Amol Athawale, a technical analyst at Kotak Securities, has issued short-term buy recommendations for three Indian stocks, including IT major Infosys and e-commerce retailer Nykaa, citing favorable technical indicators despite a recent market downturn.
The recommendations, aimed at a one-to-two-week trading horizon, suggest that these names are poised for a bullish turnaround even as broader sentiment remains cautious.
The advice comes as the Indian stock market benchmark Nifty 50 suffered a sharp correction, closing 516 points, or 2.
Athawale’s selection also includes NBCC, pointing to specific chart patterns that signal potential near-term upside for traders looking to capitalize on the volatility.
The advice comes as the Indian stock market benchmark Nifty 50 suffered a sharp correction, closing 516 points, or 2.12%, lower at 23,882.
The BSE Sensex mirrored the decline, posting a significant loss that underscores the prevailing risk-off mood among investors.
While the broader index faces pressure, Athawale’s analysis highlights pockets of strength where technical setups remain intact, suggesting that selective buying opportunities may exist for short-term traders willing to navigate the choppy waters.