Short-Term Stock Recommendations
The Indian stock market has recently adopted a pattern of “selling on rise” and “buying on dips,” reflecting uncertainty among investors due to mixed economic signals.
Following two consecutive days of gains, the Nifty 50 experienced a decline of over one percent on May 27, attributed to profit-taking amid lackluster global cues and a dearth of new incentives.
Nonetheless, the medium- to long-term outlook for the Indian market appears robust, buoyed by expectations of steady economic growth, an above-average monsoon, an influx of retail investors, and declining inflation rates.
Investment Insights
Market analysts advise investors to concentrate on stocks exhibiting solid fundamentals and favorable technical indicators at this time.
Experts Vishnu Kant Upadhyay from Master Capital Services and Mandar Bhojane from Choice Broking have identified a selection of stocks to consider over the next two to three weeks.
Recommendations from Vishnu Kant Upadhyay
ITC
Previous close: ₹442.90
Target prices: ₹470 and ₹480
Stop loss: ₹422
ITC has indicated a bullish reversal by surpassing a critical downtrend resistance. The stock has also breached its 34-day and 200-day moving averages, reflecting positive price movement.
Chennai Petroleum Corporation
Previous close: ₹686.85
Target prices: ₹765 and ₹780
Stop loss: ₹634
The stock is demonstrating a bullish structure with a clear inverse head and shoulders pattern, indicating a potential turn from a bearish trend to a bullish one.
Mandar Bhojane’s Stock Picks
Housing & Urban Development Corporation (HUDCO)
Previous close: ₹238.26
Target prices: ₹270 and ₹280
Stop loss: ₹224
HUDCO is on the verge of a breakout from an inverted head-and-shoulders pattern, supported by increased trading volume which signals bullish momentum.
Hindustan Construction Company (HCC)
Previous close: ₹31.11
Target prices: ₹35.50 and ₹36
Stop loss: ₹29
HCC’s stock has recently shown signs of breaking out of its range, supported by rising volume and suggesting further upward potential.
Disclaimer: This information is intended for educational purposes only. The recommendations are based on individual analysts’ opinions and market conditions may change. Investors should consult certified experts before making any decisions.
