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    2 top stock recommendations from Aditya Agarwala

    Synopsis

    If I had to pick a stock within the banking space, there are couple of names one is Ujjivan Small Finance Bank. It looks very good on charts, even though the stock has run up in trade today but look at the volumes.

    Aditya AgarwalETMarkets.com
    The stock has been a mark outperformer continuously making higher highs, higher lows and recently went into a consolidation phase.
    "So all in all, if you look at these charts on a standalone basis, all these banks do look very attractive on charts and chances are high they would see another 4 to 5% upside in the coming week," says Aditya Agarwala, Invest4edu.

    First up, talk to us about the Bank Nifty. Do you expect those record high levels to come very soon?
    Absolutely. Look at the way markets are flying away, especially the Bank Nifty. My belief is above 44,000 if markets do sustain throughout the day today, we should be heading to 45,000 maybe in a couple of weeks time if not earlier. And the same is true for Nifty as well, if we continue to hold above 18400 chances are very high Nifty will also scale past levels of 18500-18600 as well within kissing distance of all time high again.

    And look at the midsize banks which are participating like crazy. You name it, be it AU Small Finance Bank or a Federal Bank, all the PSU names like SBI or the Bank of Baroda, everybody is chipping in and IndusInd Bank as well.

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    So all in all, if you look at these charts on a standalone basis, all these banks do look very attractive on charts and chances are high they would see another 4 to 5% upside in the coming week.

    Talk to us about the specific stocks from the banking space you highlighted a couple of them but if you had to take the best bet within banking, what would that be?
    If I had to pick a stock within the banking space, there are couple of names one is Ujjivan Small Finance Bank. It looks very good on charts, even though the stock has run up in trade today but look at the volumes. It is backed by extremely healthy volumes. So I believe at current levels, one can again look at a Ujjivan Small Finance Bank if somebody has to look at a bank. AU Small Finance Bank also looks very attractive on charts. Having said that, there are more pockets where there is buying seen clearly and I believe one can also look at those pockets be it the IT names, the midcap IT names, the real estate, as whole host of names, you name it and they are moving higher.

    Let us talk about those midcap IT and the other top recommendations that you have?
    If I have to pick an IT name at current levels, maybe I will look at a Tech Mahindra. After a decent correction the stock went into a consolidation phase and now, the stock is witnessing good buying in trade today already up 2% on good volumes. Look at the volumes and in first half the trading session, volumes are pretty encouraging for the stock.

    At current levels I believe one should definitely look at adding on to the stock in the portfolio, maybe for a trading bet as well for an immediate target of Rs 1090 to about Rs 1100 on the upside with the stop loss at Rs 1045.

    Second stock is KIMS. The stock has been a mark outperformer continuously making higher highs, higher lows and recently went into a consolidation phase. At current levels I believe one should look at the stock, for a target of Rs 1600 on the upside with a stop loss at Rs 1500 on the downside.




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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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