Stocks To Buy | Indian Stock Market Experiencing Extreme Volatility
Introduction:
The Indian stock market is currently experiencing extreme volatility, with the market opening on a red signal this morning. However, within a few hours, the stock market bought again, closing the day on a green mark. This volatility has left investors confused about which stocks to invest in.
Axis Securities Selects 4 Stocks for Investment:
To help investors navigate this volatile market, brokerage house Axis Securities has conducted thorough research and selected 4 stocks for investment. These stocks include Hindustan Copper, The Ramco Cements, NTPC, and IRCTC. Experts believe that these stocks have the potential to return at least 22 percent in the next 3 to 4 weeks.
Hindustan Copper:
Hindustan Copper is currently priced at 163 Rs. The recommended purchase price for this stock is between 162-158 rupees, with a stop loss at Rs 148. The estimated growth rate for Hindustan Copper is between 16% and 22%. On the weekly chart, the shares of this company are facing resistance at the price of Rs 160. If this resistance level is broken, the stock may move to Rs 185-195. As of Thursday, September 7, 2023, the shares of Hindustan Copper closed at Rs 163.00 with a fall of 0.46 percent.
Ramco Cements:
The current price of Ramco Cements is 900 Rs. The recommended purchase price for this stock is between Rs. 890-874, with a stop loss at Rs 840. The estimated growth rate for Ramco Cements is between 10% and 15%. On the weekly chart, the shares of this company are facing resistance at the price of Rs 825-820. If this resistance level is broken, the stock may move to Rs 966-1010. As of Thursday, September 7, 2023, the shares of Ramco Cements closed at a price of Rs. 900.00 with a fall of 1.45 percent.
NTPC:
The current price of NTPC is Rs.234.70. The recommended purchase price for this stock is between Rs. 228-223, with a stop loss at Rs 216. The estimated growth rate for NTPC is between 9% and 13%. On the weekly chart, the shares of this company are seeing a bullish flag pattern breakout at the price of Rs 222. If the stock sustains above this price, it may move to Rs 255 in the near term. As of Thursday, September 7, 2023, the shares of NTPC closed at Rs 234.70 with a gain of 1.21 percent.
IRCTC:
The current price of IRCTC is Rs.707.25. The recommended purchase price for this stock is between Rs. 688-676, with a stop loss at Rs 655. The estimated growth rate for IRCTC is between 8% and 11%. On the weekly chart, the shares of this company are seeing a breakout of an inverted head and soldier pattern at the price of Rs 670. If the stock sustains above this resistance level, it may move to Rs 736-760. As of Thursday, September 7, 2023, the shares of IRCTC closed at a price of Rs 707.25 with a fall of 0.18 percent.
Important Note:
Investing in mutual funds and the stock market comes with risks. It is advisable to consult a financial advisor before making any investments. AkhandIndia.com shall not be liable for any financial loss incurred.
News Title:
Stocks To Buy for investment on 07 September 2023.
