Nifty saw a rise for the sixth consecutive day. Nifty crossed 18500 by making a new peak. Bank Nifty also saw a rise today. BANK NIFTY also reached near 40000 today. Bank Nifty did OUT PERFORM today, while the party continued in Midcap INDEX as well.
Gautam Shah, Founder, Goldilocks Premium Research, spoke exclusively to CNBC-Awaaz amid the Nifty’s rally. During this, he gave his opinion on the bullishness of the market, along with that he gave his favorite sectors and also presented some favorite picks for the long term.
Gautam Shah, Founder, Goldilocks Premium Research said that The market is showing steady growth. Anyone who has invested in this bullish trend has benefited. We also caught the trend in Goldilocks and invested in the sector showing bullishness and momentum, due to which it is seen to be profitable.
Continuing momentum will continue even further
Gautam said that the market has continued to rise for the last about 6 months. It is expected to continue to accelerate. Most of the sectors in the market are doing well. Nifty is showing steady gains and no major decline has been seen. India’s geopolitical environment is also good, global factors are also favorable and there is no dearth of liquidity in the market so still bull run is expected to continue in the Indian markets.
Nifty chart overbought but Nifty components will make money
Shah said that today Nifty touched the figure of 18300 after continuous uptrend. According to me, the chart of Nifty looks overbought at the moment, but its components are still strong. Its components such as banking stocks, FMCG, IT stocks, metal stocks can see further upside.
Financial stocks can further boost the market’s rally: Moneycontrol Market Sentiment Survey
Trade carefully while avoiding carry away at this level in the market
It has a resistance level at 18600, from where the market can see a correction. Anyway, there is a need to be cautious even in the stocks which have run out a lot. Overall, there should not be a carried away at this level. So you should choose good stocks. Anyway, if the banking stocks do well, then there is a boom in the market, the example of which we are seeing from the last 7 days.
Hold positions in good and leader stocks
Giving his opinion on whether we should book profits in the bull market, Gautam said that if we withdraw our money at this time, then where will we invest because there is a boom in the market in more or less all sectors. Hence we are recommending to stay in the best and market leader stocks. So, if you want to make money, then the segments or stocks that have underperformed so far but are good stocks, then you should focus on that.
This stock gave a return of 4130% in one year, Rs 1 lakh made 42 lakh rupees in just 1 year
Favorite Stocks of Gautam Shah, Founder, Goldilocks Premium Research
During this conversation, Gautam Shah also told his favorite stocks, which can rise further. in their favorite stocks ICICI BANK, JSPL, JSW ENERGY, SAIL, DLF, ITC, ADANI ENTERPRISE, DABUR, SUN PHARMA, ADANDI PORTS, LT, INDIABULLS REAL, DELTA CORP, EID PARRY, SBI, CANARA BANK, BEL, PFC, REC, HDLFC Are included.
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