InvestorQ : Hi Diksha, can you share your trading view for 13 August for the stock markets overall. Do suggest any stocks to buy?
Debbie Mascarenhas made post

Hi Diksha, can you share your trading view for 13 August for the stock markets overall. Do suggest any stocks to buy?

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diksha shah answered.
4 months ago
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On Wednesday, when the Nifty took support in the midst of volatility at 16,200, I had told you that the Nifty would rally from here. That was evident on Thursday as the markets rallied sharply by about 82 points. On Thursday, we had positive tidings coming from the quarterly results flattering the street as both big names like Tata Steel and Hero Moto giving flattering numbers on yoy basis.

The recent IPOs were a mixed bag and had the issuers waited for a week for the liquidity to circulate back from the first round of listings, the response to the second round would have been much better. However, all the 8 IPOs in last 2 weeks were fully subscribed though Nuvoco and Chemplast were not too exciting. The focus on the IPO sentiment barometer will now shift to the next round of IPOs in the market and the listings of these 8 IPOs.

Foreign investors were net sellers worth Rs.212 crore on 12 Aug, while domestics bought Rs.308 crore of equities. In terms of global market cues, Dow and NASDAQ were marginally higher but Europe was mixed. In early trades on Friday, SGX Nifty is trading lower on concerns over weekend selling.

I do not suggest any buying for Friday, being the last trading day of the week. However, over the last few days, I have been suggesting Zomato around the Rs.125 levels for upper targets of Rs.175-180 in the next 3-4 months.

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