Experts Recommend Six Stocks for Near-Term Investment

Indian Equity Benchmark Nifty 50 Extends Gains for Third Consecutive Session

The Indian equity benchmark Nifty 50 extended its gains for the third consecutive session on Monday, April 6, rising by over 1% and reclaiming the 22,968 mark. This marks a significant milestone for the index, which has seen a rise of almost 3% over the last three sessions. Despite the improved sentiment, market experts warn that volatility may persist due to the ongoing Brent crude price of over $110 per barrel and the uncertain outcome of the US-Iran war.

Market Experts Recommend Cautious Investing

Market experts suggest that investors should maintain prudence while picking stocks. In light of this, Vishnu Kant Upadhyay, AVP- Research at Master Capital Services Limited, and Aakash Shah, Research Analyst at Choice Broking, have identified six stocks that are expected to perform well for the short term.

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Stock Picks for the Short Term

Axis Bank

• Previous close: ₹1,245.30
• Target prices: ₹1,343 and ₹1,365
• Stop loss: ₹1,165

Axis Bank shares are showing signs of a bullish reversal after finding support near a rising trendline, indicating demand at lower levels. The stock has formed a well-defined double bottom pattern, supported by positive RSI divergence, highlighting weakening downside momentum.

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FSN E-Commerce Ventures (Nykaa)

• Previous close: ₹252.52
• Target prices: ₹275 and ₹282
• Stop loss: ₹232

Nykaa shares continue to exhibit a strong bullish structure on the broader chart, consistently forming higher highs and higher lows, indicating sustained uptrend strength.

CCL Products (India)

• Previous close: ₹1,116.90
• Target prices: ₹1,210 and ₹1,240
• Stop loss: ₹1,024

CCL Products shares maintain a strong bullish structure, sustaining above its recent all-time high breakout zone, indicating firm price acceptance at higher levels.

Coal India

• Previous close: ₹459.55
• Target price: ₹500
• Stop loss: ₹435

Coal India share price is displaying strong technical strength on the weekly chart, having recently broken out of a descending triangle pattern—a classic bullish signal.

Wipro

• Previous close: ₹197.29
• Target price: ₹220
• Stop loss: ₹185

Wipro appears to be attempting a reversal after a prolonged downtrend, currently hovering near ₹197. A piercing line pattern has formed on the weekly chart, which is typically seen at the end of bearish phases and signals a potential bullish reversal.

Trent

• Previous close: ₹3,833.60
• Target price: ₹4,100
• Stop loss: ₹3,636

Trent shares are showing early signs of stabilisation after a sustained downtrend, currently trading around the ₹3,800 zone. The RSI is near 43 and has given a bullish crossover, indicating improving momentum from oversold conditions.