Tuesday 17 July 2018

Stock Picks Of The Day: These 3 Nifty Stocks Could Return 4-9%

Posted by suhani varma on Tuesday, July 17, 2018 with No comments


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The Nifty finally ended its 3 month long consolidation phase and reclaimed the 11,000 mark last week. Encouraging start to the earnings season combined with supportive global cues helped the index inch higher.

However, participation was limited only to a handful of index majors while correction continued on the broader front. The index closed 82 points lower at 10,936 on Monday.

We reiterate our bullish view on the Nifty and expect new record highs in the near future. However, prevailing turmoil on the broader front is hard to digest.

We recommend a stock-specific trading approach in such a scenario. Since stocks are trading volatile, keeping positions on both the long and short side are advisable. Investors can focus on private banks, FMCG, financials and IT for long trades. State-run banks and media counters may remain under pressure. So, plan your trades accordingly.

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