6 stock recommendations for Tuesday

AB Capital is one of six stocks recommended for trading on Tuesday.

The benchmarks for D-Street Equity started the New Year off on a positive note, with the Sensex rising 327 points to close at 61,168 and the Nifty concluding close to 18,200 on Monday, driven by stocks in the metal, media, and real estate sectors. Investor confidence was boosted by favourable macroeconomic data and a strong trend in European shares. Tata Steel, Tata Motors, ICICI Bank, Mahindra & Mahindra, Reliance Industries, Infosys, NTPC, and Bharti Airtel were the top gainers on the Sensex pack, all rising 5.86%.

A wider range of markets did better, with the Nifty Midcap 100 rising 0.9%.

“After a flat opening, Nifty rose on the first day of the year. Nifty was up 92.2 points, or 0.51%, at 18,197.5 at the time of closure. Due to certain participants still being on vacation, NSE volumes remained on the low side. As a result of a foreign brokerage being optimistic on metals due to the lifting of Covid limits in China, metals stocks increased. Even though the advance decline ratio increased to 2.1:1, the Smallcap index outperformed the Nifty, according to Deepak Jasani, Head of Retail Research at HDFC Securities.

Here are 6 stock recommendations for Tuesday

​AB Capital: Buy | Range: Rs 154-155.5 | Target: Rs 170 | Stop Loss: Rs 145​

SAIL: Buy | Range: Rs 88-89 |Target: Rs 105 | Stop Loss: Rs 79

PFC: Buy at Rs 149 | Stop Loss-Rs 135 | Target price: Rs 180/200

REC: Buy at Rs 120 | Target price: Rs 130/140 | Stop Loss: Rs 110

IDFC: Buy | Target: Rs 92 | Stop Loss: Rs 77

Persistent Systems: Buy | Target: Rs 4,320 | Stop Loss: Rs 3,800