Archive · 5 Oct 2026
Jigar Patel Names Three Stocks for Short-Term Buying
Jigar S. Patel shared three stocks that he thinks traders could consider buying for a short time.
He gave a suggested buying range, a possible target price and a stop-loss for each one.
A stop-loss is a price level meant to limit losses if a trade moves the wrong way.
Patel said Omnitech Engineering had broken above a price level after trading in a narrow range.
He said IT BEES and Laxmi Organic Industries also showed signs that selling pressure may be easing.
He described the overall market as very weak and possibly oversold.
He said the Nifty index's important support level was 22,200.
These are Patel's technical views, not guaranteed outcomes.
Jigar S. Patel recommended Omnitech Engineering, IT BEES and Laxmi Organic Industries for short-term trades.
For Omnitech Engineering, Patel suggested buying at ₹590–₹610, with a ₹700 target and ₹550 stop-loss.
For IT BEES, he suggested buying at ₹29.50–₹31.50, with a ₹39.13 target and ₹27 stop-loss.
For Laxmi Organic Industries, he suggested buying at ₹178–₹182, with a ₹201 target and ₹170 stop-loss.
Patel described the market as deeply oversold, identifying 22,200 as a key Nifty support level and 22,800–23,200 as resistance.
- Who
- Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers.
- What
- Patel named Omnitech Engineering, IT BEES and Laxmi Organic Industries as short-term stock ideas and provided suggested entry ranges, targets and stop-losses.
- When
- The article discusses market conditions for the week ended 1 October; no publication date is stated.
- Where
- The Indian stock market.
- Why
- Patel cited technical signals including breakouts, bullish divergences and support levels, while describing the broader market as deeply oversold.
- Omnitech Engineering
- Suggested buy range ₹590–₹610; target ₹700; stop-loss ₹550.
- IT BEES
- Suggested buy range ₹29.50–₹31.50; target ₹39.13; stop-loss ₹27 on a closing basis.
- Laxmi Organic Industries
- Suggested buy range ₹178–₹182; target ₹201; stop-loss ₹170 on a closing basis.
- Nifty support
- Patel identified 22,200 as a key support level, with 21,900 as the next important support.
- Nifty resistance
- The immediate resistance zone was given as 22,800–23,200.
- Market streak
- The Indian market had remained in negative territory for eight consecutive weeks through the week ended 1 October, its longest such streak in 25 years, according to the article.
- Bank Nifty levels
- Patel said a break below 54,000 could lead towards 53,000, while 55,500 was a key hurdle.