How should I trade on 27 August and do you have any trading tips? I bought Tata Motors yesterday and it is up 6%, what to do?
Answer
Answer
Markets closed above the 11,500 mark on the Nifty and looks all set to go all the way to 11,800 as originally guided. FPIs have now infused nearly Rs.47,000 crore into Indian equities in August and that is a big positive. Here are some trading tips.
· Look to sell Bharti Airtel at Rs.515 for target of Rs.490 in a month. Negative growth in subscriber base in May is likely to continue due to migration pressures.
· Use the correction in Muthoot Finance to buy around Rs.1205 for targets of Rs.1300 in 1 month time frame. The LTV shift has not had any material impact on the stock.
· Regarding Tata Motors recommended yesterday it did achieve half of its target in one day itself. I am raising my target on Tata Motors to Rs.170, so hold and add on dips.
Rural driven sectors and debt reduction could be the big themes for the markets in the coming week.