Axis Direct Recommends Buy-On-Dips Strategy for Key Industries in August
Axis Direct has released its August stock picks, covering 44 sectors and recommending a buy-on-dips strategy for several key industries.
The BSE Bank index is considered bullish, with stocks like RBL Bank, AU Small Finance Bank, Federal Bank, ICICI Bank, and IDFC FIRST Bank expected to perform well. The index has been approaching an overhead resistance zone of 66,300-66,500 levels and may break through to 68,000-69,000 levels in the upcoming months.
The BSE Capital Goods index is also seen as bullish, with stocks like Bharat Forge, Siemens, AIA Engineering, Thermax, Hindustan Aeronautics, and Honeywell Automation India expected to see growth. The index has been in a corrective mode but may extend towards 84,000-85,000 levels.
The BSE Realty index is showing a short-term uptrend, with stocks like Phoenix Mills, Prestige Estates Projects, Godrej Properties, Lodha, and DLF expected to perform well. The index has formed a series of higher tops and bottoms and may rally towards 7,400-7,700-7,800 levels.