The market message at the start of the week was clear that it wants to go up and the bulls were in complete charge of the rally. Individual stocks rallied.The market has ended at a new 52-week high. The Nifty closed above 8700, for first time since April 16, 2015. The 50-share index was up 28 points at 8711. The Sensex was up 104 points at 28182.57.
Technical expert Sudarshan Sukhani of s2analytics.com in an interview to CNBC-TV18 said it is very important to now focus on the midcaps because even if the market keeps moving up, it will be a slow rally.
In the same interview, SP Tulsian, sptulsian.com, Mayuresh Joshi of Angle Broking, Varun Goel, Motilal Oswal AMC spoke on individual stocks that have reported earnings and some of their top bets.
Tulsian, despite strong numbers from Britannia Industries is not so positive on it from here on. However, even though Wockhardt saw around 10 percent correction on back of third plant getting US Food and Drugs Administration (FDA) import alert. The US regulator has issued an import alert on Ankleshwar plant for violating good manufacturing practices.
He said even of the facilities gets a relief from USDFA going forward, it would be positive for the stock. So investors with a 4-6 week horizon should look at the stock. Tulsian is also very upbeat on Muthoot Finance and Manappuram Finance but negative on Cummins.
Mayuresh Joshi likes Colgate.
Meanwhile, Goel likes the oil marketing companies like HPCL, BPCL etc and expects good volumes growth rate for them.
For their entire discussion on individual stocks
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