Upcoming monsoon critical for broad-based recovery in Indian equities. Which stocks to bet on?

Axis Securities predicts that macroeconomic scenarios will dictate the market in the upcoming months, with rural and domestic-focused themes expected to gain momentum. It has revised the December 2023 Nifty target upwards to 20,200, indicating an upside of 9-10% from the current level. Axis Securities recommended investors maintain liquidity, awaiting the market dips to build a position in quality companies with high earnings visibility. Midcaps are identified as growth sweet spots, while small caps are bottom-up plays. In the year-to-date, both foreign and domestic investors have been net buyers in the Indian equity market.