Nifty50 to touch 20,100, Bank Nifty to 45,700 in September: Ashish Kyal
Ashish Kyal, CMT, Founder & CEO of Waves Strategy Advisors, expects the Nifty50 to touch 20,100 and the Bank Nifty to 45,700 in September. He also sees double-digit returns from Godrej Properties and Affle India.
Kyal says that the Nifty50 has shown a smart rally from the lows of 19,230 and is likely to move to the Gann levels of 19,952 and 20,100. He believes that the index could touch 20,500 in the coming months, but it is more likely to consolidate around 20,100 before moving higher.
Kyal is also bullish on the Bank Nifty, which has been lagging behind the Nifty50 in recent months. He expects the index to break out to 45,700 in September.
The market expert is also positive on the IT sector, which has been outperforming the broader market. He expects the Nifty IT index to move to 35,000 and even 36,800 in the coming months.
Kyal is cautious on IRFC and Cochin Shipyard, which he believes are overbought. He recommends investors to avoid creating fresh longs in these stocks and wait for consolidation.
Kyal’s two picks for September are Godrej Properties and Affle India. He believes that both stocks have the potential to deliver double-digit returns in the coming months.
Overall, Kyal is bullish on the Indian stock market and believes that it is still a good time to invest. However, he advises investors to be selective and avoid overpaying for stocks.
Here are some of the key takeaways from the article:
- The Nifty50 is expected to touch 20,100 and the Bank Nifty is expected to 45,700 in September.
- The IT sector is expected to outperform the broader market and the Nifty IT index is expected to move to 35,000 and even 36,800 in the coming months.
- IRFC and Cochin Shipyard are overbought and investors should avoid creating fresh longs in these stocks.
- Godrej Properties and Affle India are two stocks that have the potential to deliver double-digit returns in September.
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