6 hrs ago
Nagaraj Shetti names IKS Health, PB Fintech for short-term gains
Indian stock markets went up on Wednesday, 22 September.
The Nifty 50 and Sensex both gained during the session.
Cheaper crude oil helped because India imports a lot of oil.
Worries about fighting in the Middle East kept the gains from becoming larger.
Analyst Nagaraj Shetti said the Nifty 50 could rise if it moves above 23,600.
He said a fall toward 23,250 could offer a buying opportunity.
He recommended IKS Health for a possible rise to ₹2,080.
He also recommended PB Fintech for a possible rise to ₹2,045.
Both recommendations are intended for a period of two to three weeks and include stop-loss levels.
Nifty 50 rose 0.5% to 23,446.80, while the Sensex gained 0.4% to 74,828.25 on Wednesday, 22 September.
Declining crude prices supported Indian equities, although Middle East conflict concerns limited market gains.
HDFC Securities analyst Nagaraj Shetti sees resistance near 23,600 and support around 23,250 for the Nifty 50.
Shetti recommended buying Inventurus Knowledge Solutions, or IKS Health, at ₹1,928, targeting ₹2,080 with a stop-loss at ₹1,845.
He recommended PB Fintech at ₹1,893, targeting ₹2,045 with a stop-loss at ₹1,815; both trades have a two-to-three-week timeframe.
- Who
- Indian benchmark indices and HDFC Securities senior technical research analyst Nagaraj Shetti.
- What
- The Nifty 50 and Sensex rose, while Shetti recommended IKS Health and PB Fintech for short-term trades.
- Where
- The Indian stock market.
- When
- Wednesday, 22 September; the recommended trade timeframe is two to three weeks.
- Why
- Lower crude oil prices supported the market, while Middle East conflict uncertainty limited gains; Shetti cited technical signals for his stock recommendations.
Key facts
- Nifty 50 close
- 23,446.80, up 0.5%
- BSE Sensex close
- 74,828.25, up 0.4%
- Nifty resistance
- 23,600
- Nifty support
- 23,250
- IKS Health trade
- Buy at ₹1,928; target ₹2,080; stop-loss ₹1,845
- PB Fintech trade
- Buy at ₹1,893; target ₹2,045; stop-loss ₹1,815
- Recommended timeframe
- Two to three weeks
Sources
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