19 Jun , 2021 By : Kanchan Joshi
Stocks to buy next week: Indian indices this week ended its four-week winning streak as NSE Nifty ended up 0.73 per cent lower. However, as per the stock market experts, panic selling has been absorbed well so far in the markets and local investors have taken these sell-offs as an opportunity to add to their positions. Absence of a sharp selloff in global markets may help keep bull's sentiments steady next week, they said. They advised traders to maintain stock specific trade as index gains from here on is expected to become slow. They advised investors to look at blue-chip stocks like Maruti Suzuki India Limited or MSIL, HDFC Bank, Bharti Airtel, Berger Paints and Bajaj Auto, if someone is in mood to buy blue-chip stock when the market opens next week.
Speaking on why one should buy blue-chip stock when the market opens on Monday Sumeet Bagadia, Executive Director at Choice Broking said, "After the sharp fall in the Indian markets, these blue-chips stocks are expected to give sharp upside moves as and when there is trend reversal. Apart from this, there would be least downside deviation in the blue-chip shares when the market falls as these blue-chip companies have strong fundamental support to negate any chances of sentimental selloff."
Standing in sync with Sumeet Bagadia's views; Tanusree Banerjee, Co-Head of Research at Equitymaster said, "As India revives from the pandemic, the economy could witness several megatrend tailwinds that offer unprecedented growth opportunities. The solid blue-chip stocks will be the frontrunners taking advantage of these opportunities. They could, in fact, consolidate their share in the sector and use their disruptive capabilities to lay new foundations of growth."
Asked about the 5 blue-chip stocks that one can buy next week Sumeet Bagadia said that Bjaj Auto, Maruti Suzuki, HDFC Bank, Bharti Airtel and Berger Paints can be a good blue-chip stock to buy next week.
1] Maruti Suzuki: Speaking on Maruti Suzuki share price targets and outlook Ravi Singhal, Vice Chairman at GCL Securities said, "One can buy Maruti Suzuki shares in the range Rs6850 to Rs6950 for the targets of Rs7222, Rs7555 and Rs7777 in one month time-frame. But, one must maintain the stop loss at Rs6666."
2] Berger Paints: Advising investors to buy Berger Paints, Ravi Singhal of GCL Securities said, "Investors can buy Berger Paints shares in the range of Rs800 too Rs825 for the one month target of Rs888 maintaining stop loss at Rs777.
3] HDFC Bank: Unveiling investment strategy in HDFC Bank shares Sumeet Bagdia of Choice Broking said that one can buy HDFC Bank stocks at current market price for the one month target of Rs1600. However, Bagadia strictly advised investors to maintain stop loss at Rs1455.
4] Bajaj Auto: Sumeet Bagadia said that Baja Auto Share price is looking positive and can go up to Rs4300 per stock levels. He advised investors to buy Baja Auto shares at around Rs4150 maintaining stop loss at Rs4050 mark.
5] Bharti Airtel: Expecting rally in Bharti Airtel share price Sumet Bagadia said, "One can buy Bharti Airtel shares for the target of Rs600 maintaining stop loss at Rs520. Buying range would be Rs535 to Rs538."
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