InvestorQ : Do you have any fresh ideas for buying stocks in the market on 12 January? Also, you recommend exiting any positions in the market?
swati Bakhda made post

Do you have any fresh ideas for buying stocks in the market on 12 January? Also, you recommend exiting any positions in the market?

Answer
image
diksha shah answered.
1 month ago
Follow

I had not given any sell calls for Monday. However, on Tuesday, I do suggest to exit your positions in Bajaj Auto. The calls on Infosys and FACT must have given you higher entry points but both are solid medium term ideas. Use every dip to keep accumulating these stocks. For now you can hold on to other positions and I will let you know when to exit.

The big story in the market now is the results season. The week will see some important results like Tata Elxsi, HCL Tech, Wipro and Infosys, apart from HDFC Bank and Karnataka Bank in the banking sector. That will give you a clearer trend picture on these stocks before taking a final view. IT could be the big story for the current quarter.

As you await the broad trends from the larger cap names, I suggest you to pick up two smaller names in the space. This is what I suggest to do.

· You can look to buy Rail Vikas Nigam or RVNL at around Rs.34 levels for targets of Rs.45 on the upside in 1 month time frame. The stock has finally got the momentum in its favour and the order book has been quite robust.

· The second stock is home textiles player, Trident Ltd. It is a relatively riskier bet at Rs.14.50 for upside targets of Rs.21. You can anticipate this target to be achieved in a month or so. The company is staging a turnaround.

3 Views