Here's The Nifty Target For Next Few Sessions, According To Experts
Market experts share their top picks across sectors.
As India's benchmark indices rose for six straight weeks, logging the best weekly gains in nearly three years on Friday, market experts expect the momentum will continue.
The Nifty 50 could hit 21,250 target over the next two trading sessions, according to Chandan Taparia, head of technical and derivatives research at Motilal Oswal Financial Services Ltd.
"The trend is positive for markets. Nifty is expecting support at 20,850 and then at 20,700. If Nifty does not break 20,800, then we will see 21,250 levels," he said.
The NSE Nifty 50 ended 68 points, or 0.33%, higher at 20,969.40, while the S&P BSE Sensex closed 304 points, or 0.44%, up at 69,825.60.
The Nifty hit the 21,000 mark for the first time during intraday trading on Friday.
Birlasoft Ltd. is Taparia's preferred choice from the information technology sector, while TVS Motor Co. at Rs 1,820-1,840 levels is his choice in auto.
Bharat Forge Ltd. could be on the 'buy' radar on declines, he said. Its unit Kalyani Strategic Systems Ltd. plans to acquire majority stake in Zorya Mashproekt India Pvt., which is involved in development of indigenous capabilities for build-ups.
Markets Could Blowout
On the political front, BJP's recent performance in state elections have showed that the 'Brand Modi' is intact, said market expert Mehraboon Irani. He sees good chances for the party in the 2024 general elections.
"Markets could witness a blowout. Frontlines will contribute to the rally," he said.
Irani stays positive on specialty chemicals, realty, sugar and auto ancillary sectors.
"Supreme Petrochem Ltd. and Sadhana Nitro Chem Ltd. are picks in specialty chem space... In realty, sector is positive and the problem of inventory is behind us while sales are coming up," he said.
Tops picks in realty are Macrotech Developers Ltd. (Lodha), Godrej Properties Ltd. and Peninsula Lands Ltd., according to Irani.
Over the long term, he is positive on Balrampur Chini Mills Ltd. and Dalmia Bharat Ltd. in the sugar sector.
While the target for Bajaj Auto Ltd. is Rs 10,000 over the next two years, he called Tata Motors Ltd. a "dark horse".
The views and opinions expressed by the investment advisers on NDTV Profit are of their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.
