Stocks to Buy Today: ET NOW Swadesh panelists and market experts share their views on several stocks that have the potential to deliver strong profits…
highlights
- ET NOW Swadesh’s market experts have advised buying several stocks for the short-term.
- Top picks also include IDBI Bank, ITC, Garden Reach, Bharat Dynamics, Muthoot Finance and more.
- Experts have also given their view and target price on these shares.
According to Ajit Mishra of Religare Broking, Nifty is close to its first support level, 20-day DEMA, after the recent fall. The index is likely to take close support in the 26,000–26,100 zone, while a strong base remains around 25,800. He said continued profit booking in select heavyweight stocks could further limit any immediate recovery. Experts have advised investors in this volatile market to pay attention to stock-wise opportunities and use this decline to gradually accumulate good quality stocks in better performing sectors.
In which shares will investors earn?
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IDBI Bank Share Price Target
Vatsal Bhuva of LKP Securities said that the chart of IDBI Bank looks strong. The stock has given a breakout after a prolonged consolidation phase. This breakout suggests the possibility of further upside in the near future. Rs 107-108 levels are good to initiate fresh long positions in IDBI Bank for a target of Rs 122. He said to maintain the stop loss at Rs 102.
Garden Reach Shipbuilders share price target
Shrikant Chauhan of Kotak Securities has recommended Garden Reach Shipbuilders and Engineers (GRSE) for short term. He said that before the budget, the defense sector is in focus and there is a tremendous rise in the stocks of this sector. GRSE is showing positive price action. The advice for investors is to buy GRSE stock for a target of Rs 2,750, keeping the stop loss at Rs 2,390.
Bharat Dynamics Share Price Target
Nilesh Jain, Head of Technical and Derivatives Research, Centrum Broking has advised Bharat Dynamics for short term. He said the stock has given a big falling trendline breakout, indicating a change from a downtrend to an uptrend. BDL shares may go up to Rs 1,580 and Rs 1,620 in the short term. Maintain stop loss at Rs 1,510.
Muthoot Finance Share Price Target
Harish Jujare, AVP and Head of Technical Equity Research, Prithvi Finmart, said Muthoot Finance has given a fresh breakout from consolidation. According to him, the current momentum may take the stock higher in the near future. Jujare said the target price on Muthoot Finance is Rs 4,100 and Rs 4,150, with stop loss at Rs 3,820.
Havells India Share Price Target
Market analyst Nimesh Thakkar has advised Havells India for short term. He said that after the correction, signs of possible reversal are visible in Havells India. Experts said that buying interest in the stock has increased again in the last two trading sessions. He also said that there is a lot of movement in the consumer durables sector in Monday’s trade and Havells India could be a good short-term buy with a target price of Rs 1,485. Maintain stop loss at Rs 1,440.
jk cement share price target
According to Nimesh Thakkar, JK Cement has been in the consolidation phase for a long time and now it has given an upward consolidation breakout. The technical setup suggests that a strong uptrend is likely in the near future. He said that the advice on JK Cement is to buy for the target of Rs 6,025, keeping the stop loss at Rs 5,700.
Eicher Motors Share Price Target
Vatsal Bhuva recommends Eicher Motors for short term. He said that the stock has come out of its consolidation phase and is forming higher high and higher low patterns which is a positive sign. Buy Eicher Motors with a target of Rs 7,800 and stop loss at Rs 7,300.
ITC share price target
Nimesh Thakkar said the recent fall in ITC shares should be seen as a buying opportunity. He said that now the downside risk in ITC seems limited and the stock is showing signs of stabilization after correction. ITC is a good stock to buy around Rs 350 for medium to long term.
Expert has given stop loss of Rs 325. He said that ITC stock may move towards Rs 420 and then Rs 450.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice in any way. ET NOW Swadesh recommends its readers and viewers to consult their financial advisors before taking any money-related decisions.
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