Hi Diksha, what to do with my open positions in UPL, Shilpa Medicare, M&M, HPCL and SBI Cards? All these corrected sharply on 21 Dec?

Monday was a difficult day for traders with the sharp spike in VIX and the crack in the markets. However, where the structure of the stock is not impacted, we can look to average in quality names at the current price levels. Her is a quick summary of what to average.

UPL given at 460 (CMP-435) – Hold at Average Price

Shilpa Medicare given at 501 (CMP-419) – Average at lower Price

Manappuram Finance at Rs.173 (CMP-162) – Suggest to hold

SBI Cards at Rs.840 (CMP-809) – Average at lower prices

Reliance Industries at Rs.1,990 (CMP-1,935) – Suggest to hold

Ambuja Cements at Rs.256 (CMP-234) – Average at lower prices

IRCTC at Rs.1,421 (CMP-1368) – Suggest to hold

Bharat Electronics at Rs.116 (CMP-112) – Suggest to hold

BHEL at Rs.36 (CMP-33) – Suggest to hold

HPCL at Rs.230 (CMP-208) – Average at lower prices

M&M at Rs.730 (CMP-681) – Average at lower prices

Hindustan Copper at Rs.63 (CMP-58) – Suggest to hold

Navkar Corp at Rs.40 (CMP-38) – Suggest to hold

we are only adding stocks that we see value in the next bounce. SBI Cards, HPCL and M&M should be your first priority to average at lower levels. Then you can look to average Ambuja Cements and Shilpa Medicare based on risk appetite. Leave other positions for now.