Experts Recommend Six Stocks for Short-Term Gains with Target Prices

The Nifty 50 index rose by 0.60 percent to close at 22,555.75 on Monday, October 5, ending a four-day losing streak. This modest recovery was supported by a drop in crude oil prices and encouraging global cues. Investors moderated their expectations for aggressive interest rate hikes by the US Federal Reserve following weaker-than-expected US employment data.

After approaching a key long-term support level near 22,400, the index managed some upward movement. Despite this rebound, market analysts caution that the technical outlook remains fragile. The index continues to trade below critical moving averages while exhibiting a pattern of lower highs and lower lows.

Vishnu Kant Upadhyay, Assistant Vice President of Research at Master Capital Services, shared a cautious view. He noted, "The near-term trend favors selling on rallies, with resistance likely around 22,800. Support zones between 22,400 and 22,300 may attract buying interest." This suggests traders should remain vigilant and consider tactical entry points.

For investors focused on short-term opportunities over the next one to two weeks, experts Vishnu Kant Upadhyay and Hitesh Tailor from Choice Broking have identified six stocks with promising technical setups and defined risk parameters.

Azad Engineering is recommended at a buy price of ₹2,927, with target prices of ₹3,280 and ₹3,350 and a stop loss at ₹2,660. Upadhyay highlighted the stock’s strong bullish trend following a breakout above a previous high near ₹2,000. The stock has repeatedly shown higher highs and lows, supported by its 21 and 55 exponential moving averages (EMAs). The relative strength index (RSI) at 59 signals positive momentum with room to grow, making a buy-on-dip strategy advisable.

Kirloskar Oil Engines is suggested at ₹2,244, targeting ₹2,520 and ₹2,650, with a stop loss of ₹2,025. The stock recently broke out from a consolidation above ₹2,280, indicating renewed buying momentum. The RSI reading near 54 suggests a constructive technical outlook, and retracements to the breakout zone may offer good entry points.

Aditya Infotech stands out with a buy recommendation at ₹3,990, price targets of ₹4,400 and ₹4,480, and a stop loss set at ₹3,592. The stock has moved decisively above the upper boundary of its ascending channel, signaling a strong upward trajectory. The RSI at 62 and bullish divergence in the MACD indicate improving momentum, supporting the potential for further gains.

From Choice Broking, Hitesh Tailor recommends Thyrocare Technologies at ₹542, with a target of ₹600 and stop loss at ₹515. The stock is showing signs of recovery from a reliable support zone and remains above its 200-day EMA, reflecting a positive long-term trend. The RSI bouncing from oversold levels signals easing selling pressure and a possible upward move.

Carborundum Universal is advised as a buy at ₹1,267, with a target of ₹1,400 and stop loss at ₹1,200. The stock has broken out from a consolidation phase and maintains a position above its key moving averages. The daily RSI is climbing, indicating strengthening buyer interest and room for further upside.

Lastly, Mishra Dhatu Nigam (MIDHANI) is listed as a buy at ₹440, with a target price of ₹475 and a stop loss at ₹420. The stock continues to trade above major EMAs and has bounced off a key demand zone, showing signs of accumulation. Its RSI rising to 57 supports the case for sustained buying pressure and potential gains.

These recommendations come amid a cautious market environment where technical indicators guide trading decisions. Investors should maintain disciplined risk management and use the suggested stop losses to protect capital.

Market participants are advised to consult certified financial advisors before making investment choices, as market conditions can shift quickly. This analysis is educational and does not constitute personalized investment advice.