Top stocks to buy for short term: Market benchmarks, the Sensex and the Nifty 50, surged up to 2% in intraday deals on Thursday, 15 October, due to buying in select blue-chip stocks amid a selloff in global AI stocks and the healthy start of Q2 earnings of India Inc.
According to Amol Athawale, VP - Technical Research, Kotak Neo, 22,500 and 22,450 will continue to act as crucial support levels for the Nifty 50, and as long as the index sustains above these levels, the ongoing pullback may remain intact.
On the upside, a decisive breakout above 22,800 could drive the market toward 23,000. Conversely, a decline below 22,450 would weaken the prevailing uptrend, prompting traders to consider exiting their long positions, said Athawale.
Amol Athawale recommends buying the following three stocks for the next 1-2 weeks:
Athawale highlighted that after the remarkable up move, the stock is taking a breather after many sessions.