Stocks to Buy on Monday – Cipla, Vardhman Textiles, Poly Medicure are intraday F&O, cash market, positional picks for these targets
Sandeep Jain recommends Cipla as an intraday pick on Monday. This is from the F&O segment. This stock was recommended at Rs 954. He puts the target price at Rs 965 while the stop loss at Rs 947
The week gone by has been quite eventful for the domestic stock markets. Both, Sensex and Nifty50 made intraday highs before settling in the red on Friday. Over the week, they were up by almost 1.25 per cent. The Nifty Bank also surpassed levels of 38,000 for the first time but witnessed profit booking at top levels later in the day. It ended at 37,811.95, up 143 points or 0.4 per cent from the last closing on Thursday.
The markets started on a positive note only to end negatively, Analyst Sandeep Jain said. The markets are getting cautious, he opined. He recommended three stocks for Monday – one each from the cash markets, Future & Options (F&O) and with a positional term view.
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He recommended Cipla as an intraday pick on Monday from the F&O segment. This stock was recommended at Rs 954. He puts the target price at Rs 965 while the stop loss at Rs 947.
Jain recommended Vardhman Textiles Limited as an intraday pick from the cash market segment. The stock ended at Rs 1917 on the NSE on Friday, up 2.6 per cent from the Thursday closing price. The target price is Rs 1950 while the stop loss is Rs 1890.
The 52-week high of this stock is Rs 2039.70 which Vardhman Textiles achieved on 4 August 2021 while the 52-week low is Rs 720.05 which it hit on 24 September 2020.
The Tradeswift Director picked Poly Medicure Limited as his top buy with a positional term view. Calling it as an excellent stock, Jain said that this stock is looking strong fundamentally and technically.
Poly Medicure stock ended at Rs 972.05 on the NSE, up by almost 1.6 per cent from the last closing price. He puts the target price at Rs 1020 while the stop loss at Rs 930.
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