These largecaps have ‘strong buy’ & ‘buy’ recos and upside potential of over 20%

Synopsis

After a correction which has been caused by both domestic and global events, Nifty is once making an attempt to move into a range bound mode. During this period, one should keep an eye on market breadth as it would give a more reliable indication of what is in store both in short and long term for Indian equities. During this period analysts are bullish on certain large cap stocks. Stocks from different sectors are making to the list, this week, stocks from Oil refining and marketing, private banks, insurance, auto ancillary and fertilizer space. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.

After all the corrections and global events, the sentiment is still in favour of bulls. While sentiment might push one to ignore the valuations, but finally markets are governed by earning and money which is chasing those earnings. When markets are trading with strong bullish bias, some of the stocks which are long term wealth creators tend to move off from the list of algorithm based stock buying lists. The reason, the potential upside in them
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