Stocks to buy: List of 20 stocks for profitable trade on February 16

The Indian stock market witnessed a strong pullback on Tuesday after declining by more than 4 per cent in the last two sessions.

The broader Nifty50 swung 3.03% to close near 17,400, while the Sensex gained over 1700 points or 3.08% to end above 58,100 as tensions between Russia-Ukraine eased on Tuesday. Source: PTI

The Indian stock market witnessed a strong pullback on Tuesday after declining by more than 4 per cent in the last two sessions. The broader Nifty50 swung 3.03% to close near 17,400, while the Sensex gained over 1700 points or 3.08% to end above 58,100 as tensions between Russia-Ukraine eased on Tuesday. The recovery in the domestic market was led by auto, banking, IT and FMCG.

Vijay Dhanotiya, Category Lead- HNI Products at CapitalVia Global Research Limited is of the view that while sustaining above 17200 would be the key factor from a short-term perspective, market research suggests, a decisive breakout above the zone of 17400-17450 could open the gate for a movement till 17800.

“We believe investors should utilize this increase in volatility to build positions in quality large-cap and mid-cap stocks as the earning expectations for Indian corporates remain strong,” Neeraj Chadawar, Head - Quantitative Equity Research, Axis Securities, had mentioned in post market commentary on Tuesday.

See Zee Business Live TV Streaming Below:

Asian shares rallied on Wednesday as fears of a Russian invasion of the Ukraine this week dissipated after Moscow indicated it was returning some troops to base from exercises, delivering investors a measure of relief.

Japan`s Nikkei soared 1.9% to rebound from two days of falls, while Australia`s S&P/ASX200 gained half a percent in the early trade. Hong Kong`s Hang Seng Index jumped 1.1% early in the session, and China`s CSI300 Index was up 0.4%.

Earlier on Tuesday, all major Wall Street indices ended in the green. Dow Jones settled with 1.22% gain, Nasdaq Composite closed 2.53% higher, S&P 500 was up 1.58% and Russell 2000 gained 2.76% in Tuesday's closing.

Ahead of the market opening, Zee Business has identified a list of 20 stocks for investors. These stocks have been shortlisted keeping in mind short-term, positional and long-term objectives of investors. The shares have been handpicked by our analysts from cash, F&O and techno segments. Below is the list of stocks for profitable trade on Wednesday.

Varun Dubey Stock Picks

Cash

Buy DFM Foods Target Rs 295 SL RS 280

Futures

Sell Tata Steel FUT Target Rs 1180 SL RS 1230

Options

Buy ICICI Bank 780 CE Target Rs 15 SL RS 10

Tech

Buy Bharat Dynamics Target Rs 485 SL RS 460

Funda

Buy Hi Tech Gears Target Rs 280 Duration 2 Months

Invest