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Discover Bajaj Broking Research Desk's Curated Stock Basket Portfolio for August 2024, designed to yield a 23-25% return. This blog delves into market trends and detailed stock recommendations.
Investing in the share market today can be likened to embarking on an adventurous journey. The stock market, with its highs and lows, offers numerous opportunities for those equipped with the right knowledge and strategy. With the insights provided by Bajaj Broking Research Desk’s latest report on the "Top Picks Portfolio Basket" for August 2024, you can navigate this thrilling ride with confidence. This blog will delve into the details of this report, offering a detailed look at the top stocks to buy, covering various investment amounts, and highlighting key aspects of these top picks.
The global equity market has shown signs of caution in recent weeks due to tepid economic data from the US, rising jobless claims, and contracting manufacturing growth. These factors have stoked fears of a possible recession and delayed interest rate cuts by the Federal Reserve. Additionally, geopolitical tensions in the Middle East and concerns over a reverse Yen carry trade have added to the market's volatility.
Despite these global headwinds, the Indian stock market has remained resilient. Driven by robust domestic demand for equity, India stands out as one of the few markets globally with healthy demand for shares. Bajaj Broking anticipates the Nifty index to trend upwards towards the year-end target of 25,800-26,000, with key support levels at 23,500-23,000.
Bajaj Broking's "Top Picks Portfolio Basket" is designed to outperform the market with an expected average return of 23-25% over a one-year horizon. The Bajaj Broking Research Desk has also called out that there should be a stop loss of 13% at the portfolio level. This portfolio comprises carefully selected stocks across various sectors, each chosen based on extensive techno-funda research. Please note that the time horizon for this portfolio basket is 1 year.
Below are individual stocks mentioned with desired targets and weightage in the portfolio:
Zomato share price is currently trending at ₹ 275.85, up by 3.04% as of 11:12 AM, on September 11th, 2024.
At 12:50 pm on 12 September, Zomato Ltd's share price increased by 3.90% to ₹282.35 on NSE, continuing its impressive rally with the stock rising 17% over the past five sessions.
Company | Sector | Current Price (₹) | Market Cap (₹ Cr.) | Target Price (₹) | Weight | Upside Potential |
Banking | 1601.2 | 12,38,566 | 1940 | 11% | 21.20% | |
Banking | 797.7 | 7,32,309 | 1020 | 11% | 27.90% | |
FMCG | 2750.05 | 6,45,221 | 3280 | 9% | 19.30% | |
IT-Software | 1582.75 | 4,35,109 | 1920 | 11% | 21.30% | |
E-commerce | 249.08 | 2,33,567 | 340 | 9% | 36.50% | |
Realty | 820.7 | 2,07,431 | 1070 | 11% | 30.40% | |
IT-Software | 1483.4 | 1,45,799 | 1820 | 10% | 22.70% | |
Pharma | 1351.65 | 23,991 | 1660 | 9% | 22.80% | |
Chemicals | 948.65 | 11,964 | 1188 | 10% | 25.20% | |
Defence | 1232.3 | 4,840 | 1560 | 8% | 26.60% |
The Bajaj Broking Research team has handpicked the stocks after undergoing extensive Techno-Funda research across a universe of stocks listed on the NSE. The specified universe undergoes various screeners based on broad technical concepts encompassing price structure analysis, relative strength ranking, Dow theory, and in-house bottom-up model.
We stick to companies with credible business history over business cycles, reasonable business model with decent management pedigree, and robust balance sheet.
Additional Read: Top AI Stocks in India
While this will help you create a comprehensive portfolio basket there are certain key details that you should keep in mind before you invest in these stocks.
Date of Recommendation: 7th August 2024
Profit Target: 23-25% at Portfolio Level
Stop Loss: 13% at Portfolio Level
Benchmark: Nifty500
Navigating the share market today requires a strategic approach and informed decision-making. Bajaj Broking's "Top Picks Portfolio Basket" offers a well-researched and balanced portfolio expected to yield an average return of 23-25% over a year. By investing in these top stocks, investors can capitalize on the opportunities presented by the Indian stock market's resilience and robust domestic demand.
Remember, investments in the stock market are subject to market risks. It is crucial to consult with financial advisors and consider individual risk tolerance before making investment decisions. Stay updated with the stock market today and make informed choices to make the best of your investments.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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