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Stocks to buy: Rakesh Bansal recommends HUL and Indiabulls Housing Finance shares to buy for short term


Stocks to buy: After choppy trading throughout the day, the Indian stock market ended lower on Friday. Nifty 50 index lost 33 points and ended at 19,730 levels, BSE Sensex went down 187 points and closed at 65,794 marks and Bank Nifty index corrected 577 points and ended at 43,583 levels. Broad market indices ended slightly positive even as the pre-reduction ratio, albeit positive at 1.16:1, fell on the previous day. Therefore, it becomes quite difficult for stock investors to discover value options, especially if they are looking for short-term stocks.

To solve this problem for stock market investors, Rakesh Bansal, Co-Founder & Partner at Rakesh Bansal Ventures has listed two stocks for the short term and the two stocks selected are Indiabulls Housing Finance and Hindustan Unilever Ltd (HUL).

Shares to buy on Monday

1]Indiabulls Housing Finance: Buy at CMP, target 190, goal 300, stop loss 160.

Indiabulls Housing Finance share is currently available at 190 apiece level on NSE. The mortgage player reported a marginal 3 per cent jump in net profit to 298 crore in the July to September 2023 quarter YoY. However, the company’s management said in a conference call that they are in talks with corporates for investment. And this is the basic trigger for the NBFC stock. A stock has generally been found to offer upside to get on the F&O ban list.

The stock also offers sharp upside after coming off the F&O ban list. Since Indiabulls Housing Finance shares recently came out on the M&O ban list, Indiabulls Housing Finance shares may experience a sharp downside in the short term.

Also read: Buy or sell: Sumeet Bagadia recommends buying three stocks next week

Those who have Indiabulls Housing Finance shares in their portfolio are advised to stop continuous loss at 160 for a near term target 300 apiece on NSE. For fresh investors, Indiabulls Housing Finance shares can be bought at 190 levels apiece 300 goals in the short term. However, one must maintain a stop loss 160 levels and a fresh position in the scripture.

2]Hindustan Unilever Ltd or HUL: Buy at 2525 to 2530, goal 2850, stop loss 2400.

HUL’s share price became the first Indian stock to surpass its pre-Covid levels in the stock market’s recovery after the bloodbath on Dalal Street in 2020. HUL’s shares followed those of Reliance. FMCG stocks have been trading sideways for almost one year as ITC shares dominated the FMCG segment.

However, the FMCG theme is expected to work in the coming sessions as the high interest rate is peaking and banking stocks are expected to give limited returns in the short term (read private bank shares).

Also read: Tata Tech IPO: GMP jumps as issue opens next week. Date, price, other details

On the chart pattern, HUL share price looks positive and may rise sharply in the short term. On a chart pattern, the stock is facing an obstacle at 2750 levels. if these levels are breached, HUL’s share price is expected to touch it 2850 apiece levels in a very short time.

Disclaimer: The above opinions and recommendations are the opinions and recommendations of individual analysts or brokerage firms, and are not the opinions of Mint. We encourage investors to check with certified experts before making any investment decision.

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Updated: 18 November 2023, 03:50 PM IST

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