Sharekhan recommends buying GAIL, ONGC, MGL, 2 more energy stocks; check out targets and stop losses
According to brokerage Sharekhan, there is a good opportunity to earn money in the short term in some stocks on the technical chart amidst the ongoing bull run in the market.
Indian financial markets are closed today due to the Muharram holiday.
On Tuesday (July 16), the Indian stock indexes Sensex and Nifty closed at new highs. The Sensex closed at 80,716.55 points, up 0.1 per cent, while the Nifty finished at 24,613.00 points, up 0.1 per cent. While broad indexes finished modestly higher, most sectoral indices fell.
Sharekhan views on Indian stock market
Meanwhile, according to brokerage Sharekhan, there is a good opportunity to earn money in the short term in some stocks on the technical chart amidst the ongoing bull run in the market.
Buy GAIL, IGL, MGL, Coal India, ONGC for 3-4 weeks
The brokerage has suggested buying five energy stocks. These include GAIL, IGL, MGL, Coal India, ONGC for 3-4 weeks. Let's check their targets and stop losses.
GAIL share price target
There is a 'buy' rating on GAIL stock. The target is Rs 250-261. Stoploss has to be kept at Rs 225. Buy range is Rs 236-240. The share price on July 16, 2024, was Rs 233. This means the share has an upside of up to 12 per cent.
IGL
Sharekhan also suggests buying IGL stock for a target of Rs 568-581. Stoploss has to be kept at Rs 525. The buy range is Rs 530-540. The share price on July 16, 2024, was Rs 540. This means the share has an upside of up to 8 per cent.
Share price target of MGL
There is a 'buy' rating on MGL stock. The target is Rs 1858-1915. Stoploss is to be kept at Rs 1641. The buy range is Rs 1730-1750. The share price on July 16, 2024, was Rs 1736. This means the share has an upside of up to 10 per cent.
Buy Coal India
Sharekhan also suggests buying Coal India stock. Target is Rs 527-545. Stoploss has to be kept at Rs 470. The buy range is rs 495-500. The share price on July 16, 2024, was Rs 512. This means the share has an upside of up to 6 per cent.
Buy ONGC shares
There is a 'buy' rating on ONGC stock. Target is Rs 355-371. Stoploss has to be kept at Rs 295. Buy range is Rs 320-328. The share price on July 16, 2024, was Rs 322. This means the share has an upside of up to 15 per cent.
The views/suggestions/advices expressed here in this article are solely by investment experts. Zee Business suggests its readers consult their investment advisers before making any financial decision.