Inventory Suggestions: 2 Inventory Concepts of Kunal Bothra for the following week


Nifty went from 15800 to 16700 final week, from right here we must always count on 17000 or are we already getting too grasping?

I imagine we’re not being as grasping because the markets have licked as a result of information factors around the globe are entering into favorable areas for our markets.

We noticed two textures of the market this week; The primary half of this week was extra dominated by the transfer of the index the place we noticed the second-ranked shares outperform.

For instance, unconventional names like Nifty IT Index have managed to see an honest rally. Additionally, PSU banking shares outperformed personal sector banks within the first half. However within the second half and particularly on Friday, we noticed the return of huge cap names like HDFC, who have been marginal or underperformed within the first half. So these two confronted worth motion on the within of the market means that we must be trying to transfer larger. There have additionally been sectoral churns, inventory particular churns inside sectors to maneuver away from the market this week.

And crucial side was one of many main resistances which was round 16600 to 16700 zones that we’ve managed to beat.

FII shopping for within the final two or three buying and selling periods can be a giant optimistic signal for the markets as when the FII shopping for comes again the market picks up so much. So assuming that if world markets are steady sufficient, we must always most likely search for 17K subsequent week.

What do you may have like for subsequent week?

I’ve two buy names; The primary is AB Capital. The inventory has carried out properly on Thursday and Friday, though the value development has solely emerged from a correction section.

I imagine the potential could be very excessive for the inventory within the close to time period so a goal of Rs 110 may be seen subsequent week and cease loss may be positioned at Rs 100.

Angel One is a kind of shares that did fairly properly within the second half of 2021 after which fell right into a kind of corrective section in keeping with the midcap theme.

However now it’s making a robust comeback. The inventory has damaged above the 200-day shifting common and has additionally made a robust comeback by way of volumes. So I count on this inventory to do very properly. 1500 may be stored as a close to time period goal and cease loss may be positioned at Rs 1400.

(Disclaimer: Suggestions, ideas, views and opinions given by specialists are their very own. They don’t signify the views of The Financial Instances)



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