Stock Picks by Rakesh Bansal: HUL and Indiabulls Housing Finance Recommended for Short-Term Gains

Expert Recommends Two Stocks for Short-Term Investment

In the midst of a choppy trading day, the Indian stock market concluded on a lower note, with Nifty 50 losing 33 points and settling at 19,730 levels, BSE Sensex declining by 187 points to close at 65,794, and Nifty Bank index correcting 577 points to finish at 43,583 levels. While the broad market indices ended slightly positive, finding value picks in the stock market, especially for short-term investors, became challenging.

To address this concern, Rakesh Bansal, Co-founder & Co-partner at Rakesh Bansal Ventures, has identified two stocks for short-term investment: Indiabulls Housing Finance and Hindustan Unilever Ltd (HUL).

Stock Recommendations for Monday:

1. Indiabulls Housing Finance:
   • Buy at Current Market Price (CMP)Target: ₹190Stop Loss: ₹160
   Indiabulls Housing Finance shares, currently priced at ₹190 on NSE, reported a marginal 3% increase in net profit to ₹298 crore in the July to September 2023 quarter compared to the same period last year. The company’s management mentioned ongoing discussions with corporates for investment, serving as a fundamental trigger for the NBFC stock. As the stock recently emerged from the F&O ban list, historical trends suggest potential sharp upside movements. Investors holding Indiabulls Housing Finance shares are advised to maintain a trailing stop loss at ₹160 for a near-term target of ₹300 on NSE. Fresh investors can consider buying at ₹190 with a stop loss at ₹160 for a short-term target of ₹300.
   
2. Hindustan Unilever Ltd (HUL):
   • Buy at ₹2525 to ₹2530Target: ₹2850Stop Loss: ₹2400
   HUL, the first Indian stock to surpass pre-Covid levels during the 2020 market rebound, has been trading sideways for almost a year in the FMCG segment led by ITC shares. The FMCG theme is anticipated to gain momentum in upcoming sessions, particularly as high-interest rates stabilize, and banking stocks are expected to deliver limited returns in the short term. HUL’s positive chart pattern suggests potential sharp upside in the short term, facing resistance at ₹2750. A breach of this level could propel HUL shares to ₹2850 in a very short time span.