Please give me some trading tips for 04 June? Are there are some short term trading ideas or investment tips that you can give me?
Answer
Answer
The good news for traders is that the Cyclone Nisarga did not do much damage to the financial capital. Nifty is likely to hold the 10,000 mark as global markets have been extremely strong overnight. FII buying was strong despite Moody’s downgrade.
· The recommendation on SBI Cards on Wednesday was up 6% and you can look to raise the original target of Rs.650 on SBI Cards up to Rs.710.
· Accumulate Shriram Transport Finance at Rs.615 levels for upside targets of Rs.680. It could be a big beneficiary of pick up in CV sales and now it is well capitalized.
· BEL could be a surprise pack at Rs.73 with upside targets of Rs.100. It could be a key beneficiary of the government thrust on indigenization of defence procurement.
The bullish undertone is likely to continue and mid caps may also outperform the market.