Trading ideas: 5 stock recommendations for October 6, Thursday

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 34 points at the opening bell. The Reserve Bank of India’s (RBI) monetary policy committee (MPC) three-day meeting begins today, 6th October 2021. The MPC will announce its interest rate decision on Friday, 8 October 2021. IT major TCS will announce its Q2 results on Friday, 8 October 2021. Infosys will announce Q2 results on 13 October 2021. Ratings agency Moody’s hiked India’s sovereign credit rating outlook to stable from negative, citing an improvement in the financial sector and faster-than-expected economic recovery across sectors. The decision to change the outlook to stable reflects Moody’s view that the downside risks from negative feedback between the real economy and financial system are receding, Moody’s said in a report on October 5. It said that with higher capital cushions and greater liquidity, banks and non-bank financial institutions pose a much lesser risk to the sovereign than previously anticipated. Here are 5 money making ideas from technical analysts that may deliver good gains in the near term.

Recommendation by: Mehul Kothari, Anand Rathi

Garden Reach | Buy | Stop loss: Rs 188 | Target price: Rs 218

LIC Housing Fin | Buy | Stop loss: Rs 440 | Target price: Rs 466

Recommendation by: Milan Vaishnav, Gemstone Equity Research and Advisory

Torrent Power | Buy | Stop loss: Rs 506 | Target price: Rs 535

State Bank of India | Buy | Stop loss: Rs 455 | Target price: Rs 480

Amara Raja Batteries | Buy | Stop loss: Rs 750 | Target price: Rs 790

(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.)