16 hrs ago
Kotak Securities Expert Picks Three Stocks for Short-Term Gains
The Indian stock market fell after the Reserve Bank of India raised interest rates.
A Kotak Securities analyst said the market could remain weak unless it rises above an important level.
He also suggested three shares that he thinks could rise over the next one or two weeks.
Those shares are IndiGo, Union Bank of India and Sona BLW Precision Forgings.
He gave a possible target price for each share.
He also gave a lower price where traders might consider leaving their trades if the shares fall.
These are the analyst’s views, not guaranteed outcomes.
Amol Athawale of Kotak Securities recommended three stocks for a one-to-two-week trading horizon.
His picks were InterGlobe Aviation, Union Bank of India and Sona BLW Precision Forgings.
The suggested targets were ₹5,340, ₹185 and ₹880, respectively.
The recommended stop-loss levels were ₹4,810, ₹167 and ₹782, respectively.
The Nifty fell 0.76% to 22,603 after the RBI raised its repo rate by 25 basis points.
- Who
- Amol Athawale, VP of Technical Research at Kotak Securities, made the stock recommendations.
- What
- He recommended InterGlobe Aviation, Union Bank of India and Sona BLW Precision Forgings for short-term trading.
- Where
- The recommendations concern stocks in the Indian stock market.
- When
- The recommendations were for the next one to two weeks; the market decline was reported on Wednesday.
- Why
- Athawale cited technical chart patterns and support levels that he viewed as signaling possible further gains.
Cautious market outlook
Bullish individual stock setups
Broader market direction
Cautious market outlook
Athawale said sentiment was likely to stay weak below 22,700, with the Nifty potentially retesting 22,450–22,400.
Bullish individual stock setups
He said a sustained move above 22,700 could extend a pullback toward 22,800–22,850.
Short-term stock prospects
Cautious market outlook
Each recommendation included a stop-loss level, below which the analyst’s bullish setup could weaken; for IndiGo, he advised traders to consider exiting long positions on a close below ₹4,810.
Bullish individual stock setups
Athawale described chart patterns in all three stocks as supporting possible further gains toward their stated target prices.
Key facts
- Nifty close
- 22,603, down 0.76% on Wednesday
- Repo rate move
- The RBI raised the repo rate by 25 basis points and signalled further hikes might be possible.
- Market resistance
- Athawale identified 22,700 as a crucial resistance level.
- InterGlobe Aviation
- Previous close ₹4,990; target ₹5,340; stop loss ₹4,810.
- Union Bank of India
- Previous close ₹173.15; target ₹185; stop loss ₹167.
- Sona BLW Precision Forgings
- Previous close ₹810.50; target ₹880; stop loss ₹782.
- Recommendation horizon
- The three stock picks were suggested for the next one to two weeks.
Quotes
Amol Athawale
Vice-president of technical research at Kotak Securities.
“As long as the market trades below this level, sentiment is likely to stay weak. On the downside, it may retest the 22,450–22,400 range. Conversely, a sustained move above 22,700 could extend the pullback toward 22,800–22,850.”
livemint.com
“For the next few trading session ₹782 could be the trend decider level for the bulls, if it sustains above the same we can expect further uptrend towards ₹880.”
livemint.com
Sources
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