2 days ago
Expert Recommends Five Stocks as Market Risks Weigh
The Indian stock market has been moving within a narrow range because investors are worried about conflict involving the United States and Iran.
Higher oil prices and rising US bond yields are also making investors cautious.
An analyst from SAMCO Securities believes some stocks could be suitable for long-term investors.
The five stocks named are PB Fintech, Axis Bank, Paradeep Phosphates, Shipping Corporation of India, and Max Healthcare.
The analyst used price charts and momentum indicators to identify possible buying areas.
Each stock has a suggested price zone where investors could consider buying during a dip.
The analyst also identified higher price levels that the stocks could reach if their upward trends continue.
These are market views, not guarantees that the stocks will rise.
SAMCO Securities analyst Om Mehra recommends PB Fintech, Axis Bank, Paradeep Phosphates, Shipping Corporation of India, and Max Healthcare for long-term investors.
PB Fintech’s preferred buy-on-dip zone is ₹1,700–1,730, with a potential target of ₹2,100 if it sustains above ₹1,960.
Axis Bank is recommended near the ₹1,220–1,230 buy-on-dip zone, with potential upside toward ₹1,390–1,410 after a sustained move above ₹1,300.
Paradeep Phosphates, Shipping Corporation of India, and Max Healthcare have preferred entry zones of ₹143–151, ₹280–285, and ₹960–980, respectively.
The market remains rangebound amid US-Iran conflict concerns, higher oil prices, and rising US bond yields, although a resolution could support a rebound.
- Who
- Om Mehra, a technical research analyst at SAMCO Securities, recommended five stocks.
- What
- He recommended PB Fintech, Axis Bank, Paradeep Phosphates, Shipping Corporation of India, and Max Healthcare for potential long-term investment.
- Where
- The recommendations concern the domestic Indian stock market.
- When
- The recommendations cover a potential holding period of six to 12 months for the cited upside targets.
- Why
- The analyst sees technical strength or improving momentum in the five stocks, while broader market sentiment remains cautious because of macroeconomic risks.
Reasons for Caution
Case for Long-Term Buying
Market outlook
Reasons for Caution
The market is rangebound between 24,000 and 24,400 as investors remain concerned about the US-Iran conflict, higher oil prices, and rising US bond yields.
Case for Long-Term Buying
The analyst believes current conditions may offer long-term buying opportunities, particularly if the conflict is resolved and oil prices fall below $90 per barrel.
Stock momentum
Reasons for Caution
Some indicators, such as PB Fintech’s RSI above 70, suggest that a period of consolidation or cooling could occur before further gains.
Case for Long-Term Buying
The five stocks show technical features including breakouts, higher highs, support levels, improving RSI readings, and strong trading volume.
Potential rebound
Reasons for Caution
Rising macroeconomic risks are keeping market bulls on the sidelines despite earnings coming in ahead of expectations.
Case for Long-Term Buying
A healthy market rebound could occur if foreign investors continue selective buying and the broader geopolitical and oil-price concerns ease.
Key facts
- Analyst
- Om Mehra, technical research analyst at SAMCO Securities
- Recommended stocks
- PB Fintech, Axis Bank, Paradeep Phosphates, Shipping Corporation of India, and Max Healthcare
- PB Fintech levels
- Buy-on-dip zone: ₹1,700–1,730; key hurdle: ₹1,960; potential target: ₹2,100
- Axis Bank levels
- Buy-on-dip zone: ₹1,220–1,230; key hurdle: ₹1,300; potential target: ₹1,390–1,410
- Paradeep Phosphates levels
- Buy-on-dip zone: ₹143–151; key hurdle: ₹170; potential target: ₹190–210
- Shipping Corporation of India levels
- Buy-on-dip zone: ₹280–285; key hurdle: ₹320; potential target: ₹355–360
- Max Healthcare levels
- Buy-on-dip zone: ₹960–980; key hurdle: ₹1,060; potential target: ₹1,180–1,220
Quotes
Om Mehra
Technical research analyst at SAMCO Securities
“On the upside, ₹1,960 remains the key hurdle to watch, and a sustained close above this level should open room toward ₹2,100 and higher over the next 6 to 12 months. The ₹1,700–1,730 band remains the preferred buy-on-dip zone for investors looking to build medium- to long-term positions.”
livemint.com
“The ₹143 to ₹151 zone, aligned with the rising moving average, remains the preferred buy on dip zone for investors. On the upside, ₹170 is the immediate hurdle, and a sustained close above this level should open room toward the ₹190 to ₹210 zone.”
livemint.com
Sources
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