Short-Term Stock Picks: Kotak Securities' Amol Athawale Recommends Tech Mahindra, Lupin, and Maruti Suzuki
Stocks to buy for the short term: Kotak Securities’ Amol Athawale shares 3 picks including Tech Mahindra, Maruti
Mint
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Amol Athawale, VP of Technical Research at Kotak Securities, has identified three stocks to buy for the short term: Tech Mahindra, Lupin, and Maruti Suzuki. The recommendations come after strong market gains driven by optimism regarding a potential US-Iran peace deal, with the Sensex rising by 1,264 points to close at 78,111.
- 01The Sensex surged 1,264 points to 78,111 on April 16, 2023.
- 02Amol Athawale recommends Tech Mahindra, Lupin, and Maruti Suzuki for short-term investments.
- 03Tech Mahindra has a target price of ₹1,585, with a stop loss at ₹1,430.
- 04Lupin's target price is ₹2,500, with a stop loss at ₹2,250.
- 05Maruti Suzuki is expected to reach a target price of ₹14,200, with a stop loss at ₹12,800.
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On April 16, 2023, the Indian stock market experienced significant gains, with the Sensex climbing 1,264 points to close at 78,111 and the Nifty 50 rising 389 points to 24,231. This surge was fueled by optimism surrounding potential negotiations between the US and Iran, which could signal an end to ongoing tensions. Amol Athawale, VP of Technical Research at Kotak Securities, provided insights into the market's upward trend, suggesting that day traders should buy on dips and sell on rallies. He identified three stocks for short-term investment: Tech Mahindra, Lupin, and Maruti Suzuki. Tech Mahindra is expected to rise to a target price of ₹1,585, while Lupin is projected to reach ₹2,500, and Maruti Suzuki is anticipated to hit ₹14,200. Each stock has a specified stop loss to manage risk, indicating a strategic approach to trading in the current market environment.
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Investors looking to capitalize on short-term gains can consider these recommendations, which may lead to potential profits if the stocks perform as projected.
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