Top Short-Term Stock Picks: Engineers India, Prestige Estates, and Exide Industries
Stocks to buy for short term: From Engineers India to Exide Industries— Anand Rathi's Jigar Patel recommends 3 shares
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Market benchmarks, the Sensex and Nifty 50, gained nearly 6% in the week ending April 10, marking a strong recovery. Jigar S. Patel from Anand Rathi recommends three stocks—Engineers India, Prestige Estates Projects, and Exide Industries—for short-term investment, highlighting their potential upside and supportive technical indicators.
- 01Nifty 50 rebounded nearly 6%, closing at 24,050, breaking previous resistance levels.
- 02Jigar Patel recommends Engineers India, Prestige Estates, and Exide Industries for short-term gains.
- 03Engineers India has a target price of ₹245 with a buying zone of ₹210-215.
- 04Prestige Estates is suggested with a target of ₹1,465, buying zone at ₹1,300-1,325.
- 05Exide Industries offers a target price of ₹365, with a buying zone of ₹315-325.
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The Nifty 50 index experienced a significant rebound, gaining nearly 6% and closing at 24,050 for the week ending April 10, ending a six-week losing streak. Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers, noted that this rally suggests a potential shift in market momentum, despite ongoing geopolitical tensions affecting oil prices. Patel recommends three stocks for short-term investment: Engineers India, with a target price of ₹245 and a buying range of ₹210-215; Prestige Estates Projects, targeting ₹1,465 with a buying zone of ₹1,300-1,325; and Exide Industries, which has a target of ₹365 and a buying range of ₹315-325. Each stock shows promising technical indicators, including support levels and momentum signals, suggesting favorable risk-reward opportunities for investors.
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Investors looking to capitalize on the recent market recovery may find opportunities in these recommended stocks, potentially enhancing their portfolios in a volatile market.
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