After the Nifty crossing the level of 18,600 and BSE Sensex crossing the level of 62,000, finally the bulls are now looking at some slack. The effect of which was that the market came in the hands of the bears and before closing with a fall of about 1 percent on a weekly basis, the market had broken from its record high by 3 percent during the last week.
In the week ended October 22, Nifty had lost 223.65 points to close at 18,114.90. At the same time, the BSE Sensex fell 484.33 points to close at 60,821.62. All sectoral indices, except banking, closed in the red this week. Metal, FMCG, Pharma and Realty were the biggest losers, falling around 5 per cent. More selling was seen in the small-medium stocks than the heavyweights, which outperformed the benchmark index in the rally so far. The BSE Midcap had lost over 4 per cent last week, while the Smallcap had lost more than 5 per cent.
Sameet Chavan in Angel One It says that two important indices like Nifty and Bank Nifty are exhibiting complete divergence. In such a situation, it will be very important to see whether the strength of Bank Nifty will give strength to Nifty or not. At present, the market’s eye is focused on banking stocks only. If banking picks up, then the overall mood of the market will look to improve. Sameet Chavan says that 18,060-18,000 will be an important support level for Nifty. At the same time, on the upside, the resistance is visible at 18,260-18,400. On the other hand, if Nifty slips below 18,000, then it can see further decline.
Here we are giving such top picks of veterans who can earn huge money in 3-4 weeks.
Investment Advice by Nagraj Shetty of HDFC Securities
ABB India: Buy | LTP: Rs 1,909.30 | Buy this stock with a stop loss of Rs 1,765 and target Rs 2,110. We can get 10.5% return in 3-4 weeks.
Triveni Turbine: Buy | LTP: Rs 179 | Buy this stock with a stop loss of Rs 167 for a target of Rs 198. We can get 10.6% returns in 3-4 weeks.
Government wants Zomato-like valuation of LIC’s IPO, target of Rs 10 lakh crore
IFB Industries: Buy | LTP: Rs 1,297.05 | Buy this stock with a stop loss of Rs 1,220 for a target of Rs 1,445. We can get 11.4% returns in 3-4 weeks.
Investment Advice by Shrikant Chauhan of Kotak Securities
GAIL India: Buy | LTP: Rs 150.50 | Buy this stock with a stop loss of Rs 145 and target Rs 160-165. We can get 6.3-9.6 per cent returns in 3-4 weeks.
Tech Mahindra: Buy | LTP: Rs 1,517.45 | Buy this stock with a stop loss of Rs 1,465 and target Rs 1,620. We can get 6.8 per cent returns in 3-4 weeks.
HDFC: Buy | LTP: Rs 2903.95 | Buy this stock with a stop loss of Rs 2,800 with a target of Rs 3,125. We can get 7.6 per cent returns in 3-4 weeks.
Investment Advice by Vijay Dhanotiya of CapitalVia Global
Coromandel International: Buy | LTP: Rs 824.25 | Buy this stock with a stop loss of Rs 760 and target Rs 1,000. We can get 21.3 per cent returns in 3-4 weeks.
UPL: Buy | LTP: Rs 704.35 | Buy this stock with a stop loss of Rs 500 and target Rs 900. We can get 27.8% returns in 3-4 weeks.
Dalal Street Week Ahead: Some important factors that will decide the condition and direction of the market this week
Shriram Transport Finance: Buy | LTP: Rs 1,518.60 | Buy this stock with a stop loss of Rs 1,150 and target Rs 1,900. We can get 25.1% return in 3-4 weeks.
Mehul Kothari’s investment advice from Anand Rathi
Axis Bank: Buy | LTP: Rs 816.70 | Buy this stock with a stop loss of Rs 790 and target Rs 910. We can get 11.4% returns in 3-4 weeks.
For social media updates please contact us on Facebook (https://www.facebook.com/moneycontrolhindi/) and Twitter (.) to follow.
.