Nifty 50 can add 1,200 points in June, says Nirmal Bang; lists 2 technical and 2 fundamental stock picks

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Read here: Stocks to buy: Top four stock picks by Kotak Equities for JuneThis is because the favourable result of the Modi-led NDA forming the government for the third straight term will lead investors to think for the next 5 years and leave aside near-term over-valuations.However, in the latter part of June, the brokerage believes the focus will shift to the Budget wherein the government has received a bonus from RBI in the form of a Dividend of ₹2,11,000 crore which will support the budget for higher capital spending and lowering the fiscal deficit."We may see some softness in the market towards the later part of June month as the market will start factoring in June quarter results. The June quarter results are likely to be soft on account of slowdown in activity due to election and extreme heat waves," it said.Read here: Paytm share price gains over 8.5% to cross ₹400 mark after 8 weeksMoreover, it added that with sticky inflation the rate cut cycle got postponed from June to November in the US but corporate results for the March quarter were strong and ahead of expectations, that supported the market and took it to a newer high.

But now the initial signs of softer growth are emerging with lower consumer spend. Quite a few companies have indicated about slower growth in the coming period, further stated by the brokerage.Amid this backdrop, Nirmal Bang has come out with 2 fundamental and 2 technical stock picks for the current month.