The market falling today has almost eroded ~7.5 lakh crore of investor wealth today. The sharp fall comes after the bad weekend closing of the US markets and other important factors as well. Here are the top reasons why the market fell today:
- Bad US inflation data: Ever-increasing inflation has been a troublesome topic for a while now.
- Weak Global Cues: On Friday the US markets had tanked 2% + giving us a clear indicator of what we would expect today.
- FII selling is still ongoing: This is nothing new but FIIs have been selling for almost 3 months now.
- High Rupee outflow: With FII’s selling so much there is a significant outflow of the dollar which is also another reason.
- Rupee at new lows: Our currency has been dropping more and more and this is the biggest point to worry about. The rupee hit a new low of 78.28!
Getting back to 5 stocks that have entered oversold territory today. These stocks are good for longterm investment, start accumulating them now.
Here are 5 Bluechip stocks good for long-term investments in 2022
ICICI Bank
BAJAJ Finance
Asian Paints
WIPRO
Tech Mahindra
The markets might correct further and make new lows but for investors who missed this Bullrun this would be the ideal time to start investing and pick stocks that they want to be invested in for 5-10-15 years depending on their goals. Do keep an eye on these stocks if you are looking for some great growth-oriented stocks.
Where do you feel is the Indian Stock Market currently at? Do let us know in the comments below!
Disclaimer: The views and investment tips expressed by experts on Stockica.com are their own, and not that of the website or its management.
Stockica.com advises users to check with certified experts before taking any investment decisions.
[…] are 5 BLUECHIP STOCKS THAT ARE IN OVERSOLD TERRITORY that we covered in our previous blog, they are also great picks at the […]