Nifty September series outlook: 6 stocks where investors can park their money; do you own?
₹20.6k crore in cash market for the August month. FIIs long ratio is now at 50 per cent vs 59 per cent index futures implying more of hedged short positions into the September series. With the VIX being at lower levels of 11-12 per cent first dip towards 19,100-19,000 might be more prudent for fresh long positions, said the brokerage in its report.
The brokerage believes auto and chemical and technology are the sectors that can outperform the index in the September series. Maruti Suzuki, Coal India, Voltas, SBI Life Insurance, Mphasis, and rhe Indian Hotels Co Ltd are the top picks for the September series, according to Religare Broking.
Maruti Suzuki (CMP : 10,050):
Fifth straight month for the stock giving positive returns. In August series also, the stock managed to add 13 per cent longs with slightly lesser rollovers.
‘’We believe the stock can outperform the benchmark in September series as well. So holding support of 9,650, be positively biased for Maruti,'' said Religare Broking. Voltas(CMP : 870):
After prolonged downtrend, the stock managed to gain almost 14 per cent on the back of short covering.
Trading at 870, we believe stock is poised for further upside. ‘’So keeping a stop at 795, we vouch to go long in Voltas for an upside target of 950,'' said the brokerage. Coal India (CMP : 236.5):
After some base formation, Coal India gained nearly 2 per cent in August series on the back of some short covering and formation of longs.
‘’With good delivery based buying as well, we believe stock is poised to march upwards. So be positive in the stock with a stop at 227,'' said the brokerage. SBI Life Insurance (CMP : 1320):
The stock has done not done anything in last two series but seen addition of 23 per cent OI with
