Make money fast: Shares that may bring profit at faster rate
On account of Federal Reserve Chairman's dovish stance on the rate cut, the global equity indices went up on the fifth straight day and the whole focus has come back on the outcome of US-China trade talks. The Asian markets too have responded positively opening green. However, market experts have expressed that it's banking shares that would lead the rally at Indian indices followed by real estate, housing and finance. Stocks like ICICI Bank, Axis Bank, HDFC Bank, IndusInd Bank, State Bank of India, Shobha Developers, Muthoot Finance, Capital First have a strong possibility to return fast in the small time period.
Taking cue from the strong quarterly results of the IndusInd Bank Yuvraj Chaudhary, Chief Financial Analyst at Anandrathi told Zee Business online in a written statement, "The loan book of IndusInd Bank grew 35 percent y/y, driven by high growth in both books, corporate (39 percent y/y) and retail (28 percent y/y). We expect mid-20s loan growth to continue in the medium term. So, our rating for the stock is buy for a target price of Rs 1,914 by the end of January."
Commenting upon the expected strips that looks technically strong in the markets Simi Bhaumik, Technical Equity Analyst (officially registered with the SEBI) told Zee Business online, "Stocks from banking, NBFC and housing finance looks strong and major stock in the sectors that traders can bet upon are SBI, Bank of Baroda, ICICI Bank, Muthoot Finance, Capital First."
Giving details of some strips that traders can give a view while going for Friday trade Bhaumik said, "SBI stock can be bought at around Rs 300 levels with a stop loss at Rs 295. Its immediate target is Rs 320." On Bank of Baroda she advised taking buying position at Rs 115 taking stop loss at below Rs 110 and book profits when it reaches around Rs 139-145 levels.
Simi Bhaumik went on to add, "I would maintain my views on SBI, Muthoot Finance and Capital First and advise traders to take buy position in these stocks." She said that traders can take buying position on Muthoot Finance above Rs 500 levels with a stop loss at below Rs 490 and book profit in between Rs 540 to Rs 555 levels. On Capital First she recommended buying at Rs 570-575 levels with a stop loss below Rs 555 as the strip may soon touch the Rs 640 levels.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.