InvestorQ : What are your major trading and investment ideas for the Monday 11 of May?
Priyanka N made post

What are your major trading and investment ideas for the Monday 11 of May?

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diksha shah answered.
10 months ago
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FIIs have been buyers in May but that is more due to the Hindustan Unilever block deal. Global cues are positive and this is a week when lot of numbers including inflation and industrial growth will be announced. Government borrowings have shot up sharply.

· Stay positive on pharma. With a spate of recent upgrades and a pharma sector turnaround, buy Sun Pharma around 470 for targets of Rs.510.

· ICICI Bank made some big provisions in its quarterly numbers. The bigger pressure could be on Axis Bank. Sell Axis Bank at Rs.385 for targets of Rs.340 on the downside.

Markets are likely to open strong on Monday due to positive global cues but the Rs.12 trillion borrowing overhang will pressure markets at higher levels.

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