Winning Strokes

The BSE Sensex was last seen trading at 59,060.28 down 12.00 points (-0.08%), while the  Nifty was seen consolidating above the supports. The Nifty50 was seen trading at 17,507.20 up 10.45 points (+0.06%). Photo: Squareoff.in

Yesterday, the Dow Jones closed flat hinting that the US Fed might either trim down their interest rate brinkmanship or maintain status quo, to gauge the previous interest rate hikes over a period. It is a known fact the effects of any monetary tightening policy acts with a time lag. The US economy is doing fine and so is India's, and all those hoopla surrounding an impending recession is just a media speculation. Hence, buy good quality stocks from the happening sectors and keep holding.

#The energy prices are shooting over the roof, with the Crude Oil basket within an arms length of touching $100 per barrel. In such circumstances, try to be long on Crude Oil related counters.

My old favour, MRPL (Rs.59.90) is already up more than 3%. So, keep eye on (accumulate) the shares of India's largest oil exploration company in the private sector, Aban Offshore Ltd (Rs.50.20). You my also add the stock of ONGC Ltd (Rs.129.75) to your list.

#The shares of wind energy company, Indowind Energy Ltd (Rs.15.90) hit 🎯 another buy freeze. We can look forward for targets of Rs.32/37 in the coming days.

#The textile sector is all set to do well in the near future due to arrival of fresh cotton at reduced prices.

The government of India is expected to come up 2nd PLI scheme, very soon. Moreover, the depreciation of INR Vs USD will bring additional revenues for the export oriented Textile companies like Nahar Spinning Ltd (Rs.297.55), Trident Ltd (Rs.34.65), Nitin Spinners Ltd (Rs.209), etc.

# The hotel and restaurant stocks are expected to do very well in future. I have already recommended some names on Twitter, kindly accumulate the shares of those companies.

#Some of the bank stocks like my old favourite Central Bank Ltd (Rs.20.20) are moving up due to operator action. In a rising interest rate scenario it is always advisable to stay clear from Banking counters, as their loan books might shrink and NPAs might rise due to higher interest cost.

#The stocks from the sugar sector, are expected to rally in the near future since as per media reports, the government is contemplating to allow sugar exports. Moreover, the ongoing fesrival season will keep the sugar market buoyant. I've already recommended the scrip of Bajaj Hindustan Ltd (Rs.10.40).

#The monsoon clouds have almost receded from the horizon, giving way to pleasant autumn. 

The construction activities have again started to gain momentum. Today, I've recommended Indiabulls Real Estate Ltd at Rs.75.20 on Twitter.

You may also continue to accumulate, Dilip Buildcon Ltd (Rs.219) and Patel Engineering Ltd (Rs.21.80).