7 Stocks To Buy Today For Long-term Investors

It's a time where stock-pickers have to look at selective stock picks as the markets have risen. The Sensex is now quickly moving to the 60,000 points mark all over again. It is time to buy selectively and we are highlighting 7 stocks, where brokerage firm Sharekhan has recently given a buy call on these stocks. These are from its latest reports.

7 stocks that can give good returns to long-term investors

	Current market price	Target price
Axis Bank	875	1040
Colgate Palmolive	1625	1690
Shoppers Stop	802	8% higher
Asian Paints	3150	3689
ITC	350	402
Persistent	3683	4300
Coforge	3898	4680

Market strength to continue in the near term

According to Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd Bulls continued to dominate the Dalal Street ahead of festive season. "Nifty opened negative but value buying at lower levels helped index to recover and close with gains of 52 points at 17564. Sector-wise, PSU Banks were in flavor on back of good set of numbers followed by IT, Oil & Gas and Metals. Despite global headwinds, sentiments were positive ahead of Diwali festival and healthy earnings so far. Nifty has found support above 17400 zones for the 3rd consecutive day indicating strong base formation. We expect the strength in the market to continue in the near term. Stock specific action is would continue as companies keep announcing results," he stated.

 

Buy on declines

Most analysts are recommending to buy stocks on declines, as the markets have already rallied a fair bit, in the last few weeks. Apart from this, interest rates are also headed higher, which is now good news for the stock markets. Overall, we believe that it maybe time to buy on declines and in a staggered manner only. Investors should also look at more long-term investment, rather than short to medium term. There is a possibility of outperformance in the long term for the stock markets.