After two days of crazy correction in the markets, what do you suggest doing in Wednesday trades? Please give me some stock tips for 23 September?
Answer
Answer
On Monday and Tuesday, the Sensex lost 1,120 points as banks and other speculative stocks remained under pressure. Apart from the slush money trail of banks, the other worry on Tuesday was that FPIs sold Rs.2073 crore of equity. Here are some stocks to buy.
· Use the correction to buy Cipla at Rs.775 for targets of Rs.820. With COVID cases rising, we could see a spurt in demand for Remdesivir medicines in the short term.
· Vidhi Industries at Rs.110 is a good buy with targets of Rs.150 in 2-3 months. For a specialty foods business it is reasonably valued at below 12-times P/E.
· Biofil Chemicals and Pharma is a low priced stock to buy at Rs.54 for targets of Rs.80 in 2 month. Despite its focus on APIs, it is slightly high risk so use SL below Rs.45.
Even as global markets saw some restored, the FPI selling on Tuesday is a worry. Traders will have to be extremely stock specific.