3 weeks ago
Mphasis, Asian Paints Among Six Stocks Experts Recommend Buying Today
On Tuesday morning, the Indian stock market was a little bit down.
The two big market trackers, the Sensex and the Nifty 50, fell by up to half a per cent.
People were worried because they were not sure if the US and Iran would make a peace deal.
They also wondered if a busy shipping waterway called the Strait of Hormuz would reopen.
Two stock market experts named six companies whose shares they think will go up.
The companies make paint, medicine equipment, technology parts, and more.
The experts told grown-up traders what price to buy at, what price the shares might reach, and what price to use as a safety stop.
They looked at charts and numbers to make their choices, which is called technical analysis.
This kind of news is for adults who trade carefully, not a promise that prices will go up.
Sensex and Nifty 50 declined by up to half a per cent in morning trade on Tuesday, 11 August.
The decline came amid uncertainty over a US-Iran peace deal and the reopening of the Strait of Hormuz.
Nifty 50 has been consolidating for six consecutive sessions, oscillating in the 24,500-24,700 range.
Analysts Vishnu Kant Upadhyay and Hitesh Tailor recommended six stocks to buy for the next 1-2 weeks.
The picks are Mphasis, Poly Medicure, Syrma SGS Technology, Asian Paints, Healthcare Global Enterprises (HCG) and Gujarat Mineral Development Corporation (GMDC), each with target prices and stop losses.
- Who
- Expert analysts Vishnu Kant Upadhyay of Master Capital Services and Hitesh Tailor of Choice Broking issued stock recommendations for traders.
- What
- Six stocks were recommended for buying over the next 1-2 weeks while frontline indices Sensex and Nifty 50 declined in morning trade.
- Where
- Indian stock market, tracked by the Sensex and Nifty 50 indices.
- When
- Tuesday, 11 August, during morning trade.
- Why
- Markets were uncertain over a US-Iran peace deal and the reopening of the Strait of Hormuz, while experts cited bullish technical setups in the six recommended stocks.
Key facts
- Market decline
- Sensex and Nifty 50 fell up to half a per cent in morning trade
- Nifty consolidation range
- 24,500-24,700 over six consecutive sessions
- Key support zone
- 24,400-24,500
- Key resistance zone
- 24,650-24,700
- Recommended stocks
- Mphasis, Poly Medicure, Syrma SGS Technology, Asian Paints, Healthcare Global Enterprises (HCG), Gujarat Mineral Development Corporation (GMDC)
- Recommendation horizon
- Next 1-2 weeks
- Recommending experts
- Vishnu Kant Upadhyay (Master Capital Services), Hitesh Tailor (Choice Broking)
- Market context
- Uncertainty over US-Iran peace deal and Strait of Hormuz reopening
Quotes
Vishnu Kant Upadhyay
AVP-Research at Master Capital Services
“"RSI at 60 remains supportive and indicates further room for momentum expansion. Overall, the technical setup remains positive, favouring continued upside in the near term."”
livemint.com
“"Based on this continuous bullish chart setup, traders can look for further upside. Maintain a stop loss at ₹2,600 for an upside target of ₹3,000."”
livemint.com
Sources
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