Stocks to Buy on Monday – Analyst recommends Mphasis, National Aluminium Company as intraday, positional picks for gains

Indian markets witnessed a bull run in 2020 and 2021 and rewarded the investors, market expert Shrikant Chouhan says. The markets He expects 2022 to be an equally rewarding year for the investors. Over a 1-year period, the upside has been almost 24 per cent.

The stock markets have witnessed a broad-based rally, and when that happens, the investors are able to make money across the sectors, he further said.

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He was also of the view that the investors will keep an eye on this year’s top triggers which include, UP elections, Union Budget 2022 and the quarterly results of the companies.

The market ended the year on a high note, too and Chouhan expects the trend to only pick up from here. On Friday, the BSE Sensex ended at 58,253.82, up over 459 points or 0.80 per cent from the Thursday closing price. Meanwhile, the Broader market Nifty50 ended at 17,354.05, up over 150 points or 0.9 per cent. The domestic markets saw actions in almost all segments.

The analyst said that Nifty50 has been able to maintain the levels around 17,000 despite adverse news from the Omicron front. A breakout was seen in the start of the January 2022 series, he added. Technically, the market has ended above the previous week high of 17,250.

The next important level for the 50-share index will be 17,650 which is also a previous month high. This could be the next target for Nifty50.

As for the Call writing, the shifting is now from 17,500 to 17,700-18,000, he said.

Any correction from current levels will open opportunities for fresh long positions, he added.

He recommends two stocks for Monday – one with an intraday view while the other with positional term view. He recommended technology stock for buying citing an ongoing momentum in this segment.

mPhasiS: Buy| LTP: Rs 3399| Target: Rs 3550| Stop Loss: Rs 33400| Upside 4-5%

 He recommended a buy in this stock with a long term view. The stock has undergone a good short term breakout pattern, he said.

National Aluminium Company: Buy| LTP: Rs 100| Target: Rs 110| Stop Loss: Rs 95| Upside 10%

Another stock picked by him was National Aluminium Company Limited. He said that this stock is poised for an upside up to Rs 110.

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)