Expert advice: Want to earn more in 2019? Don't forget to buy these stocks
The lower GST taxes, better monsoon, expectations of better corporate earnings in the last quarter of the FY2018-19 will also have a positive impact. Rohit Singre, Senior Technical Research Analyst, LKP Securities spoke to Zee Business online and mentioned his top 5 stock picks for the year 2019.
The Indian markets went on a roller-coaster ride in 2018, with a 52-week low of 9,900 to a lifetime high of 11,750, the NSE Nifty 50 saw it all. Banking sector recapitalisation by government and liquidity infusion to banks is likely to benefit markets in the initial phase of 2019. GST council's rate cuts and further planning for a cut in housing project GST taxes will benefit cement and building construction companies. This could be a good time for investors to put their money in stock market and get good returns as global stability, relief in trade wars and expectations of strong economic numbers by India will be acting support to indices in the coming few months.
The lower GST taxes, better monsoon, expectations of better corporate earnings in the last quarter of the FY2018-19 will also have a positive impact. Rohit Singre, Senior Technical Research Analyst, LKP Securities spoke to Zee Business online and mentioned his top 5 stock picks for the year 2019.
1. Apollo Hospitals: TGT-Rs 1,500, C.P-Rs 1,280.
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"Apollo Hospitals has given a double bottom breakout and looks positive on charts," said Singre.
2. Dr Reddy's: TGT-Rs 3,000, C.P-Rs 2,600.
"Dr Reddy had a breakout at a weekly chart, must have in your basket for 2019," Singre mentioned.
3. Hexaware Tech: TGT-Rs 400, C.P-Rs 337.
"Hexaware has taken support from rising trendline, is likely to strive towards 400 levels," Singre added.
4. Sun Pharma: TGT-Rs 500, C.P-Rs 434.
"Sun Pharma has shown a bullish shark pattern on charts, looks positive for 500 levels," said Singre.
5. Maruti Suzuki: TGT-Rs 8,400, C.P-Rs 7,400.
"Maruti will be the pick from the auto sector, has a positive outlook in 2019," Singre added.
Despite a good festive season in 2018, the Indian auto sector posted lower sale volumes. However, the retail, IT, consumer goods and pharma witnessed a major recovery last year.
10:21 am