Diksha, can you give me some trading ideas for 16 August? Also, can I book profits in Zomato, which I bought at Rs.126?
Answer
Answer
Let me talk about Zomato first. Yes, you can sell Zomato now that you have made 10% in about a week time. Let me reiterate that Zomato still looks good but you need to be cautious about bouts of selling at higher levels. It is best to take off some profits for the time being. Here is a gist of what I suggest.
· Zomato Ltd Rs.125 (CMP – 138.25) – Book Profits
Regarding stocks to buy, I have two recommendations for the day. Firstly, I suggest to buy Hindalco at Rs.440, for targets of Rs.475 in 1-2 months. You can also look to selectively buy HDFC Bank at Rs.1,500 for targets of Rs.1,580 in 1-2 month time frame.