Indian equity benchmarks ended at record closing highs on Wednesday as India’s exports rose by 45.76% to $33.28 billion in August, as against $22.83 billion in the same month last year. Today, the markets are likely to make a flat start with negative bias following mixed global cues. However, markets may get support on the report that the United Nations Conference on Trade and Development (UNCTAD) has pegged India’s economic growth rate to hit a four-year high of 7.2% for 2021 against a contraction of 7% in 2020. At this rate, India would be the fastest-growing economy after China, which is projected to grow by 8.3%. Calculations are based on GDP at constant dollars in 2015. Here are top money making ideas from technical analysts that may deliver good gains in the near term.
Recommendations by: Rohit Singre, LKP Securities
ACC | Buy | Stop loss: Rs 2440 | Target price: Rs 2520/2570
Alembic Pharma | Buy | Stop loss: Rs 780 | Target price: Rs 825/855
Recommendations by: Sneha Seth, Angel Broking
Rallis | Buy | Stop loss: Rs 291 | Target price: Rs 310
Tech Mahindra | Buy | Stop loss: Rs 1442 | Target price: Rs 1505
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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.