Short-term Stock Strategies: Ajit Mishra's Recommendations for RBL Bank, Sun Pharma, and Tata Motors
Stocks to buy or sell for short term: Religare Broking's Ajit Mishra suggests strategies for 3 shares
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Ajit Mishra, Senior Vice President of Research at Religare Broking, has provided short-term trading strategies for three stocks: RBL Bank (buy), Sun Pharmaceutical Industries (buy), and Tata Motors Passenger Vehicles (sell). The Nifty 50 index recently closed at 23,997.55, reflecting a decline due to rising crude oil prices and global market pressures.
- 01Nifty 50 index closed at 23,997.55, down 0.74% amid global market pressures.
- 02Ajit Mishra recommends buying RBL Bank shares with a target price of ₹370.
- 03Sun Pharma is also a buy with a target price of ₹1,980, showing signs of a trend reversal.
- 04Mishra advises selling Tata Motors Passenger Vehicles with a target price of ₹322 due to bearish trends.
- 05Traders are encouraged to focus on risk management and sector-specific opportunities.
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On April 30, the Nifty 50 index closed at 23,997.55, down 0.74% due to rising crude oil prices and adverse global cues. Ajit Mishra from Religare Broking highlighted the ongoing market uncertainty, suggesting that a decisive move below 23,800 could lead to further declines towards 23,500. He recommended three stocks for short-term trading: RBL Bank, which has shown a breakout with a target price of ₹370 and a stop loss at ₹320; Sun Pharmaceutical Industries, showing signs of a reversal with a target price of ₹1,980 and a stop loss at ₹1,720; and Tata Motors Passenger Vehicles, which he advises selling with a target price of ₹322 and a stop loss at ₹355 due to sustained bearish trends. Mishra emphasized the importance of risk management and monitoring market cues.
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Investors considering these stocks could see potential gains or losses based on the recommended strategies. RBL Bank and Sun Pharma may offer opportunities for profit, while Tata Motors could lead to losses if sold short.
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