Top 10 Stocks to Consider for Trading

As the Indian market prepares to navigate through mixed global cues, investors and traders are seeking opportunities for profitable trades on 16th January 2024. With this in mind, we’ve compiled a comprehensive list of top stock recommendations from various experts to assist traders with their short-term trading strategies.

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1. Reliance Industries Limited (RIL)

Target Price: Rs 2940
Stop Loss: Rs 2688

Headquartered in Mumbai, RIL is a conglomerate with interests in various sectors, including petrochemicals, refining, and telecommunications. Dharmesh Shah, Head of Technical at ICICI Securities, suggests buying RIL with a target price of Rs 2940. This recommendation emphasizes the potential for upward movement in RIL’s stock price.

2. State Bank of India (SBI)

Target Price: Rs 690
Stop Loss: Rs 611

SBI, one of India’s leading public sector banks, presents an attractive trading opportunity. Dharmesh Shah recommends buying SBI shares with a target price of Rs 690. Given the financial strength and market presence of SBI, this stock is poised for potential gains.

3. Coforge Limited

Target Price: Rs 7090
Stop Loss: Rs 6320

Coforge Limited, an IT solutions company, is another stock worth considering for short-term trading. Dharmesh Shah recommends buying Coforge shares with a target price of Rs 7090. As the demand for IT services continues to grow, Coforge has the potential to deliver favorable returns.

4. Housing and Urban Development Corporation Limited (HUDCO)

Target Price: Rs 143
Stop Loss: Rs 126

HUDCO, a government-owned company, operates in the housing and urban development sector. Dharmesh Shah suggests buying HUDCO shares with a target price of Rs 143. Given the government’s focus on affordable housing and urban infrastructure development, HUDCO presents an attractive trading opportunity.

 

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5. Voltas Limited

Target Price: Rs 1100
Stop Loss: Rs 1034

Voltas Limited, a leading air conditioning and engineering solutions provider, is recommended by market expert Kunal Bothra. This stock offers potential trading gains, with a target price of Rs 1100. As the demand for cooling solutions continues to rise, Voltas is well-positioned to benefit from this trend.

6. KCP Limited

Target Price: Rs 198
Stop Loss: Rs 183

KCP Limited is a diversified business conglomerate with interests in cement, heavy engineering, and power. Kunal Bothra suggests buying KCP shares, targeting a price of Rs 198. With its diverse business segments, KCP provides investors with exposure to multiple sectors.

7. Landmark Limited

Target Price: Rs 880
Stop Loss: Rs 820

Landmark Limited, which operates in the footwear and accessories segment, offers an interesting trading opportunity. Kunal Bothra recommends buying Landmark shares with a target price of Rs 880. As the retail sector continues to evolve, Landmark is well-positioned to capitalize on consumer trends.

8. State Bank of India (SBI)

Target Price: Rs 700
Stop Loss: Rs 620

Nooresh Merani, an independent technical analyst, also suggests buying SBI shares – reinforcing the potential for favorable trading opportunities. With a target price of Rs 700, SBI remains an attractive stock to consider for short-term trading.

 

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9. Syngene International Limited

Target Price: Rs 800
Stop Loss: Rs 720

Syngene International Limited, a contract research and manufacturing organization, is recommended by Nooresh Merani. With a target price of Rs 800, Syngene presents an interesting opportunity in the healthcare industry, where research and development are crucial for growth.

10. Taj GVK Hotels & Resorts Limited

Target Price: Rs 280
Stop Loss: Rs 240

Taj GVK Hotels & Resorts Limited, a joint venture between the Taj Group and GVK Group, operates luxury hotels across India. Nooresh Merani suggests buying Taj GVK Hotel shares with a target price of Rs 280. As tourism and domestic travel surge, the hospitality sector is expected to witness robust growth.

 

Source:indiatimes.com

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