Top Stocks to Buy – Amid high market volatility, analyst Sandeep Jain recommends Cipla, Timken India, KEC International for bumper returns

The stock markets on Friday traded with high volatility. The markets opened without much noise and then fell steeply. Nifty 50 had a free fall and touching around levels of 15,450 on the intraday basis which was a crucial level. The previous lifetime was 15,431 and the markets took a support at this level. Market Analyst Sandeep Jain said that last trading session of the week was extremely action packed.

He cautions the investors saying that amid such high volatility investors and traders should exercise restraints. He said that the risks have increased now in the markets. He reiterated his stand on stock selection recommending picking only quality stocks. He said that investors need to be choosy about the counters they pick.

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He said that the correction in the markets may be attributed to the fact that all types of stocks have had a free run recently. He said that the stance of Foreign Institutional Investors have been negative along with global market cues.

He said sectors like FMCG, pharma and IT could do well, going forward.

Top Stocks to Buy – Cipla – Jain picked Cipla futures. This stock was trading around Rs 961 at the time of market closing on Friday. He puts the target price at Rs 975-Rs 980. He puts the stop loss at Rs 955 on the intraday basis.

Top Stocks to Buy – Timken India Limited - This stock is from the cash markets and should be picked for intraday trading, Jain said. Calling this an excellent MNC which is into the business of bearings manufacturing, Jain recommends a buy for the target price between Rs 1420 and Rs 1430. This stock ended around Rs 1383 on Friday. He puts the intraday stop loss at Rs 1360.

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Top Stocks to Buy – KEC International – He picked this stock as his positional term pick. This stock ended around Rs 415 on the NSE on Friday. He puts the target price at Rs 470 while the stop loss at Rs 390.