After taking out profits on 6 stocks on 04 May, do you have any further profit booking suggestions for 05 May. Any fresh stocks you suggest to buy?
Answer
Answer
You are right, I had suggested to take profits on 6 of our stocks on Tuesday. However, the positions are now substantially lighter, so I am not suggesting any more selling ideas for the 05 May. You can hold on to the existing positions for the time being.
Regarding fresh buying, I suggest buying Sun TV at a price of Rs.490 for upside targets of Rs.550 in a with a time frame of 1-2 months-time. Of course, post the DMK win in Tamil Nadu elections, the favourable political environment is a big factor. Additionally, Sun TV is still available at a reasonable valuation of less than 14 times forward earnings, extremely low for a quality media stock.