Stock Market Insights: Top Picks from Jay Thakkar for Short-Term Trading
Mankind Pharma to CG Power - Jay Thakkar suggests 3 stocks to buy or sell for short-term in F&O segment
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Jay Thakkar, Vice President at ICICI Securities, suggests buying Mankind Pharma, CG Power, and ABB India futures for short-term trading. The Nifty 50 is expected to trade within 23,800 to 24,300, with potential upward movement if geopolitical tensions ease.
- 01Nifty 50 trading range narrowed between 23,800 and 24,300.
- 02Mankind Pharma futures recommended buy at ₹2,330-2,340.
- 03CG Power futures suggested at ₹830-832 with targets of ₹860-875.
- 04ABB India futures advised at ₹7,320-7,340, targeting ₹7,500-7,600.
- 05Market sentiment affected by rising crude oil prices and geopolitical tensions.
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The Indian stock market is poised for a positive start, with the GIFT Nifty trading at 24,279, a premium of 172.7 points over the previous close. The benchmark indices, BSE Sensex and Nifty 50, ended the last session in the red due to profit booking in banking stocks. The Nifty 50 has been fluctuating within a range of 23,800 to 24,300, with support at 23,300 and resistance at 24,300. Jay Thakkar from ICICI Securities recommends buying Mankind Pharma futures in the range of ₹2,330-2,340 with targets of ₹2,400-2,450. He also suggests CG Power futures at ₹830-832, targeting ₹860-875, and ABB India futures at ₹7,320-7,340, aiming for ₹7,500-7,600. These recommendations come amid concerns over rising international crude oil prices and a weakening Indian Rupee, which are impacting market sentiment.
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Investors may find opportunities in the recommended stocks, potentially leading to short-term gains. However, market volatility due to geopolitical tensions may affect investment decisions.
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