Market experts have identified five stocks that traders can consider buying, based on technical indicators and favourable risk-reward setups. The recommendations include IPCA Laboratories Ltd., HBL Engineering Ltd., ICICI Bank Ltd., Ratnaveer Precision Engineering Ltd. and Inox Wind Ltd.
Based on the targets provided by the analysts, these stocks offer a potential upside of up to 19% from their respective current market prices. Traders, however, have been advised to follow the prescribed stop-loss levels to manage downside risk.
IPCA Laboratories Ltd. (CMP: Rs 1,940.50)
Market expert Sachin Janardan Sarvade has recommended buying IPCA Laboratories shares within the Rs 1,915-1,953 range. He has set a target price of Rs 2,285 and advised traders to maintain a stop-loss at Rs 1,789. Based on the current market price, the target indicates a potential upside of 17.75%
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HBL Engineering Ltd. (CMP: Rs 767.00)
Sarvade has also suggested buying HBL Engineering shares between Rs 755 and Rs 770. The stock has a target price of Rs 915, while the recommended stop-loss is Rs 699. The target implies a potential gain of 19.30% from the current market price.
ICICI Bank Ltd. (CMP: Rs 1,394.20)
Deven Mehata, Manager – Technical & Derivatives Analyst at IDBI Capital Market and Securities Ltd., has recommended buying ICICI Bank shares at Rs 1,394.20. He has placed the target at Rs 1,470, with a stop-loss at Rs 1,355. The recommendation offers a potential upside of 5.44%.
Ratnaveer Precision Engineering Ltd. (CMP: Rs 326.30)
Mehata has also issued a buy recommendation on Ratnaveer Precision Engineering at Rs 330.70. He has suggested a target price of Rs 358 and a stop-loss at Rs 317. Compared with the current market price, the target represents a potential upside of 9.72%
Inox Wind Ltd. (CMP: Rs 58.93)
VLA Ambala, SEBI-registered research analyst and founder of SMT Stock Market, has recommended buying Inox Wind around Rs 56-57. Ambala has given targets of Rs 61 and Rs 67, with a stop-loss at Rs 51. From the current market price, the first target indicates an upside of 3.51 per cent, while the second points to a potential gain of 13.70%
Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are of their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.
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