What are your top trading tips and ideas for the 09 September trading in the market? Will the border situation impact markets?
Answer
Answer
The Nifty failed to break above the 11,400 mark on Tuesday. The border situation with China is tense and the LAC is becoming the new flashpoint for the markets. FII selling in the last few days is indicative that global investors want to stay light. Here are tips for the day.
· Buy Wipro at Rs.280 for short term targets of Rs.315 in one month. IT sector is likely to become a preferred play as geopolitical situation becomes tougher.
· Traders can look to buy BEML at Rs.640 for upside targets of Rs.700 in one month as defence orders to domestic players are likely to escalate in the immediate term.
· I reiterate my call to buy Tata Consumer at Rs.540 levels for targets of Rs.600 as it consolidates FMCG interests of the Tata group under one head for synergies.
Keep an eye on the geopolitical situation in India and the technology selling in the US as that is likely to be the overhang for the Indian market!