Swing calls that can give good returns in near term

MUMBAI: The S&P BSE Sensex is witnessing a volatile session on the settlement day of October series. While banks, metals and capital goods were the top sectoral performers, pharmaceuticals, FMCG and auto sectors were down on profit-booking.

According to analysts, the market is likely to remain rangebound with a positive bias and move higher on the back of strong FII inflows after the US Federal Reserve announced plans to continue with easy monetary policy.

At 02:50 p.m.; the 30-share index was at 21,041.20, up 7.23 points or 0.03 per cent. It touched a high of 21,110.99 and a low of 20,991.98 in trade today.

The S&P BSE Midcap Index was up 1.02 per cent and the S&P BSE Smallcap Index gained 0.35 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 Usha Martin with a stop loss of Rs 23 for a target of Rs 30

Buy Torrent Pharma with a stop loss of Rs 415 for a target of Rs 465

Buy Elder Pharma with a stop loss of Rs 305 for a target of Rs 345

Buy Anant Raj a stop loss of Rs 49 for a target of Rs 58

Buy Welspun Corp with a stop loss of Rs 39 for a target of Rs 50



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.