2 hrs ago
Experts name six short-term stock picks amid volatile markets
Indian stock markets became weaker after an early rise.
Investors were worried about higher oil prices and a possible US Federal Reserve rate hike.
The US-Iran conflict also raised concerns about inflation, the dollar and bond yields.
Two market experts suggested six shares for traders considering a one- to two-week holding period.
One expert selected Varun Beverages, Power Grid Corporation of India and One 97 Communications.
The other selected Newgen Software Technologies, IDBI Bank and Info Edge.
Their recommendations were based on chart patterns and signals such as support levels and moving averages.
Each recommendation included a possible target price and a price at which traders could limit losses.
Sensex and Nifty 50 gains faded as rising oil prices and expected US Federal Reserve action pressured Indian markets.
Vishnu Kant Upadhyay recommended Varun Beverages, Power Grid Corporation of India and One 97 Communications for one- to two-week trades.
Sachin Gupta recommended Newgen Software Technologies, IDBI Bank and Info Edge for short-term purchases.
The recommendations rely on technical signals including support levels, moving averages, RSI readings, trend reversals and accumulation.
The article lists Varun Beverages targets of ₹455 and ₹465, while Upadhyay’s quoted view mentions ₹445 and ₹460.
- Who
- Vishnu Kant Upadhyay of Master Capital Services and Sachin Gupta of Choice Equity Broking recommended six stocks.
- What
- They identified six shares for possible short-term buying over the next one to two weeks.
- Where
- The recommendations concern stocks traded in the Indian market; the article discusses the Sensex and Nifty 50.
- When
- The market commentary was published around Tuesday’s trading session, ahead of the US Federal Reserve’s Wednesday policy decision.
- Why
- The experts cited technical indicators suggesting potential recoveries, while broader markets faced pressure from oil prices, rate-hike expectations and inflation concerns.
Key facts
- Market backdrop
- The Sensex fell nearly 200 points, and the Nifty 50 reached an intraday low of 23,317 during Tuesday’s morning session.
- Varun Beverages
- Previous close ₹416.25; listed targets ₹455 and ₹465; stop loss ₹380.
- Power Grid Corporation of India
- Previous close ₹269.10; targets ₹292 and ₹298; stop loss ₹249.
- One 97 Communications
- Previous close ₹1,806.25; targets ₹1,960 and ₹1,990; stop loss ₹1,670.
- Newgen Software Technologies
- Previous close ₹501; target ₹565; stop loss ₹500; suggested entry ₹519.
- IDBI Bank
- Previous close ₹83.44; target ₹94; stop loss ₹83; suggested entry ₹86.
- Info Edge
- Previous close ₹1,250.90; target ₹1,400; stop loss ₹1,244; suggested entry ₹1,296.
Quotes
Vishnu Kant Upadhyay
AVP-Research at Master Capital Services
“From a trading perspective, Newgen may be considered for buying in cash at ₹519, with a stop loss at ₹500 and a target of ₹565. Sustained holding above the lower trendline support and continued accumulation could support further upside towards the stated target”
livemint.com
“A sustained hold above the ₹390 zone could trigger a recovery towards the stock’s short-term moving averages. Considering the potential base formation at the current juncture, prices are looking to pave the way for ₹445 and then ₹460”
livemint.com
Sources
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