Stocks markets are witnessing high volatility not just in India but across the globe and is looking for directions, market expert Sandeep Jain opines. Despite the domestic markets ending on a weaker note on Friday, there were opportunities in the mid cap and small cap segment, he added.

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The expectations are that markets would go into the Budget 2022 much lighter now, he further said. The Union Budget 2022 announcements will be held on 1 February (Tuesday).  

Indian stock markets traded with high volatility of Friday which was also the last trading day of the week and also the beginning of February series. BSE Sensex ended in the red at 57,200.23, going down by almost 76 points or 0.13 per cent. Meanwhile, the broader market Nifty50 was also down marginally from the Thursday closing price. It ended at 17,101.95, down nearly flat or by 8 points. 

While Nifty50 gained almost 100 points in the intraday trade, the last one hours witnessed significant profit bokking at top levels. 

Nifty Bank ended at 37,689.40, down by over 290 points or 0.8 per cent. However, mid cap stocks were the gainers and Nifty MidCap100 index settled 1.5 per cent up or higher by 440 points at 29,804.90. 

The Foreign Institutional Investors (FIIs) were net sellers and sold Indian equities worth over 5045 cr. The Domestic Institutional Investors (DIIs) bought equities worth Rs 3358 cr. 

He said that expectations are riding high this time on this annual affair and if this come as per the desires of sectors, things could improve for the stock markets. And if it does not comes, then too things have been discounted, the Tradeswift Director tells Zee Business.  

His advice is to investors is to remain light. He has recommended three stocks for Monday – each from the intraday perspective.  

Stocks to Buy – Tata Consultancy Services – His first stock from the Futures & Options (F&O) segment.  The IT stocks have seen correction, which works for investors. It was recommended at a price around Rs 3690.05 for the price targets of Rs 3760 and Rs 3770. He puts the stop loss at Rs 3660. 

Stocks to Buy - Subros Limited - Another stock picked by him was Subros which was with a positional term view. He said that auto ancillary segment is expected to o well and we can expect some announcements for the automobile sector in the upcoming budget. It was recommended at a price of Rs 370. The price target is Rs 430 while the stop loss is Rs 340. 

(Disclaimer: The views/suggestions/advices 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.)