5 Stocks to Buy Today: December 16, 2021

Every morning our analysts scan through the markets universe and chose the best momentum stocks to buy today. The stocks are recommended from a wider list of momentum stocks and only the best ones make it to the top 5 list. We also update on the performance of earlier recommendation every morning to help you with your trading journey. Read on to know the momentum stocks to buy today. The average holding period could be between 7-10 days on average.

List of 5 Stocks to Buy Today December 16

1. TORRENT POWER (TORNTPOWER)

Torrent Power Ltd. is involved in the business activities of Electric power generation, transmission and distribution. Company’s Total Operating Revenue is Rs. 11776.52 Cr. and Equity Capital is Rs. 480.62 Cr. for the Year ended 31/03/2021. Torrent Power Ltd. is a Public Limited Listed company incorporated on 29/04/2004 and has its registered office in the State of Gujarat, India.

TORNTPOWER Share Price Details for Today: 

- Current Market Price: Rs. 599

- Stop Loss: Rs. 585

- Target 1: Rs. 615

- Target 2: Rs. 631

- Holding Period: 1 week

5paisa Recommendation: Our technical experts observed positive chart for this stock and hence making this stock best stock to buy.

2. ELGI EQUIPMENTS (ELGIEQUIP)

Elgi Equipments is involved in the business activities of Manufacture of other pumps, compressors, taps and valves. Company’s Total Operating Revenue is Rs. 1100.17 Cr. and Equity Capital is Rs. 31.69 Cr. for the Year ended 31/03/2021. Elgi Equipments Ltd. is a Public Limited Listed company incorporated on 14/03/1960 and has its registered office in the State of Tamil Nadu, India.

ELGIEQUIP Share Price Details for Today: 

- Current Market Price: Rs. 320

- Stop Loss: Rs. 311

- Target 1: Rs. 330

- Target 2: Rs. 343

- Holding Period: 1 week

5paisa Recommendation: Sideways move to end in stock and thus making this stock as one of the best stocks to buy today.

3. EXPLEO SOLUTIONS (EXPLEOSOL)

Expleo Solutions is involved in the business activities of Writing , modifying, testing of computer program to meet the needs of a particular client excluding web-page designing. Company’s Total Operating Revenue is Rs. 300.89 Cr. and Equity Capital is Rs. 10.25 Cr. for the Year ended 31/03/2021. Expleo Solutions Ltd. is a Public Limited Listed company incorporated on 08/06/1998 and has its registered office in the State of Tamil Nadu, India.

EXPLEOSOL Share Price Details for Today: 

- Current Market Price: Rs. 1,697

- Stop Loss: Rs. 1,655

- Target 1: Rs. 1,760

- Target 2: Rs. 1,845

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expects further buying opportunity in this stock and hence making this stock as the best stock to buy today.

4. BAJAJ ELECTRICALS (BAJAJELEC)

Bajaj Electricals is involved in the business activities of Manufacture of electric motors, generators, transformers and electricity distribution and control apparatus. Company’s Total Operating Revenue is Rs. 4573.06 Cr. and Equity Capital is Rs. 22.91 Cr. for the Year ended 31/03/2021. Bajaj Electricals Ltd. is a Public Limited Listed company incorporated on 14/07/1938 and has its registered office in the State of Maharashtra, India.

BAJAJELEC Share Price Details for Today: 

- Current Market Price: Rs. 1,278

- Stop Loss: Rs. 1,245

- Target 1: Rs. 1,315

- Target 2: Rs. 1,370

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see strong volume in this stock hence making this stock best stock to buy.

5. PI INDUSTRIES (PIIND)

PI Industries belongs to the Industry of Agro Chemicals/Pesticides. Company’s Total Operating Revenue is Rs. 4276.20 Cr. and Equity Capital is Rs. 15.20 Cr. for the Year ended 31/03/2021. PI Industries Ltd. is a Public Limited Listed company incorporated on 31/12/1946 and has its registered office in the State of Rajasthan, India.

PIIND Share Price Details for Today: 

- Current Market Price: Rs. 3,088

- Stop Loss: Rs. 3,000

- Target 1: Rs. 3,200

- Target 1: Rs. 3,310

- Holding Period: 1 week

5paisa Recommendation: Recovery on cards in this stock is expected and thus making this stock as one of the best stocks to buy today.
 

Share Market Today

SGX Nifty:

SGX Nifty indicates a positive opening for the Indian markets. SGX Nifty is trading at 17,358.20 levels, up 121 points. (Updated at 8:23 AM).

International Markets:

Asian Market:

Most Asian stocks rose as the US Federal Reserve said that it would end its bond-buying stimulus in March, paving the way for three interest rate hikes next year to combat rising inflation. Japan's benchmark Nikkei 225 up 1.56% to trade at 28,904.25. Hong Kong's Hang Seng is trading down 0.46% at 23,313.29, while the Shanghai Composite trades up 0.39% at 3,661.74.

US Market:

US stocks closed higher after the Federal Reserve said it would end its pandemic-era bond purchases in March. The Dow Jones Industrial Average closed up 1.08% at 35,927.43; the S&P 500 closed up 1.63%, at 4,709.85; and the Nasdaq Composite closed up 2.15%, at 15,565.58.