4 Stocks To Buy And Sell For Short Term Gains

Markets have remained exceedingly volatile over the last few days. According to Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services, global markets got back their positive mojo with fall in US bond yields and oil price. Also progress over the US Debt ceiling deal between the Democrats and Republicans aided sentiments. US 10-Year bond declined marginally at 1.51%. Crude Oil prices fell nearly by 2% after an unexpected rise in US crude inventory.

Domestic markets stay strong

"Domestic markets are holding up strong on the back of several positive factors like rating outlook upgrade, strong pre-quarterly data and healthy commentary from corporates for the festive season. Although volatility has increased due to global factors as well as elevated valuations. Q2 result season would officially start with TCS numbers on Friday. Also RBI's monetary policy meeting decision is due on Friday. In this environment of global uncertainty and sector specific action, Investors should make use of small dips in the market to accumulate fundamentally strong stocks," Khemka says.

4 stock ideas for short term traders for Oct 8

1) Dr. Ravi Singh, Head of Research & Vice President, ShareIndia 
ICICI BANK: Buy the stock at Rs 702, Target on the stock at Rs 715, Stop loss at Rs 695.

HINDALCO: Buy the stock at Rs 477, Target on the stock at Rs 488, Stop Loss Rs 474

2) Manoj Dalmia, Founder and Director, Proficient Equities Private Limited
ABAN OFFSHORE: Buy the stock at Rs 54, TARGET Rs 61, Stop Loss Rs 51.50
3) Ravi Singhal, Vice chairman, GCL Securities Limited
TRENT: BUY the stock at Rs 1111, Stop Loss Rs 1077, Target Rs 1144

Disclaimer

The stocks recommended above are based on the recommendations of technical analyst. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies Pvt Ltd, the author, and the analysts are not liable for any losses caused as a result of decisions based on the article. The above article is for informational purposes only.