Top Short-Term Stock Picks: CDSL, Patanjali Foods, and Kalyan Jewellers Recommended by Anand Rathi's Jigar Patel
Stocks to buy for short term: From CDSL to Patanjali Foods - Jigar Patel of Anand Rathi recommends 3 shares
Mint
Image: Mint
Indian stock market volatility is expected this week due to geopolitical tensions and economic indicators. Jigar S. Patel from Anand Rathi recommends three stocks for short-term investment: CDSL, Patanjali Foods, and Kalyan Jewellers, with target prices and buying ranges outlined for each.
- 01Nifty 50 index shows bullish momentum after breaking above 24,300.
- 02CDSL is recommended with a target price of ₹1,380 and a buying range of ₹1,260 to ₹1,230.
- 03Patanjali Foods has a target price of ₹510, with a buying range of ₹465 to ₹455.
- 04Kalyan Jewellers India is suggested with a target price of ₹470 and a buying range of ₹426 to ₹420.
- 05Technical indicators suggest potential upward movements for all three stocks.
Advertisement
In-Article Ad
The Indian stock market is anticipated to experience volatility this week, influenced by developments in US-Iran relations, crude oil prices, and macroeconomic indicators. The Nifty 50 index has shown resilience, closing at 24,176 and confirming a breakout above 24,300. Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers, highlights that a sustained move above 24,400 could lead to further bullish momentum towards 24,600 and 24,800 levels. He recommends three stocks for short-term investment: CDSL, Patanjali Foods, and Kalyan Jewellers. CDSL is advised for purchase in the range of ₹1,260 to ₹1,230, targeting ₹1,380 with a stop loss at ₹1,155. Patanjali Foods is suggested in the range of ₹465 to ₹455, aiming for ₹510 with a stop loss at ₹435. Kalyan Jewellers India is recommended at ₹426 to ₹420, with a target of ₹470 and a stop loss at ₹398. Technical indicators for all three stocks suggest potential upside recovery.
Advertisement
In-Article Ad
Investors looking for short-term gains can consider these stocks, which may provide profitable opportunities based on current market trends.
Advertisement
In-Article Ad
Reader Poll
Do you plan to invest in the recommended stocks for short-term gains?
Connecting to poll...
More about Anand Rathi Share and Stock Brokers
Read the original article
Visit the source for the complete story.