Stocks to Buy on Monday: Get Asian Paints, JK Tyre, Balaji Amines for top gains, says analyst Sandeep Jain

Stocks to buy: Sandeep Jain picks Asian Pains shares as intraday F&O for Monday. He said that the stocks is placed strongly on charts. It was recommended at levels around Rs 3161 for targets of Rs 3250 and Rs 3270 and stop loss of Rs 3120

Jk Tyre & Industries share was another intraday pick by Jain. This was in the cash segment

Stock to Buy on Monday: Domestic stock markets ended the week, mixed, with benchmark indices BSE Sensex and Nifty50 falling on three occasions. There is high volatility in the markets which is largely range bound, market expert Sandeep Jain tells Zee Business in ‘Bazaar Agle Hafte’. It is unlikely that the Nifty will cross levels of 17600-17700 without big effort.

There is a selling spree from the Foreign Institutional Investors (FIIs) and amid news of a 50 bps rate hike from US Federal Reserve in early May, it is advised not to show exuberance while making positions, the Tradeswift Director said.

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FIIs sold equities worth Rs 2461 cr in the cash market on Friday while the Domestic Institutional Investors (DIIs) bought shares worth over Rs 1600 cr.

His advice to investors is to adhere to strict stop losses and targets must be booked for profit as and when they are achieved.

Stocks to buy:

Jain picks Asian Pains shares as intraday F&O (Futures & Options) for Monday. He said that the stocks is placed strongly on charts. It was recommended at levels around Rs 3161 for targets of Rs 3250 and Rs 3270 and stop loss of Rs 3120.

Jk Tyre & Industries share was another intraday pick by Jain. This was in the cash segment. He said that auto ancillary stocks have been a contrarian bet and are expected to do well going forward. He recommends a buy for target of Rs 140-145 with a stop loss of Rs 127. It was recommended at a price of Rs 132.

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The Tradeswift Director suggested Balaji Amines share as his positional pick for Monday trade. He said that it was one of his favourite stocks in terms of fundamentals and has been recommending it from lower levels. It is strong even now in terms of technicals and fundamentals. The stock ended at 3245 on the NSE. It should be bought for target of Rs 3590-3650 with a stop loss of Rs 3090.

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NSE Markets Stocks to buy JK Tyre & Industries Balaji Amines Asian paints