Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 24%

Synopsis

Last few days of movement of the Nifty and Sense will make a number of people forget about what happened in March this year. The fact is that when valuations are high and they are even if takes into account the Q4 numbers. The probability of volatility hitting the street is always high. So, it would be better to stay ready for volatility both for domestic and global reasons. At this point of time, one cannot rule out sudden profit booking which can bring more damage to stock prices in the mid-cap segment. In such times, if one is taking fresh exposure to equity, ensure that there is some level of quality as far as the business and fundamentals are concerned. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time.

As the market continues to move from fairly valued to overpriced territory, as an investor it would be better to focus on fundamentals and continue to apply more filters while buying stocks. The reason, small corrections in broader market indices can lead to sharper cuts in individual stock prices but there is a fundamental reason why the sector and the stock is moving upward, there is a higher probability that even if the market witnesses

ETMarkets.com

Jun 17, 2024, 01:29:00 PM IST

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