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The key support levels to watch out for in the short-term are 14,635 (weekly low), followed by 14,297 (61.8 percent retracement level of the rise from 13,596-15,431).
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LIC Housing Finance is the fresh addition in its portfolio as it is a value play (1.0x PBV) supported by pick up in home loan demand, and builder NPL resolutions
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We have been hovering in the overbought territory for the last 2-3 weeks, but sometimes the market does not respect the theory and hence, it can remain overbought for a long time as well.
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One should always avoid investing in bad quality businesses because as is said a rising tide lifts all the boats but the end outcome is always bad in investing if one ignores the quality aspect, Shailendra Kumar of Narnolia advised.
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A clear picture of how the coronavirus outbreak has hit the banking sector will emerge only after some quarters once the Reserve Bank of India's support wounds up, analysts say.
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Today the bank is valued at Rs 6.7 lakh crore in terms market capitalisation, which increased from just Rs 440 crore in 1995.
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The bank will continue on the growth path, as Jagdishan has been with HDFC since 1996 and has played an integral role in shaping the private lender, say experts.
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The worldwide concerns over the COVID-19, September expiry rollovers and growth worries kept the domestic market under pressure.
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While the market has rallied smartly, the rally has been highly concentrated with the top 15 stocks contributing over 70 percent of the returns.
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Infosys fired almost on all cylinders in June quarter earnings, which gave confidence to investors and as a result six out of 10 fund houses raised exposure to the stock last month.
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According to Prashanth Tapse, Surya Roshni, APL Apollo Tubes, Jindal Saw may benefit. Read on to find out which stocks other experts picked
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India's stock market remains one of the most promising emerging markets of the world with tremendous growth potential as several structural reforms initiated by the Narendra Modi-led government assures that tomorrow belongs to India.
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In muted earnings expectations for Q1FY21, beats were much higher than misses and that was one of major reasons and confidence booster for equity market not only in India but globally.
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Given that India will remain a growth market in the long-term one cannot neglect growth stocks for a prolonged period of time, Jyoti Roy advised.
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Citi has a buy rating on HDFC Bank with a target of Rs 1,350 per share, implying 30 percent potential upside from current levels.
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We would advise to buy Bank Nifty on some dips towards 21,300 for targets of 21,750-21,800.
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SBI's economists say the surge in equity markets is not linked to economic recovery and maybe a sign of irrational exuberance.
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As fundamentals will take time to turn positive, investors should stick to quality largecaps rather than midcaps or smallcaps.
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Macquarie believes worries about large-scale retail defaults are exaggerated.
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Largecaps or sector leaders are the safest bet during a crisis because the recovery momentum generally reflects first in these stocks, say experts.
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Aashish Somaiyaa of Motilal Oswal Asset Management Company advised that one should avoid panic and remain invested.
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VIX staying below 35 level will be support for the market and any up move will cap the upside to keep the market range bound.
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Experts continue to warn that the market will keep oscillating between rise and fall and one must remain cautious while taking a call for trade.
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Nifty breaking down below 8,900 will trigger fresh selling and that can push Nifty towards 8,500 mark.
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Key risk to the thesis is the protracted income loss to household savings, ICICI Securities said.
