Angel remains overweight on discretionary consumption theme with stocks like Safari Industries, Bata, Blue Star and Parag Milk Foods.
After subdued performance till June, the rally in market started in July and is continuing in August. This helped the benchmark indices cross new milestones (38,000 on the Sensex and nearly 11,500 on the Nifty), driven by stable to better-than-expected earnings growth in the June quarter; though it corrected in the past two consecutive sessions on global concerns.
“We feel any decline due to external factors would be short-lived and traders should continue with “buy on dips” approach. In fact, it’s healthy to have such corrective phase as it eliminates weak hands,” Jayant Manglik, President, Religare Broking told Moneycontrol.
He suggests keeping close eye on global developments along with prevailing earnings season for cues.
Angel Broking said it continues to believe that the market may be in wait-and-watch mode till general elections 2019, but this period could also offer opportunities to cherry pick some quality equity investment.
The research house recommend 22 top picks as good bets to utilise this opportunity which are offering healthy returns in the next 1 year. “All of these top picks are backed by sound business model and are likely to do well in the coming years.”
Angel remains overweight on discretionary consumption theme with stocks like Safari Industries, Bata, Blue Star and Parag Milk Foods.
Here is the list of 22 stocks from Angel Broking which could return up to 58% over a period of one year:
