Ashok Leyland, Narayana Hrudayalaya & Paisalo Digital: 3 short-term stock trading ideas

Amid the wild swings of volatility in the Indian stock markets, a couple of brokerage firms have suggested three stocks, including Ashok Leyland Ltd, Paisalo Digital Ltd and Narayana Hrudayalaya Ltd- from a trading point of view. The analyst has suggested to 'buy' all the three counters. Here's what the analyst has to say about these counters:

Narayana Hrudayalaya | Buy | Target Price: Rs 1,600 | Stop Loss: Rs 1,310

Despite the adverse situation in the markets, Narayana Hrudayalaya has been trading near life high. That shows relative strength in the stock. Today the stock has broken out from consolidation. The daily RSI too shows a breakout along with price action. Thus, we advise traders to buy the stock in the range of Rs 1,400-1,440 with a stop loss of Rs 1,310 for an upside target of Rs 1,600.

Recommended by: Mehul J Kothari, Anand Rathi Shares & Stock Brokers

Ashok Leyland | Buy | Target Price: Rs 251-264

Ashok Leyland is on the verge of breaking out from a falling channel on the weekly chart. The stock is consolidating near resistance with significant volume, indicating strong buying interest. A close above Rs 230 could confirm a breakout, with potential upside targets of Rs 251 and Rs 264. Any dip near Rs 217 can be considered a buying opportunity as the stock continues to form higher highs and higher lows. The price has given a crossover of key EMA further confirming bullish momentum on the daily charts.

Recommended by: Sumeet Bagadia, Choice Broking

Paisalo Digital | Buy | Target Price: Rs 50 | Stop Loss: Rs 32

After peaking near Rs 63.74, Paisalo declined about 40 per cent. It recently completed a 1:1 corrective leg near its previous breakout zone, aligning with the S1 Monthly Floor and S3 Monthly camarilla support pivots. This confluence of technical support suggests a potential reversal. Based on these factors, a long position is recommended in the 37-39 zone. The target is set at 50, capitalizing on the potential rebound, while the stop-loss is placed at Rs 32on a closing basis to manage downside risk. This strategic setup leverages the strong support zones and aims for a favorable risk-reward ratio.

Recommended by: Jigar S Patel, Anand Rathi Shares & Stock Brokers