Analysts suggest short-term investments in NMDC, PI Industries, and BEL as their top stock picks

Sonali Saha
3 Min Read

analysts are positive about certain stocks in the current market, believing they will go up in the short term. Here are their thoughts on a few of these stocks:

  1. NMDC (Target Price: Rs 180 | Stop Loss: Rs 160):
    • The NMDC stock is on an upward trend, consistently forming higher high-lows on the daily chart.
    • It’s currently trading above key moving averages, and the RSI (Relative Strength Index) suggests a positive trend with a bullish crossover.
    • Analysts recommend buying this stock with an entry range of Rs 165-167, aiming for a target of Rs 180, and setting a stop loss at Rs 160 to manage risks.
  2. Chambal Fertilisers and Chemicals (Target Price: Rs 355-360 | Stop Loss: Rs 270):
    • Chambal Fertilisers has been facing downward pressure, but it recently formed a Double Bottom pattern, showing potential for an upward movement.
    • The stock has bounced back, breaking above its long-term downward sloping channel, indicating a positive trend.
    • Analysts suggest buying the stock in the range of Rs 305-308 for a target of Rs 355-360, with a stop loss below Rs 270.
  3. Bharat Electronics (Target Price: Rs 167-183 | Stop Loss: Rs 117):
    • BEL has been consistently rising, forming higher high-lows on the weekly timeframe, signaling a bullish setup.
    • Despite recent corrections, the stock rebounded quickly from the 21-day Exponential Moving Average (EMA), showing strong demand at lower levels.
    • Short-term expectations are for the stock to move towards Rs 183, with strong support at Rs 117 on the downside.
  4. PI Industries (Target Price: Rs 4,220-4,250 | Stop Loss: Rs 3,400):
    • PI Industries has been trading in a downward channel, with a pattern of lower low-high on the weekly chart.
    • Recently, the stock has shown a bounce, finding support from its rising channel trend line on the weekly interval.
    • Analysts recommend buying the stock in the range of Rs 3,680-3,700 for a target of Rs 4,220-4,250, with a stop loss below Rs 3,400.

In simpler terms, these analysts think these stocks are likely to go up soon, and they suggest buying them at certain prices with specific targets and protective stop losses to minimize risks.

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Hi, my name is Sonali, I am a content writer specializing in the topics of Relationships, Travel, News, Bollywood, and More.
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