Indian markets closed flat Monday but managed to scale record highs, amid volatility as IT stocks dragged while autos, banks, and Reliance Industries lend support to the indices. Today markets likely to open flat with a positive bias amid mixed global cues. Traders will get encouragement as rating agency Icra revised up its 2021-22 real GDP growth estimate for India to 9% from the earlier 8.5%. It said a ramp-up in Covid-19 vaccination, healthy advance estimates of Kharif (summer) crop and faster government spending were the factors that led to the revision. Some support will come as Commerce and industry minister Piyush Goyal said export figures have hit $185 billion as of September 21.
Here are 6 money making ideas from technical analysts that may deliver good gains in the near term.
Recommendations by: Nirav Chheda, Nirmal Bang Securities
Reliance Industries | Buy | Stop loss: Rs 2,480 | Target price: Rs 2,580
NMDC | Buy | Stop loss: Rs 136 | Target price: Rs 148
HDFC AMC | Buy | Stop loss: Rs 3140 | Target price: Rs 3,280
Recommendations by: Manish Shah, Nifty Triggers
RBL Bank | Buy | Stop loss: Rs 182 | Target price: Rs 200-210
Tata Steel | Buy | Stop loss: Rs 1,310 | Target price: Rs 1,180-1,160
Hero Moto | Buy | Stop loss: Rs 2870 | Target price: Rs 2,990-3,040
(Follow Money9 for latest Personal finance stories and Market Updates)
The economy is recovering but GDP is expected to be only slightly larger than it was in pre-pandemic 2019-20.
The NIP will help augment India’s productive capacity, contribute to our overall growth and bring down the logistics costs, improving competitiveness
Diversification is key and should be followed for stable and steady returns in the long run.
There is a need to continuously facilitate trade and industry and provide thrust to the growth promising sectors of Indian economy.