During the second wave of Covid-19, banking and financial stocks received the maximum beating and most of the quality stocks of the sector got oversold
Stocks to buy today: Amid lack of selling interest shown by the stock market investors, experts are of the opinion that short-term trend of the market is still positive. They said that banking and financial stocks are expected to fuel the bulls’ sentiment in upcoming trade session and advised to look at Punjab National Bank (PNB), LIC Housing Finance and IDFC First Bank shares to buy today. They went on to add that these banking and financial stocks are available at discounted price and one can think of buying these stocks when the market opens today.
Speaking on the shares to buy today Avinash Gorakshkar, Head of Research at Profitmart Securities said, “During the second wave of Covid-19, banking and financial stocks received the maximum beating and most of the quality stocks of the sector got oversold. When the market is trading at its all-time high, investors are still not showing any selling interest. So, I would advise investors to look at the banking and financial stocks if they have any plan to buy any share today.”
Asked about the stocks that one can look at for buying Sumeet Bagadia, Executive Director at Choice Broking said, “One can buy PNB, IDFC First Bank and LIC Housing Finance stocks as they are looking strong on the chart pattern. One can buy PNB at current market price for the target of ₹50 maintaining stop loss at ₹41.”
On LIC Housing Finance shares Sumeet Bagaddia said, “Stock market investors can buy LIC Housing Finance stocks at around ₹475 for the target of ₹500 to ₹510. But, one must maintain the stop loss at ₹460.”
Sumeet Bagadia went on to add that IDFC First Bank is a trading stock and one can buy IDFC First Bank shares at around ₹60 for the target of ₹65 maintaining stop loss at ₹57.
