Become rich by investing in the stock market: Top 5 private bank shares you should buy into
Become rich by investing in the stock market: Stock markets are at an all-time high. Sensex and Nifty both are expected to keep soaring and investors must take advantage to make lots of money.
Become rich by investing in stock market: Ignoring a flood of negative reports about the Indian economy including banking, manufacturing, automobile, pharma, telecom, etc. the BSE Sensex hit its all-time high of 40,816 levels yesterday while the Nifty crossed 12,000 levels and remained 64 points away from breaking its all-time high level of 12,103. In such a situation when the technical charts become a little confusing, investors may get confused about whether this is a money-making opportunity. However, experts say it is time to get rich. And to maximise returns on money invested in the stock market, share market experts are suggesting these 5 shares to buy — Axis Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank and IndusInd Bank.
Elaborating upon the reason for the rise in these 5 banking sector shares, Sumeet Bagadia, Executive Director at Choice Broking said, "In the recent trading sessions, Bank Nifty hasn't shown that kind of rally which the Sensex and Nifty has shown. So, we are expecting some positive upside movement in the banking sector and stocks like Axis Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank and IndusInd Bank can lift the Bank Nifty index up to 32,000 levels."
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Asked about the returns one can expect in these 5 stocks, Sumeet Bagadia said that ICICI Bank share price is oscillating around Rs 500 per stock levels and in one month, a share market investor can expect to witness Rs 535 per stock levels. Similarly, in other banking stocks, Bagadia said that Kotak Mahindra Bank shares can give 7-8 per cent upside movement while 5 per cent in HDFC Bank, 8-10 per cent in Axis Bank and 7-8 per cent in the IndusInd Bank can be expected.
Quite bullish on the Bank Nifty index, Prakash Pandey, MD & CEO at Plutus Advisors said, "Bank Nifty is facing resistance at around 31,500 levels, however, it has strong support at 31,000 levels. As the market is awaiting profit-booking, I would suggest stock market investors to see 200-250 points correction in Bank Nifty as a buying opportunity as FIIs are going to pump their money in the private sector banks and being their favourite pick Axis Bank and HDFC Bank may pull Bank Nifty up to 32,000 levels in one month time." Pandey said that in one month's time Axis Bank shares may hit Rs 800 per stock levels while HDFC Bank shares can hit Rs 1320 per stock levels in the same period.