What stocks to buy or sell on 24 June? Can you provide some good trading tips or even some medium term investment ideas?
Answer
Answer
The Nifty rallied for the fourth day as the visa suspension had little impact on Indian IT stocks. The NSE IT index rallied 1.5% on 23 June. The level of 10,500 on the Nifty could be critical to determine if further upsides will open up.
· Last week, I had suggested buying Sequent Scientific at Rs.87. If you have missed out on that trade you can still add at the current price of Rs.93. Upside targets on Sequent remain conservatively between Rs.130 and 140 in the next 2 months.
· Buy Cadila Healthcare at Rs.365 for targets of Rs.410 in one month time frame. It is a good proxy for the anti-COVID battle and also more reasonably priced.
· After my DLF call on 23 June at Rs.160, stock has moved up to Rs.169. You can use the range of Rs.160-170 to accumulate DLF for targets of Rs.220 in one quarter.
With global markets being positive, the only cue you need to look for is if the technical level of 10,500 gets breached by the Nifty with volumes. That will be positive.