Stocks to Buy – HDFC Life shares – Jain called it a quality stock and said that the stock is poised well for an upside. He said that the existing shareholders should stay put in this stock. New investors willing to invest could enter at existing levels or even buy on dips
Stocks to Buy – Nifty September Series – HDFC Life, HCL Technologies, Adani Ports – Even as the mood of the markets became somber towards the end of the trading session on Thursday, HDFC Life Insurance Company Limited shares and HCL Technologies Limited stocks were trading in the green. Meanwhile, Adani Ports and Special Economic Zone Limited was trading with some positive bias today, though flat around the twilight of the trading session.
All the three stocks were among the top gainers on Nifty 50 on the intraday basis and around the morning session. These three stocks are also the top buys for analyst Nilesh Jain, who is Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking.
Stocks to Buy – HDFC Life shares – Jain called it a quality stock and said that the stock is poised well for an upside. He said that the existing shareholders should stay put in this stock. New investors willing to invest could enter at existing levels or even buy on dips.
This stock today ended at Rs 699.45 on the NSE, up by 1.7 per cent from the last closing price on Wednesday. He puts the target price at Rs 740. He puts the stop loss at Rs 630. The 52-week high for this stock is Rs 746 which it attained on 10 March 2021. The 52-week low is at Rs 555.95 which it hit on 30 September 2020.
Stocks to Buy – HCL Technologies shares – This stock ended at Rs 1168.10, up by 1.2 per cent from the Wednesday closing price. It is currently trading near its all-time high levels of Rs 1178.20. He said that this stock should be bought at levels around Rs 1140, so a buy on dips is recommended. He puts the target price at Rs 1200, while the stop loss is at Rs 1100.
The 52-week low of Rs 682.40was hit on 1st September.
Stocks to Buy – Adani Ports shares – This stock ended at Rs 721.90 on Thursday, up by 0.16 per cent. Jain said that the stock witnessed a breakout at levels of Rs 700 on Wednesday. It has been showing consolidation which now works well as the stock is ready to move up during the September month.
He said that one must not expect a free run in the markets from this stock and a gradual upward move is expected. He puts the stop loss at Rs 700. He gives three targets – Rs 750, Rs 780 and Rs 800 respectively.
