Trading ideas: 6 stock recommendations for October 18, Monday

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 26 points at the opening bell. Overseas, Asian stocks traded mostly lower Monday as investors reacted to the release of key Chinese economic data. China’s economic growth continued to decelerate in the third quarter, as the gross domestic product came in at 4.9%, softened by the country’s zero-tolerance Covid measures and energy shortages. The figure slid from 7.9% for the April-to-June quarter, weighed down by high commodity prices amid uncertainty kindled by the Evergrande Group’s debt crisis, which is piling risk onto the property and banking sectors. US stocks rose on Friday as Goldman Sachs rounded out a week of strong quarterly earnings for the big banks. Here are 6 money making ideas from technical analysts that may deliver solid returns in the near term.

Recommendations by: Ajit Mishra of Religare Broking

Axis Bank | Buy | Stop loss: Rs 780 | Target price: Rs 840

Adani Enterprises | Buy | Stop loss: Rs 1580 | Target price: Rs 1760

Hero MotoCorp | Buy | Stop loss: Rs 2870 | Target price: Rs 3050

Recommendations by: Mazhar Mohammad, Chartview India

Green Ply | Buy | Stop loss: Rs 186 | Target price: Rs 214

NLC India | Buy | Stop loss: Rs 69 | Target price: Rs 94

DCB | Buy | Stop loss: Rs 89 | Target price: Rs 101

(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.)