Best 5 Stocks to Buy for 2023

The New Year has arrived and a new wave of investment too. The year 2022 was a whirlwind for the investors but overall gave good returns. This year too brings in an optimistic approach with some sectors showing an uptrend from the long term perspective. Auto, FMCG, IT are expected to be the most desirable for investment purposes. The top 5 stocks for 2023 are discussed by our research expert, Mr. Sumeet Bagadia.

Best Stocks to Buy in 2023 By Sumeet Bagadia

1 - India Tobacco Company Limited: (NSE: ITC)

ITC was a stock that we recommended last year and it did well too. Investors had a gala time and this year too we are expecting an uptrend in this stock. The Current Market price of the stock is in the range at 330 levels and every dip looks like a buying opportunity. The RSI has also consolidated which again is a strong indication of an upward move.

CMP: Rs. 330
Target : Rs. 380 - Rs. 400

2 - Bharat Electronics Ltd (NSE: BEL)

The other stock that looks promising is BEL. Currently, the charts indicate a sideways move, however, we can expect a positive move of 20-25% in this year. Since, the stock has taken a rally and then moved sideways, it makes it even more desirable to have in your portfolio. A dip at 92 levels is also recommended to buy.

CMP: Rs. 100.40
Target 1: Rs. 114
Target 2: Rs. 120

3 - Titan Company Ltd (NSE: TITAN)

The next stock that should be a part of your portfolio is Titan. Witnessing a small correction currently but worth a buy. A small dip of 2-3 % is also a buying opportunity until the level of 2500 has not crossed. MACD & RSI are indicating strong moves upwards.

CMP: Rs. 2618
Target 1: Rs. 2800
Target 2: Rs. 2850

Mahindra And Mahindra Ltd (NSE: M&M)

The auto sector showed a correction previously and now it may be good times to relish and fetch returns as Mahindra & Mahindra looks strong. A dip at around 1225 levels looks like a buying opportunity. Stock is in uptrend and is expected to hold until 2030 with the below given targets in mind.

CMP: Rs. 1250
Target 1: Rs. 1360
Target 2: Rs. 1390

Infosys Ltd (NSE: INFY)

The fifth stock that we recommend is a strong stock of the IT sector. The sector has shown a consolation and has not given its best performance in the last year but in the past 1-2 months the sector has shown a bounce back and therefore, we recommend Infosys. The stock may observe a fall till 1480 levels which would act like a buying opportunity. As soon as there would be a pull back or bounce back, Infosys would take the upside rally as it is close to 200 DMA level and it shows a breakout it will move in the positive trend soon.

CMP: Rs. 1520
Target 1: Rs.1725
Target 2: Rs. 1760

Long term investments do not give immediate returns but are by far a wealth creation weapon to every investor. But yes keep in mind that there should be enough room for averaging too.

These calls have been recommended from a long term view. For other such recommendations on short-term and mid term view, you can visit our website or log in to our YouTube channel. For those investors, who have not yet registered with us , you can open a free demat account and register with us within few minutes.

Also, these are recommendations subject to market volatility. Before taking any decision on investing, a thorough research is advised. Stay connected with us to continue receiving recommendations from our research specialists on the best stocks to buy for intraday, short-term and long-term investments.

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