2 weeks ago
Stocks to buy: Kotak's Amol Athawale recommends three shares
The stock market is a place where people can buy small pieces of big companies, called shares.
On Wednesday, prices in India's main stock markets fell for the second day in a row.
People were worried because of a possible deal between the United States and Iran, and about an important shipping route called the Strait of Hormuz.
Higher oil prices and waiting for new inflation numbers also made investors nervous.
A market expert named Amol Athawale, who works at Kotak Securities, said the market is being supported at a level called 24,300.
He told investors that if the market stays above that level, prices could move higher.
He suggested three stocks to buy for the next one to two weeks: Bank of Baroda, CDSL, and Prestige Estates.
For each one, he gave a target price, which is where he thinks the price might rise to.
He also gave a stop loss, which is the price at which investors should sell to avoid bigger losses.
These are expert recommendations based on charts, but they do not guarantee that prices will go up.
Sensex and Nifty 50 extended losses for a second consecutive session on Wednesday, 13 August, before paring nearly 1% intraday declines to end with small losses.
Uncertainty over a potential US-Iran deal and reopening of the Strait of Hormuz, elevated oil prices, and caution ahead of US and India CPI prints weighed on market sentiment.
Kotak Securities' Amol Athawale sees the 20-day SMA at 24,300 as key Nifty support, with a possible rebound toward 24,500-24,600 above it.
Bank of Baroda is recommended with a target of ₹267 and a stop loss of ₹242, from a previous close of ₹251.
CDSL (target ₹1,440, stop loss ₹1,295) and Prestige Estates Projects (target ₹1,700, stop loss ₹1,530) are the other two short-term picks.
- Who
- Amol Athawale, VP - Technical Research at Kotak Securities, who made the short-term stock recommendations.
- What
- Market benchmarks Sensex and Nifty 50 extended losses for a second session while the analyst recommended buying Bank of Baroda, CDSL, and Prestige Estates Projects.
- Where
- Indian equity markets (Sensex and Nifty 50).
- When
- Wednesday, 13 August.
- Why
- Uncertainty over a potential US-Iran deal and reopening of the Strait of Hormuz, elevated oil prices, and caution ahead of US and India CPI data weighed on sentiment.
Key facts
- Market benchmarks
- Sensex and Nifty 50 extended losses for second consecutive session
- Market date
- Wednesday, 13 August
- Nifty key support
- 24,300 (20-day SMA)
- Nifty upside levels
- 24,500-24,600 if support holds; 24,150-24,100 below 24,300
- Bank of Baroda (BoB)
- Previous close ₹251 | Target ₹267 | Stop loss ₹242
- Central Depository Services (CDSL)
- Previous close ₹1,339 | Target ₹1,440 | Stop loss ₹1,295
- Prestige Estates Projects
- Previous close ₹1,590.70 | Target ₹1,700 | Stop loss ₹1,530
- Recommendation horizon
- Next 1-2 weeks
- Analyst
- Amol Athawale, VP - Technical Research, Kotak Securities
Quotes
Amol Athawale
VP – Technical Research, Kotak Securities
“For positional traders, ₹242 is a crucial level to watch. Sustaining above this mark could drive the stock toward ₹267. However, a close below ₹242 would weaken the structure, and traders may consider exiting long positions to manage downside risk effectively.”
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