Trading ideas: 6 stock recommendations for August 11, Wednesday

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain over 30 points at the opening bell. Earlier, the domestic equity barometers ended the volatile session with small gains on Tuesday. After hitting record high levels in mid-morning trade, the benchmarks reversed the trend and briefly slipped into the red in mid-afternoon trade. The key indices, however, bounced back in the late trade. The Nifty managed to settle above the 16,250 mark. IT stocks rallied while metals and realty shares tumbled. The barometer index, the S&P BSE Sensex, added 151.81 points or 0.28% to 54,554.66, a record closing high level. The Nifty 50 index advanced 21.85 points or 0.13% to 16,280.10. Here are 6 money making ideas from technical analysts that may deliver good gains in the near term.

Recommendations by: Mudit Goyal, SMC Global Securities

HDFC AMC | Buy | Stop loss: Rs 2940 | Target price: Rs 3,100

Axis Bank | Buy | Stop loss: Rs 748 | Target price: Rs 780

Sun Pharma | Buy | Stop loss: Rs 785 | Target price: Rs 808

Recommendations by: Santosh Meena, Swastika Investmart

HCL Technologies | Buy | Stop loss: Rs 1045 | Target price: Rs 1100

HUL | Buy | Stop loss: Rs 2355 | Target price: Rs 2425

RBL Bank Fut | Sell | Stop loss: Rs 176 | Target price: Rs 167.50

(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.)