Trading ideas: 6 stock recommendations for Tuesday

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The benchmark equity indices BSE Sensex and NSE Nifty are likely to open in the green on Tuesday tracking global cues and SGX Nifty. The NSE Nifty defied gravity for the seventh straight session to close at its fresh lifetime high on Monday as a steady decline in daily Covid-19 cases bolstered investor sentiment. Market heavyweights Reliance Industries, HDFC twins and ICIC Bank witnessed robust buying. Rising for the fourth day, the 30-share BSE Sensex ended 514.56 points or 1% up at 51,937.44 — around 200 points shy of its closing record hit on February 15 this year.

The broader NSE Nifty surged 147.15 points or 0.95% to 15,582.80, closing at a record high for the third consecutive session.

Here are 6 money making ideas from technical analysts that may deliver good gains in the near term.

Recommendations by: Nirav Chheda, Nirmal Bang Securities ICICI Bank | Stop loss: Rs 650 | Target price: Rs 685

UltraTech Cement | Stop loss: Rs 6550 | Target price: Rs 7,000

Cipla | Buy | Stop loss: Rs 932 | Target price: Rs 990

Recommendations by: Sneha Seth, Angel Broking

HBL Power | Buy | Stop loss: Rs 42.80 | Target price: Rs 49.50

Ratnamani Metals | Buy | Stop loss: Rs 1,927 | Target price: Rs 2,050

JSW Steel | Stop loss: Rs 682 | Target price: Rs 741

(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.)