Do you have some interesting trading tips for trading on 22 June and whether I should be trading long or short in the market?
Answer
Answer
The market really last week was largely driven by Reliance and a handful of other stocks with RIL accounting for more than 60% of the rally. The SGX is hinting at the rally tapering on Monday and that could weigh on the markets on 22 June. Here are some tips.
· Buy Mahindra Logistics at Rs.280 for targets of Rs.350 in one quarter time frame. Logistics are likely to be the big beneficiary post the lockdown being lifted.
· Buy HCL Tech around Rs.570 for upside targets of Rs.620 at a play on tech space. Apart from being underpriced, HCL Tech also benefits from the appreciation of the dollar.
· I reiterate my last week’s buy call s on GAIL and OIL. Trade long on GAIL and OIL, with a 25% upside outlook in the next on quarter as AGR relief weighs in.
This is the F&O expiry week and hence the week will be driven by bouts of volatility ahead of Thursday F&O expiry. Trade cautiously and keep stop losses and trade.