Tuesday 7 August 2018

See Nifty At 11,600 3 Stocks That Could Return 7-10%

Posted by suhani varma on Tuesday, August 07, 2018 with No comments

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The markets traded volatile last week but managed to end with modest gains, thanks to encouraging earnings announcements. The beginning was upbeat, in continuation to the prevailing uptrend, but sentiment was dented in the middle of last week, with a hike in interest rate by the Monetary Policy Committee and weak global cues.

However, a rebound in Friday’s session helped the benchmark index close around the week’s high. Almost all sectors participated in the move, with pharmaceutical, energy and fast moving consumer goods (FMCG) were the top contributors.


We reiterate our bullish view on the market and maintain our target of 11,600 on the Nifty. Besides earnings, participants should closely monitor updates on the progress of monsoon and global cues. Traders should continue their focus on stock selection and prefer private banks, pharma and financial counters for fresh longs.

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