Stocks to buy: NHPC, SJVN among 8 stocks that may rise 6-16% in the next 3-4 weeks, say analysts; do you own any?
Poll of Polls: 10 exit polls predict 350+ seats for BJP-led NDA, three 400+; INDIA bloc to get less than 200 seatsOsho Krishnan, a senior technical ad derivatives analyst at Angel One, pointed out that the exit poll outcome cheered market sentiments, skyrocketing key indices to their respective lifetime high levels. However, Implied volatility, a measure of market uncertainty, continues to hover at an elevated zone."Given the eventful week with the election outcome and RBI MPC result, it's best to take a cautious approach and maintain a practical view.
The overall tone seems to support the bulls, and we expect dips to bode well in the near future. Support for Nifty 50 is at 23,100-23,000, while for Nifty Bank, support is at 50,000-49,500," said Krishnan.Also Read: Exit poll 2024 frenzy could be followed by profit booking after results, focus to shift on Budget, say expertsWhile the market is at a record high, experts suggest one should not get carried away and bet on fundamentally and technically sound stocks.
Based on the recommendations of several experts, here are eight stocks that can rise 6-16 per cent in the next 3-4 weeks. Take a look:Also Read: Exit Poll 2024: How to trade keeping Lok Sabha Election results in mind?Since May 28 this year, NHPC has been trading within a consolidation range of approximately ₹99 to ₹104.
Recently, it has broken out of this consolidation range, surpassing the upper limit of ₹104 and maintaining its position above this level. This breakout is a significant event as it suggests a potential shift in market sentiment and the beginning of a new upward trend.
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