44 bullish & bearish stock picks across sectors for August by Axis Direct
In August, Axis Direct introduces 44 stock recommendations, advocating a buy-on-dips approach. The banking, capital goods, and realty sectors exhibit promising technical patterns for investors. Additionally, consumer durables, healthcare, power, and auto sectors are projected to perform well. However, a selective caution is suggested for FMCG, metals, and oil & gas stocks as the brokerage…
In August, Axis Direct released a stock pick report for the month, highlighting bullish and bearish opportunities across various sectors. For banking, the brokerage recommended investing in RBL Bank, AU Small Finance Bank, Federal Bank, ICICI Bank, IDFC FIRST Bank, and approaching the BSE Bank index's overhead resistance zone of 66,300-66,500 levels.
In the capital goods sector, companies like Bharat Forge, Siemens, AIA Engineering, Thermax, Hindustan Aeronautics, and Honeywell Automation India were selected for a buy-on-dips strategy, with the index expected to rally towards 84,000-85,000 levels. The realty sector had a cautious approach, with only selective stocks recommended due to FMCG, metals, and oil & gas showing broader technical resilience.
In the consumer durables, healthcare, power, and auto sectors, a buy-on-dips strategy was advised, with important support zones to watch around 64,000-63,000-62,000 levels. The weekly price action in the energy sector formed a series of higher tops and bottoms, indicating a short- to medium-term uptrend. Investors were advised to use price corrections to accumulate quality stocks around major support zones, with a significant move towards 7,400-7,700-7,800 levels if the index sustains above 7,100 levels.
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