5 Stocks To Buy For Traders In The Short-Term

During this week, market consolidation is likely to continue on account of mixed corporate earnings, weak global cues and monthly F&O expiry.

Market consolidation to continue

"Market would continue to track rise in covid cases in China and Russia for further cues. Tomorrow two major banks viz Axis Bank and Kotak Bank would be declaring their results and hence Bank Nifty would continue to be in focus. This apart all eyes would be on two large IPOs upcoming this week with Nykaa and Fino Payments Bank cumulatively raising Rs7000 crore," Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

On Monday markets were mixed bag with attention focusing on the latest COVID-19 outbreak in China. Sentiments were also muted on account of Euro zone inflation which surged to multi-year high. On the other hand, investors are cautiously awaiting ECB's Governing Council meet and UK budget later in the week. Oil prices continue hitting multi-year highs, lifted by tight global supply and strengthening fuel demand as economies recover from pandemic-induced slumps.

Stocks to buy for traders

1) Dr. Ravi Singh, Head of Research & Vice President, ShareIndia

ONGC: Buythe stock at Rs 160, Sell the stock at Rs 168, Stop Loss Rs 158

IGPL: Buy the stock at Rs 850, Sell the stock ast Rs 880, Stop Loss Rs 840

KEC International: BUY the stock at Rs 530, Target Rs 550, Stop Loss Rs 520

2) Manoj Dalmia, Founder and Director, Proficient Equities Private Limited

Bank of Baroda: BUY at Rs 96.50, Target Rs 102, Stop Loss at Rs 94

3) Ravi Singhal, Vice chairman, GCL Securities Limited

ONGC: BUY at Rs 161, Target Rs 170, Stop loss Rs 157

Disclaimer

The above stocks are picked from various technical analysts. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.