As negative global cues weighed market sentiment,
bears prevailed in the first week of 2023. In afternoon trading on January 6,
2023, the benchmark equity index Sensex fell by more than 1% to 60,051 from
60,840 last week. Likewise, during the first five trading
sessions of 2023, the 50-share Nifty index lost more than 200 points. Is
the cautious start to the year a sign of more trouble to come? A tale of two
halves will unfold in the new year. The burden of rising interest rates, fears
of a recession, and the Russia-Ukraine War and its aftermath will continue to
weigh heavily on the first half. After that, we need to check to see if the central
banks have changed their minds about interest rates. After that, we need to
rethink our investment approach. In the current calendar year, the market
watcher anticipates a range bound market. In the best-case scenario, we believe
that Nifty may trade in the range of 17,500 to 19,500. The market may fall to
17,500 levels in the event of a global catastrophe.
What to buy next week ?
Certain stocks, themes, and industries will significantly outperform the
market in the future.Because so much work remains to be done, the defense
industry will continue to prosper. In the second half, order fulfillment may
begin to impact numerous company numbers. That is one area in which there is
currently very little ownership. In defense space, traction is growing, and it
will continue for the next four to five years.We anticipate that the
manufacturing and PSU sectors will benefit. After the sharp correction in 2022,
one should give information technology stocks a reasonable amount of weight in
their portfolio despite the beaten-down IT sector.
We believe that the extreme bubble is over for new-age stocks. Management is
aware that there won't be an unlimited supply of capital. Business models will
receive a greater amount of attention. While profitability will begin to rise,
I believe that growth will slow down. In order to determine whether these
business models are evolving and becoming profitable, I advised investors to
wait two to three quarters. Our top stock picks for 2023 include shares of HDFC
Bank, Hindustan Unilever, Max Healthcare Institute, Krishna Institute of
Medical Sciences, Chalet Hotels, Lemon Tree, Kajaria Ceramics, APL Apollo, and
Westlife FoodWorld in light of the current market conditions.
NIFTY SUPPORT: 17863,17217
NIFTY RESISTANCE : 18131,18212
FOR MONDAY LIVE MARKET TRADING TIPS WHATSAPP ME ON 7772909587
Friday, January 6, 2023
MARKET IS STILL VOLATILE: HOW TO MAKE MONEY ?
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