At a special Muhurat Trading event today, which marks the start of Samvat 2081, Vikas Sethi, Managing Director of Sethi Finmart, suggested two short-term stock picks. Importantly, we entered the new Samvat – the new year according to Hindu tradition on a strong note with the Nifty trading higher by around 0.45 percent at over 24,300 levels. Meanwhile, the broader markets outperformed the headline indices, with the Nifty Smallcap 100 index rising more than 1 percent.
Here are 2 of Vikas Sethi’s stock recommendations
VST Tillers
The analyst recommended the stock after the company’s strong sales figures in October. In the survey, the analyst pointed to a target of Rs 4,650 on Monday ie November 4, which means a rise of more than 4 percent in 2 days.
The recommended stop loss for the same is Rs 4,410.
A small company with an m-cap of is engaged in the production of power tillers and tractors.
NBCC
Another stock on his recommendation list today is a PSU company involved in the construction business. Similarly, the expert has given a target of Rs 102 with a stop loss of Rs 94.
Most experts remain bearish on India’s growth story and expect the indices to deliver returns in the mid-double digits over a 12-month period. Aditya Agarwal Head of Derivatives and Technical Analysis at Sanctum Wealth, however, from a short-term perspective, expects the market to remain volatile with a 4-5 percent correction.