Top Stock Picks for October 8 by Raja Venkatraman
The Indian stock market has shown resilience, with frontline indices, Sensex and Nifty 50, closing higher on 7 October. This marks the fourth consecutive session of gains, reflecting a positive sentiment despite mixed global cues.
Investors are keen to identify lucrative opportunities in this upward trend. Market expert Raja Venkatraman has stepped forward with his top stock picks for 8 October, focusing on metal stocks that could yield good returns. His insights provide a roadmap for investors looking to navigate the current market landscape confidently.
One of his recommended stocks is JSW Energy, a prominent player in the Indian power sector. JSW Energy is dedicated to generating sustainable and affordable power through a comprehensive energy value chain. As market conditions improve, this stock shows potential for significant upward momentum, making it an attractive option for investors.
Another noteworthy pick is HBL Engineering, currently priced at ₹871.15. Venkatraman suggests buying above ₹875 and even on dips to ₹800, with a target price set between ₹1030 and ₹1090. HBL Engineering specializes in providing engineering solutions, including batteries for various sectors. The stock has demonstrated a solid bullish trend, indicating strong upward drive, which bodes well for potential investors.
As the market continues to evolve, it’s essential for investors to keep an eye on market indicators. The Nifty has shown resilience, closing above 25,100, supported by buying in sectors like auto, consumer durables, and energy. The broader market sentiment remains mixed, but there are signs of bullish momentum that could lead to further gains.
Despite the positive outlook, market volatility persists, driven by geopolitical uncertainties and fluctuating global cues. Investors should remain vigilant and consider locking in profits when necessary. Monitoring FII and DII flows can also provide insights into institutional sentiment, helping investors make informed decisions.
In conclusion, Raja Venkatraman’s stock picks for 8 October present promising opportunities for those looking to invest in a dynamic market. Staying informed and agile is crucial as the market navigates through these evolving trends.
