Trading ideas: 6 stock recommendations for August 2, Monday

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise over 100 points at the opening bell. Earlier, the key equity indices settled with limited losses on Friday, as significant selling pressure in the last hour of trade forced the benchmarks to pare all gains earned during the day. The Nifty closed above the 15,750 mark, after hitting the day’s high at 15,862.80. Pharmaceutical and media stocks rallied while metal shares succumbed to selling pressure. The barometer index, the S&P BSE Sensex, fell 66.23 points or 0.13% to 52,586.84. The Nifty 50 index lost 15.40 points or 0.1% to 15,763.05. Here are 6 money making ideas from technical analysts that may deliver decent returns in the near term.

Recommendations by: Ajit Mishra, Religare Broking

IGL | Buy | Stop loss: Rs 540 | Target price: Rs 580

Bata India | Buy | Stop loss: Rs 1,560 | Target price: Rs 1,690

Bharti Airtel | Buy | Stop loss: Rs 545 | Target price: Rs 600

Recommendations by: Mazhar Mohammad, Chartview India

JK Tyres | Buy | Stop loss: Rs 140 | Target price: Rs 156

Take Solutions | Buy | Stop loss: Rs 59 | Target price: Rs 69

Hindustan Oil Exploration | Buy | Stop loss: Rs 120 | Target price: Rs 134

(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.)