My Budget 2019 picks! These 5 stocks can add hefty money in your kitty

Currently, both benchmark indices Sensex and Nifty are in a price correction mode, which makes many wonderful stocks affordable and brings in greater opportunity for higher returns. But know here that the risks abound and all actions should be carefully vetted before going ahead. You must minimise risk and yet maximise gains to ensure you come out smiling ear to ear.

The trick is still to pick the right one! You need to identify and then buy valuable companies when they fall, if you want to become rich from equities. Image source: Reuters

Notably, the next big thing is Union Budget 2019 followed by General Elections 2019 where the BJP alliance and the opposition is set to battle it out for the ultimate prize to run the country. However, one thing you, as the investor, should know is that this is the time to raise your hunger in stocks to a new level to really generate big profits. The trick is still to pick the right one! You need to identify and then buy valuable companies when they fall, if you want to become rich from equities.

Currently, both benchmark indices Sensex and Nifty are in a price correction mode, which makes many wonderful stocks affordable and brings in greater opportunity for higher returns. But know here that the risks abound and all actions should be carefully vetted before going ahead. You must minimise risk and yet maximise gains to ensure you come out smiling ear to ear.

Talking about the upcoming budget and its impact on markets, analysts at ShareKhan said, “Volatility may be the order of the day as oil prices, trade wars, general elections and Union Budget play out and investors will have to use patience as well as valuations to guide through the year. We expect to keep nibbling on quality stocks and use price corrections to add fundamentally strong stocks identified by our research team.”

This means that the volatility which is currently stressing investors will see relief ahead. Hence, rather than panicking, let’s pick stocks that can turn best bets for this year.

According to Debadrata Bhattacharjee, Head of Research, CapitalAim, these five stocks can be your wise investment options before Budget. They are all set to make you rich!

UPL!

UPL is very focused stock. Govt's focus on farmers boosts UPL to a new high. If govt gives a special package to fertilizer companies this stock may perform well in this session.

Stock is trading in a range of 790 on the upper side and 730 in lower sideline. RSI and MACD momentum stuck UPL price to upper band, Rs 805 is the likely target in this counter.

Buy with a target price of Rs 805.

ACC!

If Govt spending increases in infra projects, cement is the likely sector that will give positive returns post budget presentation. ACC is the counter that one can bet on. From Rs 1400 to Rs 1420, ACC can be accumulated and one can see Rs 1495 in near term.

Cement is the core part of every infra project. Demand for cement will accelerate and with this as the context, one can easily grab the opportunity.

Buy with a target price of Rs 1495.

REC!

REC on weekly charts shows strength ahead of budget presentation. RSI (relative strength index) of REC has acquired strong momentum which add strength to the counter. On the higher side, REC has potential to touch Rs 129 + levels in near term.

MACD histogram indicator shows on every dip there is a base building in this counter. One can buy REC on every dip.

Buy with a price target of Rs 127.

IDFC BANK!

IDFC Bank is going through an uptrend. It has held forth in a range of Rs. 45.30-47.50 for the last couple of days. An ascending triangle formation happened from last 7 days. Break out above 47.50 and one can see 49.50. RSI indicators shows positive momentum from current point at 75 on daily charts. Continuously above 70 level highlights upside momentum in IDFC Bank.

Buy with a price target of Rs 49.40.

NIIT Technologies!

NIIT Technologies is consolidating for the last many days. It has broken its previous hurdle of Rs 1280 which shows positive momentum. Weekly charts shows strong upside ahead. RSI indicates above 72 level means a positive trend is intact in this counter. From last two day’s Bullish candles formation shows strength too. Going ahead, one can see Rs 1350-Rs 1400 target in near term.

Buy with a price target of Rs 1350.

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