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Stocks to Buy on Monday – Analysts recommend National Aluminum Company’s Mphasis as a position pick for daytime profits

The Indian market witnessed bullish moves in 2020 and 2021 and rewarded investors, says market expert Shrikant Chouhan. The market he expects 2022 to be an equally rewarding year for investors. In one year, the rate of increase was almost 24%.

He further said that the stock market has witnessed a widespread recovery, and when that happens, investors can make money across the sector.

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He also said investors will be looking at top triggers this year, including UP elections, the 2022 union budget, and corporate quarterly results.

The market has also ended the year at a high level, and Chouhan expects this trend to recover only from here. Friday’s BSE Sensex ended at 58,253.82, up 459 points (0.80%) from Thursday’s closing price. Meanwhile, the broader market, Nifty50, rose more than 150 points (0.9%) to close at 17,354.05. In the domestic market, action was seen in almost every segment.

Analysts said the Nifty50 was able to maintain levels of around 17,000, despite the unfavorable news from the Omicron front. He added that a breakout was seen at the start of the series in January 2022. Technically, the market closed above the previous week’s high of 17,250.

The next key level in the 50-share index is 17,650, which is also a high in the previous month. This could be the next target for Nifty50.

When it comes to call writing, he said the shift is now from 17,500 to 17,700-18,000.

He added that modifications from the current level would open up new long-position opportunities.

He recommends two stocks on Monday. One is the daytime view and the other is the position term view. He quoted the ongoing momentum in this segment and recommended tech stocks for purchase.

mPhasiS: Purchase | LTP: Rs 3399 | Target: Rs 3550 | Stop Loss: Rs 33400 | Upside down 4-5%

He recommended buying this stock from a long-term perspective. The stock shows a strong breakout pattern in the short term, he said.

National Aluminum Company: Purchase | LTP: Rs 100 | Target: Rs 110 | Stop Loss: Rs 95 | Upside Down 10%

Another strain he chose was National Aluminum Company Limited. He said the stock was ready to rise to 110 rupees.

(Disclaimer: The views / suggestions / advice presented here in this article are by investment experts only. ZeeBusiness advises readers to consult an investment adviser before making financial decisions. It is recommended.)



Stocks to Buy on Monday – Analysts recommend National Aluminum Company's Mphasis as a position pick for daytime profits

Source link Stocks to Buy on Monday – Analysts recommend National Aluminum Company's Mphasis as a position pick for daytime profits

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