Nifty50 to touch 20,100, Bank Nifty to 45,700 in September: Ashish Kyal

| Leave a Comment | Markets

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.

Related News

  • 22 Sep

    Technical Analysis Report for Nifty and Three Buy Calls

    The Nifty index has been on a strong uptrend in the past three weeks, but it has recently retraced some of those gains. It is now expected to oscillate within the 19,605 to 19,878 range over the next few sessions. Three stocks that look good for buying over the next 2-3 weeks are Havells India, KSB, and Gujarat Ambuja Exports. All three stocks have strong bullish momentum and are trading above their key moving averages.

  • 22 Sep

    Maruti Suzuki Stock Gains on Bullish Stance from Global Brokerages

    Maruti Suzuki stock gains on bullish stance from global brokerages Shares of Maruti Suzuki India surged on Friday after global brokerages Citi and Morgan Stanley maintained bullish stance on the counter. Both brokerages cited the company's improving product mix and attractive valuation as key reasons for their optimism. In addition, Maruti Suzuki reported strong sales performance in August 2023, with total domestic sales jumping 14 percent year-on-year and sale of utility vehicles jumping 118 percent year-on-year. Overall, the bullish stance from global brokerages and the company's strong sales performance are providing a boost to Maruti Suzuki stock.

  • 22 Sep

    PNB Gilts Hits Upper Circuit on Inclusion of Indian Bonds in JPMorgan Index

    Shares of PNB Gilts hit upper circuit on September 22, 2023, following news that India's inclusion in JPMorgan's bond index is seen driving billions of dollars of inflows. The index provider will add Indian bonds to its widely-tracked emerging market index starting June 28, 2024. PNB Gilts is a primary dealer in government securities and other fixed-income instruments. The inclusion of Indian bonds in JPMorgan's index is expected to attract significant foreign inflows, which is likely to benefit PNB Gilts and other primary dealers in government securities.

  • 22 Sep

    Indian Bond Markets to Remain Stable in Near Term After JPMorgan Inclusion

    Indian bond markets are expected to remain stable in the near term after JPMorgan's inclusion of India in its widely tracked emerging market debt index, according to BlackRock's head of Asia Pacific fixed income, Neeraj Seth. Seth expects inflows of around $20 billion to $25 billion into India after the maximum weight threshold is achieved on the GBI-EM index. Given the size of the global government bond market, this is relatively small and is unlikely to have a significant impact on volatility.

  • 22 Sep

    Indian market drops on September 22 despite inclusion of Indian bonds in JP Morgan index

    Indian benchmark indices Sensex and Nifty fell for the fourth consecutive day on September 22, despite the inclusion of Indian bonds in the JP Morgan Government Bond Index-Emerging Markets (GBI-EM) global index suite from June 2024. The market is expected to remain volatile in the near term, with key support at 19,600 for Nifty.

Leave a Reply

Your email address will not be published. Required fields are marked *