Investor interest seems to be insatiable in PSU stocks, be it defence, shipping or even banking. Many of the PSU defence and shipping stocks have turned out multi-baggers, be it BEL, BHEL, Coal India, HAL, NHPC, NTPC, PFC, REC, Mazagon Dock, to name a few, says Aamar Deo Singh, Head Advisory at Angel One. At current levels, fresh entry might not work in favour of proper risk-reward, so rather one should wait for correction, to look at fresh entry, he adds.
Are you surprised with the start of the September series considering all the negativity of the August series?
Markets are always filled with surprises but if one is on the right side of the trend, the surprises could be pleasant.
Markets were in a consolidation mode, post the sharp rally witnessed across the board and cutting across sectors. Even most of the technical indicators continued to remain bullish despite the correction witnessed in August, reflecting the inherent strength of the market.
Be it the broad-based Advance-Decline Ratio which clearly shows that bulls are in control or 84% of stocks which are now trading above their 200-Day Moving Averages. This clearly indicates that the rally was a broad-based rally.
Also, it has been an opportunity for investors across multi-caps to seize upon this opportunity.
But yes, in any market scenario, one needs to be alert, prudent while at the same time, scout for opportunities.
While Nifty and Bank Nifty ended the week with gains of 2% and 1.55%, respectively, what lies ahead for them next week?
Nifty as well as Bank Nifty are trading in a bullish terrain from a longer term perspective. However, in August, the major indices and primarily few of the heavyweights witnessed profit-booking, leading to a correction in these