Stocks to Buy Today: March 08 2022 - ONGC, GNFC, Hindalco

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 March 08

1. ONGC (ONGC)

ONGC is involved in the business activities of Support activities for petroleum and natural gas mining. Company’s Total Operating Revenue is Rs.68087.18 Cr. and Equity Capital is Rs.6290.14 Cr. for the Year ended 31/03/2021. Oil And Natural Gas Corporation Ltd. is a Public Limited Listed company incorporated on 23/06/1993 and has its registered office in the State of Delhi, India.

ONGC Share Price Details for Today: 

- Current Market Price: Rs.187

- Stop Loss: Rs.182

- Target 1: Rs.192

- Target 2: Rs.198

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see stock is near support hence making this stock best stock to buy.

2. Hindalco Industries (HINDALCO)

Hindalco Industries is involved in the business activities of Manufacture of aluminium from alumina and by other methods and products of aluminium and alloys. Company’s Total Operating Revenue is Rs.42701.00 Cr. and Equity Capital is Rs.222.00 Cr. for the Year ended 31/03/2021. Hindalco Industries Ltd. is a Public Limited Listed company incorporated on 15/12/1958 and has its registered office in the State of Maharashtra, India.

HINDALCO Share Price Details for Today: 

- Current Market Price: Rs.620

- Stop Loss: Rs.603

- Target 1: Rs.638

- Target 2: Rs.655

- 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.

3. Gujarat Narmada (GNFC)

Gujarat Narmada Valley is involved in the business activities of Manufacture of urea and other organic fertilizers. Company’s Total Operating Revenue is Rs.5128.69 Cr. and Equity Capital is Rs.155.42 Cr. for the Year ended 31/03/2021. Gujarat Narmada Valley Fertilizers & Chemicals Ltd. is a Public Limited Listed company incorporated on 10/05/1976 and has its registered office in the State of Gujarat, India.

GNFC Share Price Details for Today: 

- Current Market Price: Rs.608

- Stop Loss: Rs.592

- Target 1: Rs.625

- Target 2: Rs.642

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see stock is near support hence making this stock best stock to buy.

4. CAN FIN (CANFINHOME)

Can Fin Homes is involved in the business activities of Activities of specialized institutions granting credit for house purchases that also take deposits. Company’s Total Operating Revenue is Rs.2018.14 Cr. and Equity Capital is Rs.26.63 Cr. for the Year ended 31/03/2021. Can Fin Homes Ltd. is a Public Limited Listed company incorporated on 29/10/1987 and has its registered office in the State of Karnataka, India.

CANFINHOME Share Price Details for Today: 

- Current Market Price: Rs.542

- Stop Loss: Rs.527

- Target 1: Rs.557

- Target 2: Rs.578

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see stock is near support hence making this stock best stock to buy.

5. Balrampur Chini (BALRAMCHIN)

Balrampur Chini is involved in the business activities of Distilling, rectifying and blending of spirits; ethyl alcohol production from fermented materials. Company’s Total Operating Revenue is Rs.4811.66 Cr. and Equity Capital is Rs.21.00 Cr. for the Year ended 31/03/2021. Balrampur Chini Mills Ltd. is a Public Limited Listed company incorporated on 14/07/1975 and has its registered office in the State of West Bengal, India.

BALRAMCHIN Share Price Details for Today: 

- Current Market Price: Rs.444

- Stop Loss: Rs.433

- Target 1: Rs.456

- Target 2: Rs.471

- 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.

Share Market Today

SGX Nifty:

SGX Nifty indicates a negative opening for the Indian markets. SGX Nifty is trading at 15,760.50 levels, down 82.50 points. (Updated at 8:30 AM).

International Market

Asian Market:

Asian stocks were trading lower as Ukraine talks made little progress. Japan's benchmark Nikkei 225 is down 0.31% to trade at 25,143.52. Hong Kong's Hang Seng is trading down 0.38% at 20,978.48, while the Shanghai Composite trades down 1.17% at 3,333.34.

US Market:

US stocks closed lower as the prospect of a ban on oil imports from Russia sent crude prices soaring and fueled concerns about rising inflation. The Dow Jones Industrial Average closed down 2.37% at 32,817.38; the S&P 500 closed down 2.95%, at 4,201.09; and the Nasdaq Composite closed down 3.62% at 12,830.96.

Also read: List of Top 10 Penny Stocks: These Shares Gained Up To 10.0% on Monday, March 07