Top Short-Term Stock Picks: SBI Cards, Pidilite Industries, and DLF Recommended by Kotak Securities
Stocks to buy for short term: SBI Cards, DLF among 3 shares Kotak Securities’ Amol Athawale suggests for next 1-2 weeks
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Amol Athawale from Kotak Securities recommends buying SBI Cards, Pidilite Industries, and DLF for short-term investments over the next 1-2 weeks. Despite recent market losses, these stocks show potential for upward movement based on technical analysis.
- 01Nifty 50 index fell by 199 points, closing at 24,378.10 amid profit booking.
- 02Amol Athawale suggests SBI Cards, Pidilite Industries, and DLF as top picks for short-term investment.
- 03SBI Cards has a target price of ₹730, with a stop loss at ₹660.
- 04Pidilite Industries is targeted at ₹1,510, with a stop loss at ₹1,370.
- 05DLF is expected to rise to ₹650, with a critical stop loss at ₹590.
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The Indian stock market experienced significant losses on April 22, 2023, with the Nifty 50 index dropping 199 points to close at 24,378.10. Amid this backdrop, Amol Athawale, VP of Technical Research at Kotak Securities, recommends three stocks for short-term investment over the next 1-2 weeks. The first recommendation is SBI Cards and Payment Services, which closed at ₹686.20 with a target price of ₹730 and a stop loss at ₹660. Athawale notes that the stock has reversed from a demand zone and shows bullish momentum. The second stock, Pidilite Industries, closed at ₹1,419 and has a target of ₹1,510 with a stop loss at ₹1,370. This stock has broken out from an inverse head and shoulder pattern, indicating potential for further gains. Lastly, DLF, which closed at ₹610.65, is expected to rise to ₹650 with a stop loss at ₹590. Athawale emphasizes that maintaining above these stop loss levels is crucial for the bullish outlook of these stocks.
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Investors considering these stocks may find potential for gains in the short term, but should also be aware of market volatility.
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