Stocks to buy on Monday: Shriram Finance, Vodafone Idea, Paytm, Max Healthcare, Biocon

Stocks To Buy Tomorrow, On Monday (December 22): The Nifty 50 index broke its four-session losing streak on Friday and managed to reclaim levels above its 20-day exponential moving average (DEMA). The index gained 150.85 points or 0.58 per cent to end at 25,966.40. The 30-share BSE Sensex jumped 447.55 points or 0.53 per cent to finish the week's last trading session at 84,929.36.

On a weekly basis, the Nifty index fell by 80.55 points or 0.30 per cent, while the BSE benchmark declined by 338.3 points or 0.39 per cent.

Commenting on how Nifty could perform next week, Laxmikant Shukla, Senior Technical Analyst at YES Securities, said that Nifty is currently in a sideways consolidation phase. For the last two weeks, the market is stuck in the range of 20 and 50-50-day Simple Moving Average (SMA). 26,050 to 26,100 is a resistance zone for Nifty and we have seen rejection from this range of multiple occasions.

"In the near term, Nifty could remain in a consolidation phase. Bulls need to cross 26,100 decisively and hold above this level to resume the next leg of rally. Above 26,100, Nifty could move towards the range of 26,300 to 26,500," the market expert said.

"If Nifty faces rejection once again at 26,100, we may see a fresh selling and Nifty could retest its 50-day SMA which is around 25,700. In the current set up, 25,700 is a strong support for Nifty," the analyst added.

Meanwhile, ET NOW panelists and market experts have shared their insights on trading opportunities in the current market. The top picks include Shriram Finance, Tata Communications, Apollo Tyres, Max Healthcare, Paytm, Bharat Forge and Vodafone Idea. Let's take a look at the commentary and target prices below:

Shriram Finance Share Price Target

Pradip Halder, Founder & CEO of PHD Capital, has recommended buying Shriram Finance shares. He said that the recent news surrounding MUFG's investment will drive the stock towards the target of Rs 940 in the very short term. The analyst had initiated a buy call on Shriram Finance around Rs 850 levels last week. CMP: Rs 905.10 on NSE

Tata Communications Share Price Target

Gaurav Sharma, Associate VP & Head of Research at Globe Capital, said that Tata Communications shares are in the spotlight after a long time. Tata Communications is looking very strong from the risk to reward ratio perspective at current levels. The Tata stock is currently placed near the support of Rs 1800. My recommendation is to buy Tata Communications shares for a target price of Rs 1900. Maintain stop loss at Rs 1775. CMP: Rs 1,810 on NSE

Apollo Tyres Share Price Target

Apollo Tyres is a multinational tyre manufacturing company. Gaurav Sharma said that it could be a good play from the auto sector. Apollo Tyres shares have staged a recovery from the support levels and it could show a move of 5-6 per cent. My target price on Apollo Tyres is Rs 540. Maintain stop loss at Rs 494. CMP: Rs 510 on NSE

Tata Elxsi Share Price Target

Pradip Halder said that Tata Elxsi shares on Friday rallied 7-8 per cent, but my conviction is still weak. Tata Elxsi can be a good pick for the medium term. My recommendation is to buy only if you can wait for 2-3 quarters, not for 1-2 weeks. Tata Elxsi can show the levels of Rs 6200-6400 in the next two quarters. Maintain stop loss at Rs 5,150. CMP: Rs 5,410 on NSE

Gaurav Sharma said that Max Healthcare shares have shown a very good recovery in the last two trading sessions. Going forward, my view is that Max Healthcare can stay in uptrend for now. The bias is on the buy side for a target of Rs 1120. CMP: Rs 1,076 on NSE

Gaurav Sharma said that Paytm shares are looking very strong. The stock has potential to show good moves in the short term. My recommendation is to buy Paytm shares for a target of Rs 1450 in 1-2 weeks. Maintain stop loss at Rs 1250. CMP: Rs 1,334.80 on NSE

Biocon Share Price Target

Rajesh Palviya, Senior Vice President of Technical & Derivatives Research at Axis Securities, has recommended buying Biocon shares for a short term. He said that every dip should be seen as an opportunity to add more. We are seeing a breakout from a falling trendline in Biocon. Biocon can move towards the next target of Rs 420 in the near term. CMP: Rs 397.90 on NSE

Bharat Forge Share Price Target

Rajesh Palviya has also recommended buying Bharat Forge shares from a trading perspective. He has set a target price of Rs 1480 on the counter. Maintain stop loss at Rs 1415. CMP: Rs 1,442 on NSE

Vodafone Idea Share Price Target

Rajesh Palviya said that a revival of buying interest is seen in Vodafone Idea. The chart of Vodafone Idea is looking very promising. The daily chart of Vodafone Idea is showing a rounding bottom pattern which signals a bullish reversal. On the weekly chart, Vodafone Idea is showing higher highs and higher lows formation for the third straight week. Definitely a fresh buying interest is visible in Vodafone Idea on the lower levels. As long as Vodafone Idea is able to defend the levels of Rs 11.20-11.25, my view is that the currently uptrend could continue and the stock can show the levels of Rs 13.50 to Rs 14 very soon. CMP: Rs 11.95 on NSE

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)