Best Stock to Buy: Top Investment Opportunities in July 2023
Best Stock to Buy: Top Investment Opportunities in July 2023: Indian equity market sentiments are very strong, as indices are at record-high levels. The FIIs inflow, progress in good monsoon, and strong economic data favored the domestic markets in 2023. The market experts feel that Nifty could touch 19900-20000 very soon. If the global market supports then we might even see Nifty beyond the 20000 level also.
Best Stock To Buy
The Research-based broking house “Prabhudas Lilladher” has recommended to buy the stock-Indian Energy Exchange (IEX). It is the premier electricity exchange in India, a system-based power trading exchange regulated by the Central Electricity Regulatory Commission (CERC). The stock comes under the Banking and Finance sector, Industry-Exchange.
The share price of IEX is trading at Rs 124.40 per share on NSE on 17th July around 12.30 pm. The stock has touched a 52-Week high of Rs 175.8 and a low of Rs 116. In the last month, the stock has given a 0.8% return and made a high of Rs 132.5 on the NSE.
Recently, the share price of IEX has witnessed a decent correction, it has taken a support near 120 levels which is an important base. The RSI of the stock has also indicated a trend reversal from near the oversold zone to signal a buy. The IEX stock is now well placed for an upward movement according to the top broker Prabhudas Lilladher.
On 17 July 2023, the analyst of Prabhudas Lilladher said the stock is technically strong and recommended the stock to buy and accumulate for an upside target of Rs 150 keeping the stop loss of Rs 116.
Also read: Gift Nifty: The Rebranded SGX Nifty Starts Trading July 3rd
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