Stock Investment Tips: While the stock market continues to make new highs, investors can still make money in certain stocks. Here we discuss three stocks to buy next Monday, one each from IT, FMCG and auto mobile companies. Due to the global market sentiment, a healthy trend has been seen in the market. On Friday, the Nifty 50 index touched an all-time high of 19,201, while the BSE Sensex touched an all-time high of 64,768. Bank Nifty also reached 44,787 on Friday. Nifty is likely to trade in the range of 19,600 to 19,700 in the near term. It is very important for the Nifty to stay above 19,200 for the market to accelerate.
Infosys Shares: Infosys is one of the recommended investment stocks for the coming week. This stock can be bought around 1335. Infosys has a target of Rs 1430. The stoploss for this stock will be Rs.1277. From the current market condition and technical analysis, it can be said that Infosys shares can go up sharply. Currently, the stock has broken the 50 day exponential moving average. The stock is undergoing a bullish trend reversal which shows that investor interest has increased.
Moreover, Infosys shares have been hitting higher lows since mid-April. This pattern shows that the prices may move higher in the near term. Keeping these factors in mind, a cash buyout can be made at Infosys at current prices.
Hero MotoCorp Share: Similarly, Hero MotoCorp share is advised to buy around 2940. The target price of this stock is 3050. Hero MotoCorp shares can be bought with a stoploss of Rs 2,845. On the daily chart, the stock is trading in a higher higher-higher lower pattern. The stock has support near 2800. A major resistance for the stock can be seen near 2930 to 3935 levels. Hero MotoCorp shares are trading above 20 and 40 EMA. Currently its RSI is above the 60 level. Taking all these parameters into consideration, a target price of 3050 would be right for Hero MotoCorp.
Marico has a buy recommendation around Rs 530. You can buy this stock next week with a target price of Rs.560. There is a recommendation to maintain a stoploss of Rs 515 on Marico shares. The stock has moved up sharply and has had a breakout. If this stock goes below 515 then it is advised to sell it.