Indian equity benchmarks ended lower on Friday on profit booking. Today, the start is likely to be weak tailing the sluggishness in the global indices. Traders will be cautious as the country’s foreign exchange reserves declined by $1.34 billion to $641.113 billion in the week ended September 10, 2021, according to RBI data. During the reporting week ended September 10, the fall in the reserves was on account of a decline in Foreign Currency Assets (FCAs), a major component of the overall reserves. Traders may take note of report that President Ram Nath Kovind said the Covid pandemic hit the country’s economy hard and the government has taken various fiscal measures to alleviate distress and help the poor. However, some respite may come later in the day as Commerce and Industry Minister Piyush Goyal said simplification, facilitation and ease of doing business has helped India create more startups. He said for promoting startups, the government is creating future global leaders and wants to become the innovation hub of the world. Here are 6 money making ideas from technical analysts that may deliver good gains in the near term.
Recommendations by: Ajit Mishra, Religare Broking
ITC | Buy | Stop loss: Rs 222 | Target price: Rs 242
Axis Bank | Buy | Stop loss: Rs 780 | Target price: Rs 840
SAIL | Sell | Stop loss: Rs 125 | Target price: Rs 102
Recommendations by: Mazhar Mohammad, Chartview India
DB Corp | Buy | Target price: Rs 112 | Stop loss: Rs 92
Time Technoplast | Buy | Stop loss: Rs 71 | Target price: Rs 79
Advanced Enzymes | Buy | Stop loss: Rs 389 | Target price: Rs 422
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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.