With markets opening up, expect trends to resume bullishness. Here are three stocks to trade, recommended by NeoTrader’s Raja Venkatraman.
Why it’s recommended: KPIT Technologies Ltd is a global technology company specializing in embedded software and digital solutions for the automotive and mobility sector. Founded in 1986, the company is headquartered in Delhi NCR and is the largest producer of structural steel tubes in India.
Why it’s recommended: IndusInd Bank is a private sector bank that offers a wide range of consumer and corporate banking services. With Bank Nifty showing strength, we can observe that the last few days the counter after the consolidation at the TS line has shown some strength.
Why it’s recommended: KEI Industries Ltd (KEI) is a premier Indian manufacturer and supplier of wires and cables, established in 1968. It is a leading player in the domestic market and has a significant global presence, serving clients in over 60 countries.
The equity benchmarks pared some gains in a volatile Thursday session as profit booking trimmed intraday advances, with the Sensex retreating roughly 200 points from its peak and the Nifty slipping below 26,050.
Choppy markets always push us to evaluate new scenarios. Last week we saw the markets continue to move higher but the constant volatile nature of the market forced us to look at every sector only for a limited timeframe.
The strong sector rotation that emerges lead to some stock specific action which demanded that all were clear about what’s happening.
Earnings season is keeping market participants busy.
It was more of the same during yesterday's session, as the Nifty revived swiftly from lower levels as the supports highlighted yesterday came to our rescue. continued to push up to fresh new highs.
Every target that everyone has made for the Nifty has been taken down by the index and now the new calls for a move to cross 25500 levels have started surfacing.
People are now a lot more optimistic about what lies ahead and everyone has revised their Nifty earnings figures higher.
Sometimes one feels that the revisions are a shade too optimistic.
It is actually thus every year- Q2 forecasts about the earnings growth are expected to resume now as the news unfolds, the projection remains subdued.
Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.
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