Bulls run out of steam: Swing calls that can give good returns in near term

MUMBAI: The S&P BSE Sensex pared intraday gains and briefly slipped in the red as bulls ran out of steam after the index hit 52—week. According to analysts, the market may hit new highs in the near term but may not be able to sustain the momentum.

At 01:50 p.m.; the 30-share index was at 20,718.09, up 12.23 points or 0.06 per cent. It touched a high of 21,039.42 and a low of 20,718.09 in trade today.

The S&P BSE Midcap Index was up 0.43 per cent.

Following are short term trading recommendations from Ashwani Gujral, Fund Manager, ashwanigujral.com, which can give good returns in the short term:

Buy Shanti Gears with a stop loss of Rs 55 for a target of Rs 66

Buy Info Edge with a stop loss of Rs 365 for a target of Rs 450

Buy BF Utilities with a stop loss of Rs 188 for a target of Rs 203

Buy Jindal Stainless with a stop loss of Rs 37 for a target of Rs 48

Buy JSW Holding with a stop loss of Rs 510 for a target of Rs 560



Note: The stocks recommended should be held for a period of 2-3 sessions with strict stoploss. If they don’t move in the mentioned time-frame, traders are advised to book profits.



Disclaimer: The above recommendations are based on technical views and information given by the analyst. Please consult your financial advisor before taking any position in the stocks mentioned.