Top Stocks to Buy – Hindustan Oil Exploration - Crude oil is the theme for next week as prices hit record highs, analyst Avinash Gorakshakar says

The beginning of July series was eventful as the Nifty 50 ended the week at 15,860.35 on Friday while the BSE Sensex ended at 52,925.04 gaining over 226 points. While the former has managed the second-best closing of all time, Sensex ended at a lifetime high on the closing basis, much near to the 53,000 mark. The mid cap and small cap stocks were also among the action

Stock Market Analyst Avinash Gorakshakar expects the July series to be very strong despite chances of some weakness in the Q1FY22 earnings results

The beginning of July series was eventful as the Nifty 50 ended the week at 15,860.35 on Friday while the BSE Sensex ended at 52,925.04 gaining over 226 points. While the former has managed the second-best closing of all time, Sensex ended at a lifetime high on the closing basis, much near to the 53,000 mark. The mid cap and small cap stocks were also among the action.

If the mood and the global cues are intact over the next week, one could see new record highs, Zee Business Managing Editor Anil Singhvi said in his weekly outlook.

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Metal and Baking Index gained significantly at the beginning of the July series. Tata Steel was the top gainer on Nifty 50 on Friday.

Stock Market Analyst Avinash Gorakshakar expects the July series to be very strong despite chances of some weakness in the Q1FY22 earnings results. He said that the current market mood looks upbeat in the wake of an aggressive vaccination drive and decline in the fresh cases. He said that the 16,000 level in Nifty was a strong possibility.

There has been significant buying in the cash stocks. He sad that crude oil is a good theme for investors to take a call during the next week. He said that the crude oil prices are touching record highs.

Top Stocks to Buy – Hindustan Oil Exploration Company Limited - Avinash Gorakshakar picked Hindustan Oil Exploration. This stock ended at Rs 123 on Friday on the NSE, gaining by almost 5 per cent. He puts the target price at Rs 134 while the stop loss at Rs 116. He has an 8-10-day view on this stock.

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The 52-week high for Hindustan Oil Exploration Company Limited stock is 124.80 which this stock achieved in 11 May 2021. This stock is near its lifetime high levels. Meanwhile, the 52-week low for this stock is Rs 60.35 which this stock hit on 2 November 2020.

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