Table of Contents
What are the Best Stocks to buy in 2023?
Finolex Cables
Divi’s Lab
Latent View Analytics
M&M Finance
ITC
Cipla
Grasim Industries
Mahanagar Gas
Oberoi Realty
ICICI Bank
Tata Motors
Gujarat Gas
Bandhan Bank
Godrej Consumer Products
Hindustan Unilever (HUL)
Godrej Properties
Petronet LNG
Conclusion
Do you want to know about the top stock in 2023 to invest on? The Indian stock market experienced mixed trading sessions, with fluctuations between gains and losses. While the Nifty and Sensex corrected in the last session, small-cap and mid-cap indices reached new highs. Expert recommendations play a crucial role in guiding investors and traders in the stock market. Before investing in any stock in 2023, it is advisable to consult with a financial advisor or conduct further research to make informed decisions. Here, we have analyzed the top stocks to buy in 2023, asrecommended by experts like Mitessh Thakkar, Sukhani, and Rajesh Palviya.
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What are the Best Stocks to buy in 2023?
Here is an analysis of stocks based on expert recommendations and market trends.
1. Finolex Cables
As suggested by Vaishali Parekh, Vice President – Research at Prabhudas Lilladher, Finolex Cables is one of the intraday trading stocks to consider. It is important to conduct further analysis before making any investment decisions. Traders should monitor the stock’s price movement and consider the support and resistance levels mentioned in the article.
2. Divi’s Lab
Another intraday stock in 2023 recommended by Vaishali Parekh is Divi’s Lab. Investors should conduct their own research, considering the stock’s fundamentals and technical indicators to evaluate its potential for intraday trading.
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3. Latent View Analytics
The third intraday stock in 2023 mentioned by Vaishali Parekh is Latent View Analytics. Investors interested in this stock should analyze its financials, market position, and growth prospects before making any investment decisions.
4. M&M Finance
Recommended by Sumeet Bagadia of Choice Broking, Mahindra and Mahindra Financial Services (M&MFIN) is expected to perform well in the upcoming week. This stock in 2023 has recently broken through its resistance level, indicating potential upward movement. Investors could consider buying M&MFIN at or below ₹305, setting a target of ₹317, and monitoring the stop loss level of ₹298.
5. ITC
ITC has experienced a breakout and is showing bullish signs, according to Sumeet Bagadia. Traders could initiate a buy position at the current level (around ₹453) with a target of ₹479. It is important to set a stop loss level below ₹439 to manage potential risks.
6. Cipla
Cipla is another stock recommended by Sumeet Bagadia. With a strong support zone around ₹970 and positive technical indicators, the stock in 2023 has the potential to rise further. Traders may consider entering a long position at or near the current market price (CMP) of ₹1006. The target range for Cipla lies between ₹1040 and ₹1045, with a stop loss level at ₹975.
7. Grasim Industries
Mitessh Thakkar suggests a buy call on Grasim Industries, with an upside target of Rs 1,835 and a stop loss below Rs 1,765. Grasim Industries’ shares have gained over 3 percent in the last month, indicating positive momentum. Investors can consider monitoring the stock’s performance, technical indicators, and market trends to evaluate the potential for achieving the stated target.
8. Mahanagar Gas
Mitessh Thakkar recommends buying Mahanagar Gas, setting a price target of Rs 1,075 and a stop loss at Rs 1,034. While the stock in 2023 has remained flat over the last month, it presents a potential opportunity. Investors should conduct further research, considering the stock’s fundamentals and market dynamics, to validate the investment thesis.
9. Oberoi Realty
Mitessh Thakkar identifies Oberoi Realty as another buying opportunity. He sets a target of Rs 1,070 with a stop loss at Rs 987. Over the past month, Oberoi Realty shares have gained over 3 percent. Investors should carefully analyze the stock’s financials, real estate market trends, and other relevant factors before making any investment decisions.
10. ICICI Bank
Mitessh Thakkar suggests selling ICICI Bank, with a downside target of Rs 906 and a stop loss at Rs 945. While the stock in 2023 has remained flat over the last month, the expert believes it may experience a deeper correction. Investors should consider the risk factors associated with short-selling and closely monitor the stock’s performance.
11. Tata Motors
Sukhani identifies a buying opportunity in Tata Motors, advising traders to maintain a stop loss at Rs 555. With shares gaining over 7 percent in the last month, the stock in 2023 demonstrates positive momentum. Investors interested in Tata Motors should conduct further research, considering the company’s financials, automotive industry trends, and global market conditions.
12. Gujarat Gas
Sukhani suggests an intraday short on Gujarat Gas, with a recommended stop loss at Rs 490. While shares have remained flat over the last month, Sukhani believes the stock in 2023 may present a trading opportunity for a downside move. Traders should closely monitor the stock’s price action and market sentiment before initiating any short positions.
13. Bandhan Bank
Sukhani identifies Bandhan Bank as another potential intraday short, advising traders to place a stop above Rs 262. With the stock up more than 3 percent in the last month, Sukhani believes it might undergo a deeper correction. Traders should exercise caution and closely monitor the stock’s price movements and market conditions.
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14. Godrej Consumer Products
Sukhani identifies Godrej Consumer Products as a buying opportunity. With shares gaining more than 5 percent over the last month, the stock in 2023 displays positive momentum. Investors should assess the stock’s fundamentals, industry trends, and market conditions before considering an investment.
15. Hindustan Unilever (HUL)
Rajesh Palviya provides a buy call on Hindustan Unilever (HUL) with a price target of Rs 2,740-2,760 and a stop loss at Rs 2,645. While HUL shares have remained flat over the last month, Palviya sees potential upside in the stock in 2023. Investors should analyze the company’s financials, consumer trends, and competitive landscape to evaluate the investment opportunity.
16. Godrej Properties
Rajesh Palviya also recommends buying Godrej Properties, setting a target range of Rs 1,560-1,570 with a stop loss at Rs 1,470. With shares up more than 8 percent in the last month, the stock in 2023 exhibits positive momentum. Investors interested in the real estate sector should conduct further research, considering the company’s projects, financials, and the overall market sentiment.
17. Petronet LNG
Rajesh Palviya expresses positivity toward Petronet LNG, stating that the stock in 2023 has shown good buying interest. He suggests keeping a stop loss at Rs 226 and setting a target range of Rs 245-250. With shares gaining more than 6 percent over the last month, the stock demonstrates potential for further upward movement. Investors should assess the company’s financial performance, LNG market dynamics, and regulatory factors before making investment decisions.
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Conclusion
It is evident that several stocks have been recommended for intraday or short-term trading. However, it is crucial to conduct thorough research and analysis. Investors should consider the stock’s fundamentals, technical indicators, market trends, and their own risk tolerance before making any investment decisions. Consulting with a financial advisor or conducting additional research would be advisable to make well-informed investment choices.
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