Mumbai: Even as the stock market indices BSE Sensex, NSE Nifty tumbling, IIFL Securities on November 4, 2024 backed Bharat Electronic Limited (BEL), Federal Bank, and Ramco Cements Limited to gain in the short term. The brokerage said the mentioned stocks have the potential to rise in 2-3 days. It also gave a share price target and Stop Loss for the counters.
The brokerage firm said the Nifty is likely to find support at around 24140 while 24500 is likely to act as the resistance level. Bank Nifty is likely to find support at around 51250 while 52100 is likely to act as resistance level on the upside.
BEL share price target
IIFL Securities initiated a Buy rating on BEL saying that the stock can be purchased for a short term, i.e. for 2-3 days as it has the potential to rise. The brokerage suggested buying BEL stock in the range of Rs 287-289 per equity share with a target price of Rs 298. The Stop Loss should be maintained at Rs 280, it advised.
Federal Bank share price target
Maintaining a Buy call on Federal Bank share, the brokerage suggested purchasing the stock at Rs 201-204 apiece. The firm projected the counter to meet the target of Rs 211 in 2-3 days. It advised the stakeholders to position the Stop Loss at Rs 198.
Ramco Cements share price target
Advocating for Ramcocem, IIFL Securities recommended stock market enthusiasts to pump in money to buy shares of the cement company. The brokerage said the scrip can rise to the levels of Rs 885-893 in 2-3 days. The counter can be safeguarded by setting the Stop Loss at Rs 875.
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Stocks to Buy for short term: IIFL Securities on November 4, 2024 said Federal Bank, Ramco Cements Limited and Bharat Electronic Limited (BEL) share price are expected to gain in 2-3 days. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
