Smallcaps that can give sharp returns in near term

MUMBAI: The S&P BSE pared most of the intraday gains as traders booked profits after the benchmarks breached psychological resistance levels. The market is expected to remain choppy in the near term as global investors will take a break ahead of Christmas and New Year.

At 01:40 p.m.; the 30-share index was at 21,130.97, up 51.25 points or 0.24 per cent. It touched a high of 21,207.89 and a low of 21,080.54 in trade today.

The S&P BSE Midcap Index was up 1.24 per cent and the S&P BSE Smallcap Index gained 1.02 per cent.

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

- Buy Welspun Corp with a stop loss of Rs 44 for target of Rs 58

- Buy Jindal Saw with a stop loss of Rs 46 for target of Rs 58

- Buy United Breweries Holding with a stop loss of Rs 24 for target of Rs 30

- Buy Prakash Industries with a stop loss of Rs 42 for target of Rs 51

- Buy Mahindra and Mahindra Finance with a stop loss of Rs 330 for target of Rs 352

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.