Trading ideas: three stock recommendations for Thursday

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 8 points at the opening bell. Meanwhile, citing faster-than-expected recovery, rising consumer confidence and the resultant spending spike, Swiss brokerage UBS Securities has revised upwards its growth forecast for the current fiscal to 9.5% from 8.9% in September. The brokerage also sees the economy clipping at 7.7% in FY23 but moderating to 6% in FY24, as it expects the benefit of the low-interest rate regime to end by the end of FY23, and it sees the central bank hiking policy rates by 50 bps in the second half of the next fiscal. Here are three money-making ideas from technical analysts that may deliver solid returns in the near term.

Recommendations by: Ravi Singh of ShareIndia

Tech Mahindra | Buy | Stop loss: Rs 1,595 | Price target: Rs 1,640

Thyrocare | Buy | Stop loss: Rs 1,190 | Price target: Rs 1,240

Recommendations by: Ravi Singhal of GCL Securities

Birla Soft | Buy | Stop loss: Rs 466 | Price target: Rs 500

(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.)