Indian markets raced to new peaks on Friday with the Sensex index crossing the 60,000 mark. Today, start of new week is likely to be optimistic following positive cues from global markets. Some support will come as Union Finance Minister Nirmala Sitharaman said the Indian economy is on a sustained path of revival and cited a rise in GST collections and direct taxes to support her assertion. She further said that the confidence in the Indian stock market is growing as retail and small investors are keenly investing money in the share market. Sentiments will get a boost as the Finance Ministry said net direct tax collection grew 74.4% to Rs 5.70 lakh crore between April 1 to September 22 this fiscal. The net direct tax collection of Rs 5,70,568 crore after adjusting for refunds includes Corporation Tax (CIT) at Rs 3.02 lakh crore and Personal Income Tax (PIT) at Rs 2.67 lakh crore. Here are 6 money making ideas from technical analysts that may deliver good gains in the near term.
Recommendations by: Mazhar Mohammad, Charview India
PNC Infra | Buy | Stop loss: Rs 353 | Target price: Rs 388
Delta Corp | Buy | Stop loss: Rs 227 | Target price: Rs 265
National Fertilizers | Buy | Stop loss: Rs 54 | Target price: Rs 69
Recommendations by: Ajit Mishra, Religare Broking
Berger Paints | Buy | Stop loss: Rs 820 | Target price: Rs 860
Bajaj Auto | Buy | Stop loss: Rs 3,650 | Target price: Rs 4,100.
Cadila Healthcare | Buy | Stop loss: Rs 545 | Target price: Rs 590
(Disclaimer: Stocks recommendations by experts or brokerages are their own and not those of the website or its management. Money9.com advises market participants to check with certified experts before taking any buy, sell or hold decisions.)
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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.