Stock Market: Don’t be in a rush, buy after May 23; here are 10 stocks that could return 20-40% in a year

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If you are planning to deploy cash now, wait for some more time as the market will give you ample opportunities to enter at lower valuations, suggest experts.

Nifty hit a fresh record high of 11,856 just last week but failed to hold on to the momentum. The volatility will only pick up as we move closer to the election outcome.

If we look at the rally it is largely in few stocks which are taking the index higher while the small & midcaps continue to struggle which is not a good sign for the bulls.

“Markets during the week traded largely sideways with an upward bias although Nifty went up during the week; but the small and mid-cap indices were still languishing indicating that the market is in no hurry to set a decisive path for themselves yet,” Jimeet Modi, Founder & CEO, SAMCO Securities & StockNote said.

“Open interest is consistently reducing in the futures market given the already elevated levels and the uncertainty on the election outcome. Status quo is expected to be maintained going forward. Therefore, markets are expected to move either 2-3% up or down from the current levels,” he said.

Modi further added that investors must not rush to buy in this indecisive phase and go shopping only after the election results, scheduled to be announced on May 23.

As we inch closer to the election results day (May 23), the Street is factoring in Narendra Modi-led Bharatiya Janata Party's (BJP) win but with a reduced majority as the base case scenario said CLSA's Chief Strategist Christopher Wood in his weekly note 'GREED 

Here is a list of 10 stocks where brokerages initiated coverage for the first time that could give 20-40% return in the next 12 months:

Mastek: Buy| LTP: Rs 481| Target: Rs 623| Upside 30%

Lemon Tree: Buy| LTP: Rs 73.90| Target: Rs 90| Upside 21%

Cera Sanitaryware: Buy| LTP: Rs 2851| Target: Rs 3471| Upside 21%

Kajaria Ceramics: Buy| LTP: Rs 600 | Target: Rs 759| Upside 26%

Somany Ceramics: Buy| LTP: Rs 406| Target: Rs 576| Upside 41%

Amber Enterprises: Buy| LTP: Rs 809| Target: Rs 1050| Upside 29%

Indostar Capital Finance: Buy| LTP: Rs 399| Target: Rs 525| Upside 31%

Orient Electric: Buy| LTP: Rs 166| Target: Rs 210| Upside 26%

Bandhan Bank: Buy| LTP: Rs 598| Target: Rs 763| Upside 27%

Himatsingka Seide: Buy| LTP: Rs 220| Target: Rs 290| Upside 31%

Disclaimer: The views and investment tips expressed by investment experts here are their own and not that of the website or its management. We advise users to check with certified experts before taking any investment decisions.

source:- https://www.moneycontrol.com/news/business/markets/dont-be-in-a-rush-buy-after-may-23-here-are-10-stocks-that-could-return-20-40-in-a-year-3912541.html