Do you have any stock tips for 19 October, to buy or sell for short term? Is time to book profit and wait in the sidelines?
Answer
Answer
As traders and investors, there are always opportunities available in any market and that is what you must focus on. Here are some trading tips for the day.
· You can buy SAIL at Rs.34 for targets of Rs.42 in the short term. It is a good low priced proxy to ride the rally in steel driven by a spurt in domestic demand as well as global demand coming from countries like China and Vietnam.
· HDFC could be the dark horse among the banks and traders must look to accumulate the stock at Rs.1200 levels for upside targets of Rs.1280. Growth in profits has been great, the gross NPAs are under control and it looks like a smooth management transition.
· The government imposed restrictions on imports of ACs and refrigerants. While that could reduce the choice for Indian consumers, it is likely to benefit producers and outsources. Buy Havells at Rs.695 for targets of Rs.740 in a month.
You can look to the Nifty in the range o f11,600 to 12,000 during the week with limited movement on the back of stock specific movements only.