DO you have any stock specific tips on two stocks? What should I do with Wipro after the correction? Secondly, can I hold on to Vedanta after delisting fails?
Answer
Answer
Let me start with Wipro. The 6% correction on Wednesday looked more like speculative froth going out of the stock. In fact, my suggestion is that traders must use dips to buy Wipro around Rs.345. With buyback up to Rs.400, you can target Rs.375+ on the stock.
Vedanta has come as a poser to a lot of traders like you and you are likely caught on the wrong foot. Question is what to do with Vedanta at Rs.98 after withdrawal of delisting. Remember, Vedanta is still a cash cow and Rs.125 should be easily achievable.
On our old calls, I suggest aggressively to buy Godrej Agrovet at Rs.533 for short term targets of Rs.575. However, you can expect some volatility in the markets as the weekly options expiry will add to index pressures, although IT may continue drive index direction.