Lok Sabha elections 2024 trading: The Indian stock market is volatile ahead of Lok Sabha election 2024 results on June 4. Experts suggest buying quality stocks with healthy fundamentals amidst market uncertainty.
Auto stocks have surged due to robust sales expectations in FY25, driven by a revival in the rural market and stable raw material prices. Two-wheeler market may outshine other segments. Experts anticipate continued growth in the medium-to-long term, with positive outlook for auto companies.
HDFC Bank s technical analysis suggests bullish momentum with higher lows and promising candle formations. Analysts anticipate a breakthrough above resistance at Rs 1525, targeting Rs 1560. Option strategies like Bull Call Spread are recommended for potential upside gains.
Indian blue-chip indices, BSE Sensex and Nifty50, hit new record highs on Monday driven by Tata Steel, Bharti Airtel, JSW Steel, NTPC, HDFC Bank, and Kotak Bank; Wipro, Maruti, M&M, Asian Paints, and Power Grid opened lower. Adani Ports surged 3% after joining Sensex.