The benchmarks of the Indian stock market, the Sensex and the Nifty 50, saw gains of more than 0.5 percent apiece in early trade on Monday, October 14, following a poor close to last week. The advances were led by major banks. With the exception of ICICI Bank, Federal Bank, HDFC Bank, Kotak Mahindra Bank, IndusInd Bank, SBI, and IndusInd Bank, all of these stocks saw increases of more than one percent in the Nifty Bank index.
Expert recommended stocks for short term
Experts note that premium valuations combined with a muted forecast for Q2 results are causing the domestic market to enter a phase of consolidation.Due to recent stimulus measures and low valuations, foreign capital is shifting to the Chinese markets.FIIs are moving into more cheap markets as a result of the recent spike in the US 10-year treasury rate. It was caused by an unanticipated increase in core inflation and continued geopolitical problems.There are the following expert recommended stocks for short term;
Hindustan Unilever limited
After making a good retreat from the ₹3,035 level, the stock appears to have bottomed out close to the ₹2,730 zone. A pullback is suggested to strengthen the bias, and further gain is anticipated. The RSI has shown a bullish trend reversal to suggest a purchase after making a significant correction out of the overbought zone.
Nmdc
The stock recently showed a breakout above the descending channel pattern on the daily chart to strengthen the bias following a brief period of decline.The stock has broken above the significant 50EMA (exponential moving average) of ₹227 with a higher low formation pattern, further solidifying the trend. More gains are anticipated in the next few days.
Bharat Dynamics
Over the past three months, the stock has seen a significant decline from the level of ₹1,794 to consolidate and bottom out in the ₹1,080 zone.In order to improve the bias, it has now signaled a pullback to go past the crucial 200-period MA (moving average) at ₹1,140 levels.The RSI has been circling about the extremely oversold zone for a while, and the chart has a very appealing appearance.It has surged and is continuing to increase. It indicates strength and clearly shows enormous upside potential.
