Nifty moves towards 17,200, these favorite shares of ICICI Direct can generate huge earnings

After the consolidation of the last several months, Nifty has shown decent growth in August. In the last week of August series, it touched a record high of Rs 16,712. The Nifty gained 5.44 per cent in the August series. IT, FMCG, banking & financial services and energy contributed significantly to this boom.

Market veterans are of the opinion that the September series may continue to rally and Nifty50 may cross the 17,000 level. Lately, we may get to see corrections and consolidation in between. There will be good buying opportunities in this correction and consolidation.

ICICI Direct says that going forward we will see a rise in large cap stocks, due to which Nifty may look further towards the revised target of 17,000-17,200.

Stock Mantra: These shares fell 25 percent in 6 months, but now can see a jump of 36%

ICICI Direct has said in a recent statement that during the last 15 months, the buying strategy has proved to be very good in the downtrend. It would be advisable to continue on this strategy in future also. Now after the 8 per cent rally of the last 4 weeks, the market can be seen stopping and breathing. Any such correction would be a good opportunity to build the portfolio from a fresh buy and medium term perspective in the market. ICICI Direct also says that Nifty will not break its important support of 15,900.

Meanwhile, after the heavy rally of the previous month, mid and smallcap stocks have seen a fall due to profit-making. In the August series, Nifty Midcap 100 declined 0.35 per cent and Smallcap 100 declined by 4.89 per cent. ICICI Direct says that this is a good consolidation for small and medium size stocks. At this juncture one should buy quality stocks in the mid and small cap space. Their outlook for the future is good.

ICICI Direct says that Bank Nifty also underperformed Nifty50 in the August series. During this period, Bank Nifty saw an increase of only 2.67 percent. Last month, Bank Nifty saw an extended consolidation of 34,500-36,300. Now this too has made a good base for the next rally. Further we can get to see the level of 37,700 in Nifty. On the downside, strong support is visible at 34,500.

Small & Midcap Mantra: This recently listed stock is expected to rally 20% in 3-6 months, what do you have?

ICICI Direct के Bargain buys

ICICI Direct has selected 31 shares as bargain buys. in this Axis Bank, HDFC Life, Reliance Industries, Tata Coffee, Tata Motors, Ashok Leyland, Thermax, Bharat Electronics, Sun Pharma, Cipla, Gokuldas Exports, Orient Cement, TeamLease, Cyient, Sobha, Graphite India And Mahindra Holidays names are included. These stocks are related to BFSI, Technology & Telecom, Consumption, Auto Capital Goods, Metal, Infra & Realty, Pharma and Chemical sectors. ICICI Direct is of the opinion that IT, telecom and consumption related stocks will see a rise in the coming months.

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