2 Best Intraday Stocks For Tomorrow
Are you looking for Best Intraday Stocks For Tomorrow? Alright, Let’s discuss about Polycab and 2 other intraday stocks.
1) Polycab
Polycab share Prediction For Tomorrow: First Stock in our list of Best Intraday Stocks For Tomorrow is Polycab.
Polycab India Ltd., a leading manufacturer of wires and cables, has seen its stock price climb recently. As of May 8th, 2024, it’s closed at ₹5,921.55, up 1.94% from the day’s opening. This positive movement might be fueled by factors like:
Strong Market Position: Polycab enjoys a dominant market share in India’s wires and cables segment.
Financial Performance: The company boasts healthy return on equity (ROE) and return on capital employed (ROCE) ratios, indicating efficient use of capital.
Growth Potential: India’s infrastructure development and increasing focus on electrification are expected to benefit Polycab.
Here’s a quick summary:
Company: Polycab
Current Price: ₹5921.55 (as of May 8th, 2024)
Market Cap: ₹88,956 crore
Recent Performance: Up 81.48% in one year
Segment: Cables
KEY LEVELS:
ENTRY – ABOVE 5950
TARGET – 5980 and 6000
STOP LOSS – 5920
2) Bharat Forge
Bharat Forge share Prediction For Tomorrow: Second Stock in our list of Best Intraday Stocks For Tomorrow is Bharat Forge.
Bharat Forge Ltd., a major player in forging and machining, has seen a surge in its stock price today, May 8th, 2024. As of now, it’s closed at ₹1405.15, a significant 13.32% increase from the opening price. This jump could be due to:
Short-term factors: Positive news or speculation surrounding the company might be driving the current rise.
However, some long-term considerations for Bharat Forge’s stock include:
Defense Sector Reliance: Bharat Forge is heavily reliant on the defense sector, which can be cyclical and dependent on government contracts.
Valuation: The current PE ratio suggests the stock might be priced above its perceived long-term earnings potential.
Debt Levels: The company’s debt levels could limit its future growth potential.
Here’s a quick summary:
Company: Bharat Forge
Current Price: ₹1405.15 (as of May 8, 2024)
Market Cap: ₹65,422 crore
Segment: Metals
Recent Performance: 80.54% Up in one year.
KEY LEVELS:
ENTRY – ABOVE 1475
TARGET – 1490 and 1500
STOP LOSS – 1460
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