Top Short-Term Stock Picks Amid Market Volatility: Glenmark Pharma, JSW Energy, and Marico
Stocks to buy for short term: From Glenmark Pharma to Marico - Ajit Mishra of Religare Broking suggests 3 stock picks
Mint
Image: Mint
The Indian stock market faced losses due to weak global cues and rising crude oil prices, with the Sensex dropping 852 points to 77,664. Ajit Mishra from Religare Broking recommends three stocks for short-term investment: Glenmark Pharmaceuticals, JSW Energy, and Marico, citing their strong performance and potential for gains.
- 01The Indian stock market saw significant losses, with the Sensex down 852 points.
- 02Ajit Mishra recommends three stocks for short-term investment: Glenmark Pharmaceuticals, JSW Energy, and Marico.
- 03Glenmark Pharmaceuticals has shown strong performance and potential for further gains.
- 04JSW Energy is expected to break out of its consolidation phase, signaling an upward trend.
- 05Marico is positioned for recovery, with a favorable risk-reward scenario for investors.
Advertisement
In-Article Ad
The Indian stock market continued its downward trend, with the Sensex falling 852 points (1.09%) to close at 77,664 and the Nifty 50 dropping 205 points (0.84%) to finish at 24,173.05. This decline was influenced by weak global cues and a spike in crude oil prices, which have crossed the $100 mark. Ajit Mishra, Senior Vice President of Research at Religare Broking, highlighted that the Nifty has entered a critical support zone between 24,000 and 24,200, and emphasized the importance of maintaining this level for a positive market outlook. He recommended three stocks for short-term investment: Glenmark Pharmaceuticals, which closed at ₹2,335 with a target price of ₹2,530; JSW Energy, previously at ₹561.40 with a target of ₹605; and Marico, which closed at ₹778.90 with a target of ₹835. Each of these stocks has shown strong technical indicators and potential for upward movement in the coming weeks.
Advertisement
In-Article Ad
Investors may face challenges in the current market environment, with potential volatility affecting stock prices. The recommended stocks could provide opportunities for gains amidst this uncertainty.
Advertisement
In-Article Ad
Reader Poll
Do you think investing in short-term stocks is a good strategy in the current market?
Connecting to poll...
More about Religare Broking
Read the original article
Visit the source for the complete story.