3 weeks ago
Siemens, Aurobindo, Shriram Finance picks amid Nifty dip
On Wednesday, the stock market in India went down a little bit.
The Nifty 50 index fell to 24,369.40 and the Sensex dropped to 77,814.24.
One reason was that oil prices are high, around $90 a barrel, which worries investors.
People were also waiting for new inflation reports from India and the United States.
Inflation reports show how much prices of things are going up, and they can change how people feel about the market.
An expert named Jay Thakkar from ICICI Securities shared his ideas on stocks.
He thinks three companies look good to buy right now.
Those companies are Siemens, Aurobindo Pharma, and Shriram Finance.
He gave specific prices to buy them and safety prices called stop losses.
The best way to buy these stocks is a little at a time when prices dip.
This kind of advice is for short-term traders who buy and sell quickly.
Indian equities traded lower on Wednesday, with the Nifty 50 falling 0.42% to 24,369.40 and the BSE Sensex declining 0.44% to 77,814.24.
Elevated crude oil prices near $90 a barrel and caution ahead of India and US inflation data weighed on market sentiment.
Jay Thakkar of ICICI Securities recommended buying Siemens, Aurobindo Pharma, and Shriram Finance futures in the F&O segment.
Siemens Futures buy range is ₹4,030-4,070 with targets at ₹4,220 and ₹4,300, and a stop loss below ₹3,890.
Aurobindo Pharma Futures buy range is ₹1,650-1,660 with targets of ₹1,740-1,780 and a stop loss below ₹1,600; Shriram Finance Futures buy range is ₹1,110-1,125 with targets of ₹1,160-1,190 and a stop loss below ₹1,090.
- Who
- Jay Thakkar, Vice President & Head of Derivatives and Quant Research at ICICI Securities, recommended stocks; Indian equities traders were the audience.
- What
- Indian equities declined while an ICICI Securities analyst recommended buying Siemens, Aurobindo Pharma, and Shriram Finance futures for the short term.
- Where
- Indian stock markets, specifically the National Stock Exchange (Nifty 50) and BSE (Sensex).
- When
- Wednesday morning deals, as of 10:46 IST, ahead of India and US inflation data releases.
- Why
- Elevated crude oil prices and caution ahead of key inflation data from India and the US weighed on sentiment, while the analyst saw long built-up and support levels in the recommended stocks.
Key facts
- Nifty 50 level
- 24,369.40 (down 0.42%)
- BSE Sensex level
- 77,814.24 (down 0.44%)
- Crude oil price
- Around $90 a barrel
- Siemens Futures
- Buy ₹4,030-4,070; stop loss below ₹3,890; targets ₹4,220 and ₹4,300
- Aurobindo Pharma Futures
- Buy ₹1,650-1,660; stop loss below ₹1,600; targets ₹1,740-1,780
- Shriram Finance Futures
- Buy ₹1,110-1,125; stop loss below ₹1,090; targets ₹1,160-1,190
- Analyst
- Jay Thakkar, ICICI Securities (VP & Head of Derivatives and Quant Research)
Quotes
Jay Thakkar
Vice President and Head of Derivatives and Quant Research at ICICI Securities
“Buy Siemens Futures in the range of ₹ 4,030-4,070; stop loss below at ₹ 3,890; Targets at ₹ 4,220 and ₹ 4,300”
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