Best Shares for 2023: Due to better investment from foreign investors, Nifty has outperformed global indices like itself with a gain of about 4 per cent in 2022.
Foreign funds have returned to equity markets from July 2022. They have become net buyers of Rs 84,000 crore.
Meanwhile, brokerage ICICI Direct believes that inflows from foreign investors will remain strong due to India’s consistent performance.
Meanwhile, ICICI Direct has selected six good stocks for 2023, which can give you good returns next year.
Bharat Forge
The buying range for Bharat Forge is Rs 875 to Rs 900. The target price for this has been kept at Rs 1,150.
That is, it has an upside potential of 30 per cent. At the same time, the stop loss for this is Rs 1330.
Stop loss means you have to exit by selling the stock if it falls to this level. Bharat Forge’s stock has given a return of 26.23 per cent in 2022.
Multi-Commodity Exchange (MCX)
The buying range for Multi-Commodity Exchange has been given at Rs 1610 to Rs 1655.
The target price for this has been kept at Rs 2150. That is, it has an upside potential of 30 per cent.
At the same time, the stop loss for this is Rs.1330. The return of MCX shares in 2022 has been 1.95 per cent.
Hindalco Industries
Hindalco Industries has been given a buy range of Rs 455 to Rs 470.
The target price for this has been kept at Rs 590. That is, it has an upside potential of 28 per cent.
At the same time, the stop loss for this is Rs.380. Hindalco’s stock has given a return of -4.37% in 2022.
LTI Mindtree
A buy range has been given for LTI Mindtree in the field of Rs 4350 to Rs 4450.
The target price for this has been kept at Rs 5800. That is, it has an upside potential of 33 per cent.
At the same time, the stop loss for this is Rs.3620. The return of the company’s stock in 2022 has been -42.08 per cent.
Sun Pharma
The buying range for Sun Pharma has been given in the field of Rs 970 to Rs 1000.
The target price for this has been kept at Rs 1260. That is, it has an upside potential of 28 per cent.
At the same time, the stop loss for this is Rs.830. The return on the company’s stock in 2022 has been 16.71 per cent.
SBI
SBI has been given a buy range of Rs 610 to Rs 625. The target price for this has been kept at Rs 790.
That is, it has an upside potential of 31 per cent. At the same time, the stop loss for this is Rs 515.
The return on the company’s stock in 2022 has been 28.41 per cent.
Keep in mind that for long-term investment, one should invest only after completing research about any company.
This can earn decent returns in the long run. Secondly, you can handle the ups and downs of the market.
Staying with the company can provide a better return on investment. Investors should always focus their attention on the upcoming news about the company.
