Stocks to buy this week: Experts suggest these nine technical picks; do you own any?
global market sentiment. Both the Sensex and the Nifty50 are down over 2 per cent in August so far amid concerns over the resurgence of inflation, chatter around more rate hikes by the US Fed, elevated US bond yields and the dollar index and rich valuation of the Indian market. Experts are of the view that the market's near-term outlook is hazy as it is struggling to find a positive trigger.
"August has been weak for global equity markets. In the mother market of the US, the S&P 500 is down by 4 per cent so far in August. This weakness has impacted all other markets including the Indian market where Nifty is down by around 2 per cent so far in August.
The global economic scenario and the growth, inflation and interest rate trends in the US will continue to determine stock market trends globally," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Vijayakumar pointed out that Fed chief Jerome Powell’s remarks at Jackson Hole underscored the uncertainty surrounding the global economy and markets. Amid prevailing uncertainty in the market, experts suggest betting on stocks that are sound on technical and fundamental parameters.
Based on the recommendations of several experts, here are nine technical calls that one can buy for the next three to four weeks. Take a look: The stock, after a decent correction, consolidated near the ₹3,150 level. It currently has indicated a bullish candle pattern on the daily chart with improving bias.
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