Rechercher dans ce blog

Saturday, April 1, 2023

HDFC Bank, BEL to JSW Steel: Anuj Gupta of IIFL Securities recommends 5 buy or sell stocks for this week | Mint - Mint

Buy or sell stocks: Following strong global sentiments and financial year end buying, Indian stock market broke out upward and ended with strong gains on Friday session. Nifty 50 index ended 279 points higher at 17,359 while BSE Sensex ascended over 1000 points and closed at 58,991 mark. Nifty Bank index finished 698 points north at 40,608 levels. In broad market, small-cap index shot up 1.35 per cent whereas mid-cap index surged to the tune of near one per cent on weekend session. In fact, Indian markets outperformed all other Asian markets on Friday.

Stock market strategy for next week

Anuj Gupta, Vice President — Research at IIFL Securities believes that immediate support for Nifty has now shifted at 17,200 whereas strong support is now placed at 17,050 levels. The IIFL Securities expert said that Nifty and Bank Nifty has given strong breakout after oscillating in a tight range for more than a week. On stocks to buy on Monday, Anuj Gupta recommended five stocks for next week and those five stock picks for next week are HDFC Bank, ICICI Bank, JSW Steel, Federal Bank and BEL.

Here we list out full details in regard to IIFL Securities stock recommendations:

1] HDFC Bank: Shares of the Bank Nifty heavy weight has given trendlyne breakout on chart pattern and it is looking highly positive as well. One can initiate momentum buying in the scrip for weekly target of 1,660 apiece levels maintaining stop loss at 1,574 per share levels.

2] JSW Steel: Shares of the metal major has given breakout after four weeks consolidation. Strong Chinese demand for the base metals and spurt in volume of the stock indicates strong upside in JSW Steel share price in near term. One can buy the scrip at CMP for weekly target of 750 maintaining strict stop loss at 654 apiece levels.

 

3] ICICI Bank: Shares of the banking major is trading at one month high. IT has formed bullish chart structure and gave fresh breakout on Friday session. One can buy ICICI Bank shares on Monday for one week target of 940 apiece. However, one must maintain strict stop loss at 835 levels.

 

4] BEL: Shares of Bharat Electronics Ltd is trading above six week's high and the stock is witnessing spurt in volume as well. After giving breakout on Friday session, BEL share price is expected to go up to 110 levels in one week time. One can initiate momentum buying in the scrip maintaining stop loss at 92 apiece levels.

5] Federal Bank: Shares of this South India headquartered bank has given weekly breakout on chart pattern and strong bias in Nifty Bank Index is supportive for the scrip. One can buy Federal Bank shares at CMP for weekly target of 150 levels. However, one must maintain stop loss at 124 while taking position in this scrip.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.

Take the test
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Adblock test (Why?)


HDFC Bank, BEL to JSW Steel: Anuj Gupta of IIFL Securities recommends 5 buy or sell stocks for this week | Mint - Mint
Read More

No comments:

Post a Comment

Govt’s fiscal consolidation plan to aid private sector, boost capex revival - Moneycontrol

Finance Minister Nirmala Sitharaman The 2024 Interim budget is based on the robust framework of “Viksit Bharat by 2047.” Driving this gr...