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

Stock Market: Nifty to trade in 11,500-11,800 range; prefer these 4 stocks for 7-11% upside

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On the weekly chart, Nifty has formed a bearish candle similar to Hammer followed by Doji candle to the previous week. Since the last six days, Nifty is trading in the range of 11,700-11,550 indicates consolidation in the near term. Nifty is holding its 20 and 50 DMA which indicates index holding bullishness on short term chart.

The chart pattern suggests that if Nifty crosses and sustains above 11,680 level, it would witness buying which would lead the index towards 11,730-11,760 levels. However, if the index breaks below 11,550 level, it would witness profit booking which would take the index towards 11,500-11,470.

Nifty has the highest PE the concentration at 11,500 followed by 11,600 which may act as support for current expiry.

Nifty Call strike 12,000 followed by 11,800 witnessed significant OI concentrations and may act as resistance for current expiry.

 If Nifty manages to cross above 11,760, then short covering action can be seen in market and Index may scale up towards 11,850-11,900.

The weekly and daily strength indicator RSI and momentum oscillator Stochastic are below their respective reference lines indicating negative bias. We expect Nifty to trade in the range of 11,500-11,800 for the coming week.

Bank Nifty:

On the weekly chart, Bank Nifty has formed a small bearish candle with a lower high compared to the previous week indicating losing strength. Since the last 5-6 days, Bank Nifty is trading in the range of 29,650-30,100 indicates sideways momentum.

Bank Nifty has the highest PE the concentration at 29,500 followed by 29,800 while Bank Nifty Call Strike 30,000 followed by 30,200 witnessed significant OI concentration and may act as resistance in the coming days.

Chart pattern suggests if Bank Nifty breaks below 29,700 then we may witness more profit booking which could drag it towards 29,500-29,400 in the short term, while above 30,200, we may witness short covering action which could take it towards 30,500-30,700 on the higher side.

The weekly and daily strength indicators are in positive territory while momentum indicators stochastic has given a negative crossover to its reference line, indicating some profit booking or consolidation in the near term. We expect Bank Nifty is expected to trade in the range of 29,500-30,100 in the coming week.

Here are the four stocks which could give 7-11 percent return:

Ashok Leyland | Buying Range: Rs 96-94 | Stoploss: Rs 90 | Target: Rs 103-106 | Upside: 11 percent

BHEL | Buying Range: Rs 77-76 | Stoploss: Rs 72 | Target: Rs 84-86 | Upside: 11 percent

ITC | Buying Range: Rs 307-304 | Stoploss: Rs 299 | Target: Rs 324-328 | Upside: 7 percent

Tata Motors DVR | Buying Range: Rs 103-100 | Stoploss: Rs 95 | Target: Rs 110-113 | Upside: 9 percent

source:- https://www.moneycontrol.com/news/business/markets/nifty-to-trade-in-11500-11800-range-prefer-these-4-stocks-for-7-11-upside-3820101.html

Share Market: Sensex ends 160 pts higher, Nifty around 11,650; ITC gains 3%

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Market at close: The benchmark indices ended higher on Friday with Nifty ended above 11,600 level.

At the close, the Sensex was up 160.10 points at 38767.11, while Nifty was up 46.80 points at 11,643.50.  About 1355 shares have advanced, 1138 shares declined, and 153 shares are unchanged. 

Shares of IT major, Tata Consultancy Services (TCS) and Infosys ended flat ahead of their March quarter earnings to be released later today.

GAIL, ITC, Maruti Suzuki, Cipla, and Zee Entertainment were among major top gainers on the Nifty, while losers were Indiabulls Housing Finance, IOC, Bajaj Finance, L&T, and Tata Motors.

Among the sectors, auto and FMCG indices led the gainers with 1 percent gain followed by IT, pharma and bank.

source:- https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-ends-160-pts-higher-nifty-around-11650-itc-gains-3-3812641.html

Stock Market: Sensex ends flat after a rangebound session, Nifty tad below 11,600; Vedanta top loser

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Benchmark indices ended flat after a rangebound session on April 11 as traders remained cautious ahead of TCS & Infosys earnings scheduled to be announced tomorrow.

The 30-share BSE Sensex rose 21.66 points to 38,607.01 and the Nifty50 gained 12.40 points at 11,596.70. The market breadth remained in favor of bears as about 1,325 shares declined against 1,153 advancing shares on the BSE.

Indiabulls Housing Finance, Bajaj Finserv, Bharti Airtel, Bajaj Auto and Dr. Reddy's Labs were gainers while Infosys, TCS, Vedanta, Sun Pharma, Power Grid, Tech Mahindra were losers among Nifty50 stocks.

Manappuram Finance, HDFC Life, ICICI Prudential, Rain Industries, CG Power, Tata Global, Adani Power, and Tata Power were midcap gainers while Reliance Naval, Edelweiss Financial, Jubilant Foodworks, and DLF lost 2-7 percent.

source:- https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-ends-flat-after-a-rangebound-session-nifty-tad-below-11600-vedanta-top-loser-3804091.html

Stock Market: Nifty closes below 11,600, Sensex falls 353 pts; Tata Motors gains 4%

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Market close: Benchmark indices ended near day's low on April 10 with Nifty finished below 11,600 level.

At the close, the Sensex was down 353.87 points at 38585.35, and the Nifty was down 88.40 points at 11,583.60. About 1134 shares have advanced, 1369 shares declined, and 173 shares are unchanged. 

Bharti Airtel, Asian Paints, Hindalco Industries, TCS and UPL were the top losers, while Tata Motors, Wipro, Cipla, HUL and Adani Ports were among major gainers on the Nifty.

Except auto and pharma, all other sectoral indices ended in red led by bank, metal, IT, infra, energy and FMCG.

source:- https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-closes-below-11600-sensex-falls-350-pts-tata-motors-gains-4-3796281.html

Free Stock Tips: Sensex, Nifty trade flat; metal, pharma stocks in focus

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Share Market: It is a weak start for the benchmark indices on Wednesday with Nifty slipped below 11,650 level.

At 09:17 hrs IST, the Sensex is down 60.01 points at 38879.21, while Nifty is down 19.10 points at 11,652.90. About 314 shares have advanced, 431 shares declined, and 38 shares are unchanged.

Wipro, Yes Bank, Cipla, Infosys, ONGC, RIL, HCL Tech, HUL, Tech Mahindra, Bajaj Finance are among major gainers on the indices, while losers include HDFC, HDFC Bank, Hindalco, Hero Motocorp, Grasim, UltraTech Cement, and Gail,

On the sectoral front, auto, infra, metal, pharma, and infra are under pressure, while IT space is trading higher.
source:- https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-nifty-trade-flat-metal-pharma-stocks-in-focus-3796281.html