Top Stocks to Buy on Monday – Power Grid, Poddar Pigments, Sterling Tools are shares for BIG GAINS; Analyst Sandeep Jain gives details

Market Expert Sandeep Jain said that there was a lot of action on Friday and most indices manged to make their intraday highs. He said that the party for mid cap and small cap stocks is still ongoing. He said that real estate sector stocks are doing well and so are the brokerage firms and metal stocks. He said that there will be stock specific action when the markets reopen on Monday. He said that Nifty could even touch 16000 over the next week.

Stock Markets on Friday offered a mixed bag. After attaining the life highs on the intraday basis, the stock markets witnessed profit booking. NSE Nifty 50 slipped from the record highs of 15,962 to end at 15923. The Sensex also registered a record of 53,290 and ended at 53,140. Meanwhile Nifty Bank also ended down by 155 points at 35,751.

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Jain puts his money on the power sector stocks saying that some big news could emerge for this sector going forward.

Stocks to Buy – Power Grid Corporation of India Limited – Jain recommends this stock with a target price of Rs 237 and Rs 240. He puts the stop loss at Rs 230. Power Grid shares ended at Rs 233.50 on the NSE on Monday. They were up by almost 1.3 per cent from the last closing price on Thursday. This was a futures and options (F&O) stock.     

Stocks to Buy – Poddar Pigments – Poddar Pigments – He recommended this stock at current levels and puts a target price at Rs 325-330. This was recommended as a cash market pick.

He puts the stop loss at Rs 190. He said that this segment is one of his favourites.   

Stocks to Buy – Sterling Tools – Another stock picked by him was Sterling Tools which he recommended as his positional term pick. He said that this is a relatively smaller company. This stock ended at RS 204 on the NSE on Friday. He puts the target price at Rs 230-240 with a stop loss at Rs 190.