As the Lok Sabha election result day draws closer, experts are expecting the benchmarks to sustain gains in the market. However, there could be short-term volatility leading up to the election results. The market’s buoyancy over the last two weeks has countered the previously bearish sentiment, with the Nifty expected to move towards the 23,150-23,400 range soon, according to Ajit Mishra, SVP of research at Religare Broking.
While all key sectors are contributing to the rally, banking and IT sectors still have significant upside potential, which could drive the index to much higher levels. Mishra recommends a stock-specific trading approach, favoring large and mid-cap stocks for short-term trades.
Some stocks are looking attractive on the technical charts, with potential for double-digit returns in the short term. Analysts have recommended nine stocks that may provide good returns in the near future. These include Tata Motors, Tata Consumer Products, Larsen & Toubro, PNB Housing Finance, Atul, Samvardhana Motherson International, Ramco Industries, Saurashtra Cement, and Latent View Analytics.
Each analyst has provided target prices, stop losses, and upside potential for these stocks based on their technical analysis. It is important to note that these recommendations are from individual analysts, experts, and brokerage firms, and investors are advised to consult certified experts before making any investment decisions.
As the market remains at a record high level, it will be interesting to see how these stocks perform in the coming days leading up to the Lok Sabha election results. Stay tuned for more updates on market trends and stock recommendations.
