Investment Insights: Recommended Stocks to Buy from Axis Securities
Rajesh Palviya of Axis Sec suggests Voltamp Transformers, Shilpa Medicare, Persistent Systems shares to buy on April 6
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Rajesh Palviya, Senior Vice President of Technical and Derivatives Research at Axis Securities, recommends buying shares of Voltamp Transformers, Shilpa Medicare, and Persistent Systems. Despite market fluctuations, these stocks show strong bullish trends and significant upside potential in the coming weeks.
- 01Nifty 50 and Sensex showed slight recovery despite ongoing market challenges.
- 02Voltamp Transformers is trending upwards with a target range of ₹9,500-9,800.
- 03Shilpa Medicare has broken its downtrend with a target of ₹427-460.
- 04Persistent Systems has surpassed key resistance levels, with an expected upside of ₹5,500-5,650.
- 05Investors are advised to hold and accumulate these stocks based on technical indicators.
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On April 2, 2023, the Nifty 50 index closed 0.15% higher at 22,713.1, while the Sensex rose 0.25% to 73,319.55, recovering from earlier losses due to a stronger rupee. Rajesh Palviya from Axis Securities suggests investors consider buying shares of Voltamp Transformers, Shilpa Medicare, and Persistent Systems. Voltamp Transformers is currently priced at ₹9,162 and is expected to reach ₹9,500-9,800. Shilpa Medicare, trading at ₹388, has a target of ₹427-460 after breaking a downtrend. Persistent Systems, priced at ₹5,225, shows potential for growth to ₹5,500-5,650. Each stock exhibits strong bullish indicators, including favorable Relative Strength Index (RSI) readings and supportive moving averages, suggesting a positive outlook for investors.
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Investors looking to diversify their portfolios may benefit from these recommendations, potentially increasing their returns in a fluctuating market.
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