Day Trading Guide: MandM among 4 stock recommendations for Monday - Stock Ideas - Economic Times
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1/5
Stock Ideas
Agencies
2/5
Bajaj Finserv | Buy
The stock offers buying opportunities for positional traders with a decent risk-reward ratio. The trend reversal move is likely to continue up to Rs 12,400. (Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities)
Agencies
3/5
Shriram Transport Finance | Buy
Agencies
4/5
Ashok Leyland | Buy
Unless it is trading below Rs 135, positional traders can retain an optimistic stance and look for a target of Rs 150 with a stop loss placed below Rs 135.
(Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities)
Agencies
5/5
M&M | Buy
Stop Loss: Rs 900
(Mehul Kothari, Anand Rathi Shares & Stock Brokers) (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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June 26, 2022 at 07:06PM
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Day Trading Guide: MandM among 4 stock recommendations for Monday - Stock Ideas - Economic Times
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The Nifty recovered almost 2.5 per cent last week in line with global indices after witnessing a sharp sell-off in the penultimate week. However, broader markets have relatively underperformed as they failed to witness major recovery amid unabated FIIs sell-off. "A short covering move is expected only if the Nifty sustains above 15,700 levels," ICICI Securities said.
Ruchit Jain, Lead Research, 5paisa.com, said while the rally seems to be a pullback within a downtrend, how much the index retraces will depend on the global markets movement and hence, traders should keep a tab on the same.
Here are the top four stock recommendations which analysts suggest:
Target: Rs 12,400
Stop loss: Rs 11,150
Target: Rs 1,340
Stop loss: Rs 1,200
For breakout traders Rs 1200 would be the trend decider level, above which the stock could rally up to Rs 1,340. (Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities)
Target: Rs 150
Stop loss: Rs 135
Buy between Rs 1,060 - Rs 1,000
Target: Rs 1,300
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