Stocks to buy: The Indian stock market has shown remarkable resilience despite concerns over valuation and election-related uncertainties. Benchmarks Nifty 50 reached a new high of 23,043.20, and Sensex set a fresh peak at 75,679.67 in morning trade on Monday, May 27.
Experts expect the benchmarks to sustain gains. However, as the Lok Sabha election result day draws closer, there could be short-term volatility.
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According to Ajit Mishra, SVP of research at Religare Broking, the market’s buoyancy over the last two weeks has countered the previously bearish sentiment. The Nifty is expected to move toward the 23,150-23,400 range soon.
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“In the event of a dip, the 22,550-22,800 zone is expected to provide strong support. While all key sectors are contributing to the rally, banking and IT still have significant upside potential, and their participation could drive the index to much higher levels. We recommend continuing a stock-specific trading approach, favouring large and mid-cap stocks for short-term trades,” said Mishra.
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