With BJP poised for a strong victory in the exit polls, market experts like Anil Singhvi foresee a bullish Monday for Nifty, potentially hitting 22800 levels. Amid optimistic indicators post exit polls and Modi 3.0’s portfolio preparations, lucrative money-making opportunities await savvy investors.
Anil Singhvi’s opinion post exit polls and Modi 3.0’s portfolio preparations offer money-making opportunities
The recent exit polls are indicating a strong victory for the BJP, with projections suggesting a win of 360-400 Lok Sabha seats for the NDA. This has created a positive buzz in the market, with the Nifty closing at 22531 points the previous week. Market expert Anil Singhvi is foreseeing a potential rally on Monday, with Nifty levels possibly reaching 22800.
On the economic front, there have been positive developments as well. The GST collection for May saw a 10% increase to Rs 1.73 lakh crore, indicating growth in revenue. Additionally, the FY24 GDP growth rate stood at 8.2%, which has further boosted market sentiment.
Looking ahead, HDFC Securities MD is optimistic about the NDA winning 350-370 seats and is eagerly awaiting the final election results on June 4. Post-election focus is expected to shift towards sectors like BFSI, capital goods, and telecom, with the rural economy likely to benefit the FMCG sector.
Market analyst Anuj Singhal is advising investors to consider India’s growth story post exit polls for the next 5 years. He suggests investing in equities and buying on every market dip, recommending to have 50% of the portfolio in equities.
Traders have been advised to take advantage of the current scenario by buying on dips, especially as Foreign Institutional Investors (FIIs) are in record shorts, potentially leading to short covering after the market opens. It’s recommended to invest in shares related to the domestic economy for the next 5 years, with hedging in Pharma, IT, and Metal shares.
During market downturns, investments in government companies, real estate, cement, defense, and railway shares have been recommended. Sectors like infrastructure, capital goods, construction, auto, and FMCG are also being considered promising for investments.
It’s important to note that all these recommendations are personal opinions, and it’s always advisable to consult a financial advisor before making any investment decisions.
