Trading ideas: 5 stock recommendations for Thursday

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could plunge over 100 points at the opening bell on Thursday. The benchmark equity indices Sensex and Nifty retreated from record-high levels on Wednesday following intense selling in Reliance and HDFC twins as investors turned cautious ahead of the outcome of the US Federal Reserve’s policy meeting. The 30-share BSE index ended 271.07 points or 0.51% lower at 52,501.98. It had closed at an all-time high of 52,773.05 on Tuesday. The broader NSE Nifty retreated from a record and declined 101.70 points or 0.64% to 15,767.55.

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

Recommendations by Sneha Seth, Angel Broking

Castrol | Buy | Stop loss: Rs 146.50 | Target price: Rs 158

Alembic Pharma | Buy | Stop loss: Rs 977 | Target price: Rs 1070

Recommendations by Nirav Chheda, Nirmal Bang Securities

ONGC | Buy | Stop loss: Rs 122 | Target price: Rs 136

HDFC Life Insurance | Buy | Stop loss: Rs 682 | Target price: Rs 720

Dr Reddy’s Labs | Buy | Stop loss: Rs 5,300 | Target price: Rs 5,600

(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.)