Are there any specific stock trading tips you have for 12 November? Should I try to short in this market?
Answer
Answer
Should you really be buying stocks in this high level market? I think you should be stock specific and just look for opportunities. There are two stocks that you can add at this point of time to your portfolio; but be prepared for short term volatility.
· My first call for the day is Steel Authority of India or SAIL. Buy SAIL at Rs.39 for targets of Rs.55 in 2 months time frame. Metals have impressed markets in terms of domestic demand as well as robust export demand for steel, and that is set to continue.
· If you are slightly high risk player, you can pick IDFC First Bank at Rs.33 for targets of Rs.50 on the stock in next 2 months. It is finally getting its bad asset problems under control and now asset growth should be smoother.