- Budget 2022: Will there be more farm loan waivers or enhance in 80C limit in taxation? Here are expectations from 12 sectors
- Budget 2022 Expectations: Industry body CPAI urges Government to abolish CTT; tax has led to significant commodity volume erosio
- COVID-19 dented consumer confidence; average household income fell over 50% in March-July 2020, says RBI bulletin
- PM Narendra Modi's address at WEF's online event: Highlights - What all he said -Top statements
- Tata Motors drives in Safari Dark edition at Rs 19.05 lakh; check exterior, interior, colour, features and other details
Stocks to Buy on Wednesday – Analyst picks 3 stocks for top gains – HPCL, GAIL, Torrent Power
Even as Nifty50 fell 0.6 per cent to end at 17,748.60 on Tuesday, Nifty Oil & Gas index ended at 7726, up 1.3 per cent. It was one of the three sectoral indices to close in the green. Oil and gas sector will remain in focus in the near to immediate term, technical analyst Nilesh Jain said
Even as Nifty50 fell 0.6 per cent to end at 17,748.60 on Tuesday, Nifty Oil & Gas index ended at 7726, up 1.3 per cent. It was one of the three sectoral indices to close in the green. Oil and gas sector will remain in focus in the near to immediate term, technical analyst Nilesh Jain said.
Jain, who is Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking also picked a stock from power sector that investors must watch out for.
See Zee Business Live TV Streaming Below:
He picked two stocks from this sector – Hindustan Petroleum Corporation Limited (HPCL) and GAIL (India) Limited as buys on Tuesday.
The technical analyst recommends HPCL for a target price of Rs 300 while a stop loss at Rs 286.
The stock ended at Rs 593 on Tuesday on the NSE, up 5.6 per cent from the last closing price on Monday.
He recommends GAIL for a price target of Rs 168 and a stop loss of Rs 155.50. This stock ended at Rs 159.30 on the NSE on Tuesday, up over 3 per cent from the Monday closing price.
Out of the 15 sectoral indices, 12 indices closed in the green.
He also picked a stock from the power sector and this stock is Torrent Power Limited. The stock ended up 1.8 per cent on Tuesday at Rs 503.90 per equity share.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.