Closing Bell! Nagaraj Shetti Suggests Asahi India Glass, Swiggy Shares for Short-Term Gains: Do You Own Them?

As the markets wrapped up Thursday’s trading session, investors and analysts alike turned their attention to short-term opportunities amid fluctuating sentiments. Among the noteworthy calls of the day, technical analyst Nagaraj Shetti from HDFC Securities has highlighted Asahi India Glass Ltd (AIS) and Swiggy (Bundl Technologies, unlisted) as top short-term picks.

With market momentum looking cautiously optimistic and select pockets showing resilience, Shetti’s latest picks underscore a shift in focus toward consumer-facing and auto ancillary stocks, as well as the evolving digital economy.

Market Wrap: Indices Hold Gains Amid Sectoral Rotation

The Sensex closed 289 points higher at 77,350, while the Nifty50 added 96 points to end at 23,558, led by gains in banking, auto, and FMCG sectors. The market breadth favored advances, with midcaps and smallcaps also witnessing modest upticks.

"While broader indices remain volatile, select midcap counters and IPO-bound names are showing strength," said Madhavi Shah, fund manager at Axis Securities. "This is the time when disciplined technical entry can deliver quick returns."

Nagaraj Shetti's Short-Term Picks

1. Asahi India Glass (NSE: ASAHIINDIA)

Shetti, known for his chart-based calls, points to Asahi India Glass Ltd as a strong technical breakout candidate.

“The stock has witnessed a bullish inverse head and shoulders breakout on the daily chart, with volumes confirming the trend. We are seeing momentum indicators like RSI and MACD turning positive, signaling strength in the near term,” said Nagaraj Shetti.

Buy Range: ₹570–580
Target Price: ₹620
Stop Loss: ₹550
Time Horizon: 2–4 weeks

The company, which supplies automotive safety and architectural glass, has benefitted from the uptick in passenger vehicle sales and increased real estate construction activity. With India’s focus on EVs and infrastructure, AIS is expected to maintain its growth trajectory.

“Fundamentally, AIS has improved its operating margins and has also benefited from stable input costs in soda ash and energy,” said Anil Rege, an independent market strategist.

2. Swiggy (Unlisted Share)

While Swiggy is not listed on the Indian stock exchanges yet, its unlisted shares are actively traded in the grey market and platforms like Altius Investech and UnlistedZone.

“Swiggy is nearing its IPO phase, and that usually generates speculative interest in pre-IPO shares. The company has improved its financial metrics and narrowed its losses, making it an attractive pick for short-term alpha,” Shetti added.

Current Grey Market Price: ₹330–350 per share
Target: ₹390–400
Time Horizon: 1–2 months

Swiggy’s food delivery and Instamart businesses have reportedly seen double-digit growth in FY24. As per recent reports, Swiggy filed its Draft Red Herring Prospectus (DRHP) earlier this year and may look to raise $1 billion through the IPO.

According to an ICICI Securities note, “Swiggy has not only narrowed its EBITDA losses but also shown scalability in high-frequency use cases like groceries. IPO-bound tech startups tend to outperform in the run-up to listing.”

Investor Sentiment: Tilting Toward Selective Risk

With the broader markets hovering near all-time highs, retail investors are becoming selective in their bets. Swiggy’s IPO enthusiasm, along with AIS’s technical breakout, is drawing short-term capital.

"Retail participation is high in midcap themes, especially those backed by consumption and technology tailwinds," noted Deepak Jasani, Head of Retail Research at HDFC Securities. “But given the global cues, investors need to stay nimble.”

The rally in the auto sector has also lifted sentiment around auto ancillaries like AIS, Motherson Sumi, and Endurance Technologies.

Risks to Watch

Despite technical and speculative tailwinds, both stocks are not without risk:

• Asahi India Glass is subject to raw material price volatility and demand slowdown in auto/real estate sectors.

• Swiggy, being unlisted, carries liquidity and pricing risk in the grey market. The IPO valuation could significantly impact secondary market pricing.

Outlook: Tactical Buys in a Volatile Market

For investors looking to capitalize on short-term movements, Nagaraj Shetti’s picks offer high-reward opportunities backed by strong momentum and upcoming catalysts. However, position sizing and strict stop-loss adherence are essential.

“These are tactical trades, not long-term allocations. With a disciplined approach, investors can benefit from this ongoing stock-specific momentum,” Shetti emphasized.

As the IPO market warms up and technical charts show green shoots, AIS and Swiggy are certainly two names to watch—whether you’re already holding or considering a fresh entry.