The stock market continues to rise. Along with the Sensex, the Nifty (Nifty-50) is also filling up. Bank Nifty has risen 143.35 points on Friday. Analysts believe that there will be a sharp rise in Bank Nifty and Nifty-50 can touch the level of 18,600 in the next three months. ICICI Direct has said in a research note that in the next three months, the Nifty can increase by 800 points to touch the level of 18,600 by the end of the year. On the other hand, Nifty can increase by 1400 points to reach 39,400 points by December 2021.
The brokerage firm says that mainly BFSI, IT, Telecom, Auto, Capital Goods, Realty and Infrastructure sectors will play a role in this growth of Nifty-50. The Nifty-50 is currently in an uptrend and it closed at 17,585 on Friday. However, in the morning it touched the level of 17,800. In September, the Nifty has registered a gain of 3.4 percent or 600 points so far.
NSE Nifty Target – 18,600 Time Period – December, 2021
It has been said in the research note that Nifty can reach 18,600 by December, it was at 14,151 point in April. That is, there can be an increase of 32 percent in it. There can be a correction of 5 to 6 percent till the average of 10 weeks. But it can offer a buying opportunity. In March-April last year, the Nifty had a rally of 32 per cent. At the same time, there was a rally of 35 percent between October 2020 and February 2021.
Bank Nifty Target – 39,400 Time Period – December, 2021
Above three months breakout (34,000-36,300) has been shown in Bank Nifty. It seems that it will continue to rise in the coming days. It looks like it may move up from last year’s all-time high of 37,708 to reach the level of Rs 39,400. The research note recommends buying on the downside. In the coming days, there is an opportunity to buy good stocks of the banking sector.
The sectors and stocks that are expected to grow in the research note of ICICI Direct are as follows-
BFSI: HDFC, Kotak Mahindra Bank, SBI, Canara Bank, Bajaj Finserv, M&M Finance
IT & Telecom: TCS, Tech Mahindra, Reliance Industries Ltd (RIL), Bharti Airtel, Mphasis, LTTS, Firstsource
Consumption: Asian Paints, Titan, Pidilite, Varun Beverages, Dixon Technologies, Havells, Trent
Auto: Tata Motors, Ashok Leyland, Escorts, Balkrishna Industries, Minda Industries
Capital goods: L&T, Siemens, HAL, BEL, Grindwell Norton
Metals: Tata Steel, Hindalco, SAIL, Tata Metaliks, Vardhman Specialty Steel
Infra and Realty: Concor, KNR Consts, Orient Cement, DLF, Brigade Enterprises, Godrej Properties
Healthcare: Divis Laboratories, Cipla, Sun Pharma, Laurus Labs, Abbott India, Fortis Healthcare
Chemicals: Navin Fluorine, Deepak Nitrite, Tata Chemicals, PI Industries, Nocil
Others: Gujarat Gas, Butterfly, Interglobe Aviation, Balrampur Chini, Indocount Industries, Gateway Distriparks
(Article Surabi Jain)
(The stock recommendations given in the story are those of the respective research analysts and brokerage firms. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)
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