Best Stock Tips: The year 2020 is proving fantastic for the stock market. Sensex and Nifty are continuously reaching new peak.
Best Stock Tips When Market On Record High
The year 2020 is proving fantastic for the stock market. Sensex and Nifty are continuously reaching new peak. The best thing for the stock market is that after lorgecap, now midcap and smallcap stocks are seeing a boom. Experts believe that last year, where a few select stocks have strengthened the market, this year there are all signs of a boom in the broad market. He says that sentiment is still positive from the domestic market point of view. If the market gets better sentiments on the economy front with some new announcements in the budget, then this rally is going to continue. In view of this sentiment, brokerage houses are also forming their opinion on some stocks. We have selected some such stocks here, in which you can get a percentage return on investing.
Rally will continue in the market
Santosh Meena, Senior Analyst, Trading Bells, says that this is a pre-budget rally in the market, although it is also getting support for positive global market sentiment. The factor of geo political tension has become lighter due to reduced tension between US and Iran. At the same time, an agreement has been reached between the US and China on the trade deal, which has also reduced the tension of the trade war. While rising inflation is a concern, the market has so far ignored it. So far, the earning season has been mixed, but better is expected.
He says that technically the Nifty is trading in the important zone of 12350-12400. Even after this, there are no signs of weakness in the market. If the market manages the resistance zone, then the Nifty can touch the level of 12545/12700 in the coming days. During this time, the Nifty will support downward at the level of 12300.
Which shares will gain momentum
Brokerage house Motilal Oswal has kept a target of Rs 575 while recommending investment in telecom share Airtel. The current price of the stock is Rs 470. In this context, the stock can get 22 percent return. According to the report, telecom companies will get relief after a long time due to the increase in tariff. Airtel has a large base, which will benefit the company. In 2020, there may be a further increase in tariffs, which will reduce the pressure on the company’s profits.
Brokerage house Sharekhan has set a target of Rs 1445, while recommending investment in Titan Company. The current price of the share is Rs 1167. In this context, it can get 24 percent return. According to the report, despite the rise in gold prices, the company’s jewelery business has grown by 11 percent on an annual basis. The company has also benefited from the wedding and festive season. However, when it comes to other business of the company, growth has been muted. Estimates of the company’s earnings in the coming days are better. Share has come to a good valuation.
Mishra Metal Corporation Limited
Brokerage house ICICI Securities has a target of Rs 242, recommending investment in Mishra Dhatu Nigam Limited. In terms of the current price of the stock at Rs 172, it can get around 41 per cent return. The 52-week high of the stock is Rs 186. The company is the country’s leading manufacturer of special steels, super alloys and titanium alloy manufacturers. The company’s products are used in the fields of defense, space and power. The orderbook of the company is strong and it is continuously increasing.
Insecticides India is a big name in India’s crop protection industry. The company currently has around 120 formulations and 15 technical products, which are used in agriculture. The company manufactures insecticide, fungicide and PGR for all types of crops. This time the company will benefit from better monsoon. Brokerage house Prabhudas Liladhar has given a target of Rs 948 for the stock. In terms of current price of Rs 548, the stock can get 73 percent return.
(Note: We have given information here based on the interaction with the expert and the report of the brokerage house. There are risks of investing in the stock market, so invest only with the advice of the expert.)