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Once Nifty surpasses 12,300 resistance zones, it can march towards 12,500 and subsequently towards 12,600 levels which are near the rising trend line and upper band of Bollinger Band
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Foram Parekh of Indiabulls Ventures feels that earnings recovery will continue in H2FY19 but at a slower pace
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HDFC Securities has selected the stock on two criteria – capital preservation (for now) and alpha generation (for later).
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Despite the current correction, the Nifty50 is still up 8.6 percent and the Sensex 11.3 percent year-to-date, which indicated that the market has been managing to climb all wall of worries very easily, experts said.
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After a six-week run-up, we are expecting that Nifty will consolidate at this level and quality mid-caps and small-caps will rally. They have been lagging behind with respect to the big names
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Angel remains overweight on discretionary consumption theme with stocks like Safari Industries, Bata, Blue Star and Parag Milk Foods.
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Traders can accumulate the stock in the range of Rs 345-350 for the target of Rs 392 and a stop loss below Rs 329, says Achin Goel of Bonanza Portfolio.
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“The trend is expected to remain positive till Nifty holds above its recent lowest closing point which is pegged at 10,767,” says Achin Goel of Bonanza Portfolio
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Mitessh Thakkar of mitesshthakkar.com recommends buying Page industries with a stop loss of Rs 24900 and target of Rs 27000 and Marico around Rs 335 with stop loss of Rs 327 and target of Rs 351.
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On the technical front, 10,650-10,600 spot levels should act as a strong support area for Nifty spot with the current trend likely to continue towards 10,800-10,850 levels.
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Rajesh Agarwal of AUM Capital recommends buying Indian Oil Corporation with stop loss at Rs 162 and target at Rs 173, a buy in Arvind with stop loss at Rs 412 and target at Rs 430 and a buy also in State Bank of India with stop loss at Rs 245 and target at Rs 257.
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"We have a buy recommendation with a target price of Rs 350, an upside of 22 percent from the current level," says Sumit Bilgaiyan, Founder of Equity99.
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"We like Parag Milk Foods and expect a target of Rs 350 by year end. Long term investors can also have a slice in this company as it’s a robust play on Indian dairy industry," says Akash Jain, Vice-president, Equity Research at Ajcon Global Services.
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As we are near the fag end of the earnings season and most of major corporate earnings already priced in, and no major event lined up in the offing, the market is likely to take cues from globe, according to experts.
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According to Sudarshan Sukhani of s2analytics.com, one may buy Parag Milk, Prabhat Dairy and Hexaware.
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Edelweiss has maintained its buy call on Prabhat Dairy with a target price of Rs 211 per share, implying 32 percent potential upside over its Monday's closing price.
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SIS, HPCL and Heritage Foods, among others, being tracked by analysts on Tuesday.
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The Nifty50 rose nearly 1600 points in Samvat 2073 and expectations are that it could witness some profit booking in the near term. However, the long-term trend remains intact and the index is poised to hit 10,500-11,000 in Samvat 2074.
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Moneycontrol analyzed the fundamental parameters of some of India’s most renowned dairy companies over a five-year period to determine the best performers across a series of financial variables.
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The approach of investing towards small to midcap in a scenario where the market is trading at record highs should be based on core fundamentals and not momentum in the stocks.
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Mehraboon Irani of Nirmal Bang Securities has a positive view on HDFC Bank and IndusInd Bank.
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Avinash Gorakshakar, Market Expert is of the view that one may buy Heritage Foods on dips.
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Prakash Gaba, Technical Analyst at prakashgaba.com is of the view that one may remain invested in Parag Milk Foods.
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According to Vijay Chopra of enochventures.com, one may hold Parag Milk Foods.
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SP Tulsian of sptulsian.com talks about the fundamentals of companies like Tata Motors, SBI, PVR, Bombay Dyeing and Reliance Communication.
