Two stocks to buy, recommended by MarketSmith India:
● Ashok Leyland Ltd: Current market price ₹ 223.61| Buy range ₹ 215–225 | Profit goal ₹ 262 | Stop loss ₹ 202 | Timeframe 1–2 Months
Also read | Bulls may struggle to protect crucial 22,800 support level amid persistent foreign outflows
● Sarda Energy & Minerals Ltd: Current market price ₹ 480.65 | Buy range ₹ 466–485| Profit goal ₹ 590| Stop loss ₹ 438| Timeframe 1–2 Weeks
Three stocks to buy and sell, recommended by NeoTrader’s Raja Venkatraman:
• Poonawala Fincorp.: Sell below ₹285, stop ₹293, target ₹260
Shares of this financial services company have been losing its footing and the steady decline in prices resolve to move higher and is demonstrating strong trended action in the last few days. As with the negative Directional Index gaining strength the prices are steadily declining indicating signs of selling emerging. Consider going short.
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• Sarda Energy & Minerals Ltd: Buy above ₹481, stop ₹466, target ₹510
After a period of consolidation at the MA Bands, this metal stock has posted a strong Q3, indicating the company’s ability to overcome challenges and make a solid upward move. The long body candle seen on Monday suggests further price momentum. Positive sector sentiment supports the continuation of a buy scenario.
• PVR Inox: Sell at ₹1,006, stop ₹1,025, target ₹920
PVR Inox is facing a rough patch with a string of disappointing movie releases, putting further pressure on profitability. The lack of a consumption recovery is contributing to mounting concerns, and the trends remain clearly negative. The stock has been steadily declining in recent sessions, and volatile market conditions suggest the downtrend could continue. With momentum showing a negative bias, we maintain a short position.
Also read | Hindalco’s Q3 story: Novelis lags, while India biz holds up
About the analysts: MarketSmith India is a stock research platform. Raja Venkatraman is co-founder, NeoTrader.
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Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.