Religare Broking analyst Ajit Mishra has recommended Biocon, Mahindra, and United Spirits as short-term buy candidates, citing favorable technical setups that suggest upward momentum over the next one to two weeks.
The recommendations come as the Indian stock market extended its losing streak for a fourth consecutive session, pressured by rising crude oil prices and persistent geopolitical concerns.
Mishra’s latest picks add to a series of short-term trading ideas from the broker.
In recent coverage, Mishra had identified Bharat Heavy Electricals, Central Depository Services, and Divi’s Laboratories as short-term buy candidates with specific target prices. The current selection of Biocon, Mahindra, and United Spirits reflects a shift in technical favorability within the broader market context.
The Nifty 50 benchmark has faced headwinds from elevated energy costs and geopolitical uncertainty, creating a volatile environment for equity investors.
Despite the broader market weakness, Mishra argues that these three stocks present distinct opportunities for short-term gains based on their current chart patterns and price action.