The latest analysis and commentary by stock market gurus Harsha Upadhyaya, CIO – Equity at Kotak Mutual Fund and Mitessh Thakkar of mitesshthakkar.com on what moved the markets this week. Check out their top stock recommendations.
On the market, Upadhyaya said, “The undertone remains quite positive. We have seen enhanced liquidity flows coming from foreign investors and that has continued since middle of February which is in-line with what we have seen across other emerging market as well. My guess is that is likely to continue.”
“All eyes will be on how the earnings season would pan out for the next financial year starting from June quarter. I think the sustenance of the rally or if you have to reach higher levels on the index, the monsoon, the election outcome, and the earnings season, these will be the critical factors to watch out for,” he added.
Stock specific, Thakkar said, “A buy on Reliance Industries. That is one stock which held up very nicely and is one stock that I would suggest will add a lot of strength to the market. So, buy with a stop at Rs 1,365 for target of Rs 1,420. L&T Finance is a sell, but it is a conditional sell. It is trading with a weak structure at pivot levels of Rs 145. So, if it breaks Rs 144.50, go short with a stop at Rs 147.50 and targets of Rs 138.”Follow stock recommendations by Mitessh Thakkar here:
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