5 Stocks to Buy Today: October 7, 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 October 7

1. Tata Chemicals (TATACHEM)

Tata Chemicals Stock Details for Today: 

- Current Market Price: Rs.963

- Stop Loss: Rs. 942

- Target 1: Rs. 981

- Target 2: Rs. 1,010

- Holding Period: One week

5paisa Recommendation: Our technical experts see end in sideways move of the stock hence making this stock best stock to buy.

2. Tata Elxsi (TATAELXSI)

Tata Elxsi Stock Details for Today: 

- Current Market Price: Rs. 6,164

- Stop Loss: Rs. 6,060

- Target 1: Rs. 6,270

- Target 2: Rs. 6,400

- Holding Period: 1 week

5paisa Recommendation: Our technical experts expects further buying in the stock and recommends buying this stock.

3. Radico Khaitan (RADICO)

Radico Khaitan Stock Details for Today: 

- Current Market Price: Rs. 948

- Stop Loss: Rs. 925

- Target 1: Rs.972

- Target 2: Rs. 1,000

- Holding Period: 1 week

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

4. Uflex Ltd (UFLEX)

Uflex Ltd Stock Details for Today: 

- Current Market Price: Rs. 566

- Stop Loss: Rs. 552

- Target 1: Rs. 580

- Target 2: Rs. 595

- Holding Period: 1 week

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

5. Housing Development (HDFC)

Housing Development Stock Details for Today: 

- Current Market Price: Rs. 2,751

- Stop Loss: Rs. 2,695

- Target 1: Rs. 2,810

- Target 1: Rs. 2,834

- Holding Period: 1 week

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

Share Market Today

SGX NIFTY: 

SGX Nifty indicates positive opening for Indian markets.SGX Nifty is at 17,769.50 levels, higher 158.50 points. (Updated at 7:38 AM).

International Markets:

US Market: US markets bounce back from days' low to close higher by 100 points after being down over 400 points in early trade.

Nasdaq leads the rebound with intraday swings of over 250 points before closing higher by 68 points.

This is as global markets factor in higher inflation as bond yields spike to a 6-month high. US jobs data allays fear overgrowth as numbers beat all estimates.

Asian Market: Asian markets opened in the green led by the Japanese ‘Nikkei' which was up over 300 points in early trade as metals led the rebound with US data showing growth prospects better than estimated.

Taiwan and South Korea also led the rebound as most Asian markets had oversold & due for a sharp comeback. 

With US$ index now hitting key resistance the chances of fall will see investors buying interest return to Asian equities.

Disclaimer: The above report is compiled from information available on the public platforms.