205
- Target price: ₹26,300
- Stop loss: ₹23,400
- Astral
- Previous close: ₹1,619.70
- Target price: ₹1,750
- Stop loss: ₹1,559
These stocks are expected to benefit from a constructive technical structure, strong institutional participation, and sustained momentum. However, experts caution that the market may see a sell-on-rise, and investors should maintain a cautious stance.
Investor Takeaway
Investors should focus on stock-specific opportunities for short-term gains.
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