Budget-related stocks to be in focus next week; 8 scrips to keep an eye on: Vaishali Parekh
“We anticipate the next week to be of budget-related stocks like , PFC, Infra stocks like IRB and , railway stocks like Railtel, , IRFC and IRCON, also fertiliser stocks are expected to show momentum pick up,” says Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher.
In an interview with ETMarkets, Parekh who has over 16 years of experience said: “Key levels would be 17,770-17,800 on the downside and 18,250 zone on the upside which if breached decisively can trigger for fresh upside move” Edited excerpts:
A flattish week for Indian markets amid results from IT heavyweights. What led to the price action on D-St?
The IT giants’ results are out but has not shown a significant movement as of now with most of the frontline stocks moving sideways.
The Nifty50 index has been holding the crucial 17,800 zone for quite some time and it has been obvious that only a significant reason can bring about a breach in the levels.
How is the next week likely to pan out for Indian markets? Which are the key levels that one should be tracking?
Once again, the Nifty index has got the crucial support zone of 17,800 levels and has been holding on to the levels for quite some time which is a good thing.We anticipate that the next week will be of budget-related stocks like REC, PFC, Infra stocks like IRB and GMR Infra, railway stocks like Railtel, RITES, IRFC, and IRCON, also the fertiliser stocks are expected to show momentum pick up.
Key levels would be 17,770-17,800 on the downside and 18,250 zone on the upside which if breached decisively can trigger for fresh upside move.
Any particular strategy that traders can deploy ahead of Budget 2023?
Once again, one can watch for Budget related stocks like REC, PFC, Infra stocks like IRB and GMR Infra, railway stocks like Railtel, RITES, IRFC, and IRCON, also with fertiliser stocks which can show momentum pick up in the coming week.
One needs to be watchful for the support levels of the 17,770-17,800 zone for the Nifty index and the 41,600-41,700 zone for BankNifty index.
Top 2-3 trading ideas for the next 3-4 weeks?
One can pick stocks like REC, PFC,
, GMR Infra, RailTel, Rites, IRFC, IRCON, , , and for the coming 2-3 weeks before the Budget 2023.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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