Trading ideas: 5 stock recommendations for Tuesday

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Benchmark equity indices BSE Sensex and NSE Nifty ended with sharp losses on Monday on account of rising Covid-19 cases. Today, the start of the session is likely to be positive on firm global cues. Traders will get support as India has attracted record total FDI inflow for the first ten months of a financial year in 2020-21. Accordingly, the inflow rose to $72.12 billion during April to January, 2021, 15% higher as compared to the first ten months of 2019-20, when it stood at $62.72 billion. The FDI equity inflow grew by 28% in the first ten months of FY 2020-21 ($54.18 billion) compared to the year ago period ($42.34 billion).

Here are 5 money making ideas from technical analysts that may deliver good gains in the near term.

Recommendations by: Nirav Chheda, Nirmal Bang Securities Dr Reddy’s Labs | Buy | Stop loss: Rs 4,480 | Target price: Rs 4,700

Finolex Industries | Buy | Stop loss: Rs 650 | Target price: Rs 695

Recommendations by: Mehul Kothari, Anand Rathi Financial Services Info Edge | Buy | Stop loss: Rs 4,200 | Target price: Rs 4,800

Tata Elxsi | Buy | Stop loss: Rs 2,815 | Target price: Rs 2,940

Tata Steel | Buy | Stop loss: Rs 900 | Target price: Rs 810

(Disclaimer: Stocks recommendations by experts or brokerages are their own and not those of the website or its management. Money9.com advises market participants to check with certified experts before taking any buy, sell or hold decisions.)