In a remarkable third consecutive week, Nifty continued its ascent, driven by robust buying activity. Leading the charge were heavyweight stocks like HDFC Bank, Bajaj Auto, Infosys, and HCL Tech, injecting fresh enthusiasm into the market. The midcap segment also witnessed strong buying for the third consecutive day.
Nifty’s Remarkable Third Consecutive Week
To navigate this thriving market, Prashant Sawant, in the special segment ‘Chaar Ka Chowka’ on CNBC-Awaaz, recommended a cost-effective strategy involving Tata Motors. He suggested purchasing a call option with a strike price of Rs 630, expiring in September, available at Rs 16.60. This approach could potentially yield a target price of Rs 28, with a recommended stoploss at Rs 11.50.
In the world of Futures and Options (F&O), Ashish Baheti highlighted Oracle Financial as a superstar stock. He advised buying Oracle Financial at Rs 4385, anticipating a future target of Rs 4550, with a prudent stoploss at Rs 4300.
Sustained Buying Strengthens the Market
Additionally, Prakash Gaba placed his bet on Hero MotoCorp, advising investors to buy at Rs 3064. This investment could potentially yield a target of Rs 3100, while safeguarding with a stoploss at Rs 3025.
In the midcap segment, Gaurang Shah singled out Gabriel India as a promising stock. He recommended acquiring Gabriel India at Rs 318 for a long-term perspective, emphasizing the potential for substantial returns over the medium to long term.