'10 ki Kamai'-Stock market tip: Why you should buy DCB Bank shares; expert sees this whopping jump
Exit polls 2019 have predicted a clear win for BJP-led NDA and indicated Narendra Modi retaining power at the Centre. This has proved good for the stock market as well, with as many as 40 stocks touching their 52-week high levels on BSE on Monday.
Exit polls 2019 have predicted a clear win for BJP-led NDA and indicated Narendra Modi retaining power at the Centre. This has proved good for the stock market as well, with as many as 40 stocks touching their 52-week high levels on BSE on Monday - exit polls were unveiled late Sunday evening. These stocks include Bajaj Finance, DCB Bank, Federal Bank, HDFC Bank, ICICI Bank, SRF, Titan, Kotak Mahindra and PVR. Of the 2,286 scrips traded, 1,718 advanced, 440 declined and 129 remained unchanged. Out of these, one stock you should keep your eye on is the DCB Bank which might go further up in the coming days, according to market expert Shubham Agarwal.
Agarwal told Zee Business TV that investors can still bet on this stock as the long-term structures look positive. He said that the stock can be added to your portfolio for the next two to three months. "I think investors should buy DCB Bank. If you will look at this bank, when the market was down, it was going sideways. Now, when the market surged, it has reached an all time high. The long-term structures of this stock are positive and investors should target at least two to three months with this stock," Agarwal said.
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At 12:37 hours, DCB Bank was trading at Rs 230.35, up by Rs 8.50 or 3.83 per cent. Agarwal believes that it could rise by at least 15 per cent over the next two to three months and touch the Rs 260 mark. "The share price could go up by at least 15 per cent in two to three months. The investors to target the Rs 260 mark while maintaining the stop loss of Rs 210," he added.
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Meanwhile, 87 securities fell to their respective one-year low levels on Monday. This included Biocon, Binani Industries, Jubilant and Monsanto. The number of securities that hit the upper circuit limit was 115, while 119 scrips touched their respective lower circuits, according to BSE.
The benchmark BSE Sensex skyrocketed over 900 points. Market regulator Sebi and stock exchanges have beefed up their surveillance mechanism to check any manipulative activities in the market this week in view of the high-octane election related events lined up. The vigil on markets will continue till May 23, when counting of votes for Lok Sabha elections 2019 will be held.
Meanwhile, the rupee appreciated 79 paise to 69.44 against the US dollar in opening trade, even as crude oil prices firmed up.