Due to the good performance of IT and Pharma, the market managed to close on a weekly basis with gains. In the week ending May 26, the Sensex-Nifty managed to close with gains of 1.25 per cent and 1.63 per cent respectively. However, Bank Nifty closed flat compared to Sensex-Nifty. On the other hand, the bullish trend in the broader market continued and the midcap index closed with a gain of 2.69 per cent in the week ending Friday.
In such a situation, let us know what is the opinion of the market experts on the market next week.
Aastha Jain of Hem Securities Lmt says that there is a positive outlook on the market. Weakness in dollar index, debt problem in US economy, Indian markets will be seen performing well. Further upside is expected from the current levels in the market. If Nifty crosses 18600 level then 18700-18750 level can be seen soon.
Ashish Maheshwari, director of Arihant Capital, says that buying was seen in select stocks in the market yesterday. Small-medium sector, IT, auto, metal sector will be seen performing more now. Now the quarterly results of the companies have been better. With the onset of monsoon, the market will also be seen hitting 52 week high. Due to which our positive outlook on the market remains.
These stocks will give huge profits next week
Aastha Jain’s Choice
ZEN TECHNOLOGIES : Astha Jain’s first choice is ZEN TECHNOLOGIES. He says that due to strong order book and strong financials, this stock can be seen to perform better going forward. So it would be a buy advice. In this, the target of Rs 386-400 can be achieved.
AXIS BANK: The bank has a balance sheet of Rs 13 lakh crore. The fourth quarter results of the bank have been better. The bank’s credit growth guidance is above 6%. The stock looks better in terms of valuation. So buying is advised in this stock. Further target of Rs 1100 can be achieved in this stock.
INGERSOLL RAND: The company is continuously investing in technology. The financials of the company can remain strong going forward. Hence, it would be advised to buy for a long term target of Rs 3150.
Ashish Maheshwari’s Choice
Va Tech Wabag: Ashish Maheshwari has a BUY advice on Va Tech Wabag near Rs 440 levels with a stoploss of Rs 430. He believes that this stock can be bought for a target of Rs 475.
Som Distilleries & Dreweries: The company has recently expanded its business plans in Karnataka which augurs well for it going forward. The company’s results in the fourth quarter have been good. Ashish Maheshwari has a buy call on Som Distilleries & Dreweries with a stoploss of Rs 208 near Rs 215 levels. He believes that this stock can be bought for a target of Rs 230.
Welspun Corp: Ashish Maheshwari has a buy call on Va Tech Wabag near Rs 240 level with a stoploss of Rs 235. He believes that this stock can be bought for a target of Rs 260.
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