Market experts are optimistic about the sustainability of the benchmarks’ gains in the near future. However, with the Lok Sabha election result day approaching, there may be some short-term volatility in the market.
Ajit Mishra, SVP of research at Religare Broking, noted that the market’s recent buoyancy has countered the previously bearish sentiment. He expects the Nifty to move towards the 23,150-23,400 range soon. Mishra also highlighted that while all key sectors are contributing to the rally, banking and IT sectors still have significant upside potential. He recommended a stock-specific trading approach, favoring large and mid-cap stocks for short-term trades.
Some stocks are looking attractive on the technical charts, according to experts. Analyst Riyank Arora from Mehta Equities suggested considering buying Tata Motors for potential double-digit returns in the short term. Similarly, analyst Mandar Bhojane from Choice Broking recommended Larsen & Toubro as a good buy with a target price range of ₹3,800 to ₹4,000.
Other stocks that analysts are bullish on include PNB Housing Finance, Atul, Samvardhana Motherson International, Ramco Industries, Saurashtra Cement, and Latent View Analytics. These stocks are expected to benefit from various factors such as increased housing demand, industrial growth, infrastructure projects, and election-related activities.
It is important to note that the views and recommendations mentioned above are those of individual analysts, experts, and brokerage firms, and investors are advised to consult certified experts before making any investment decisions.