InvestorQ : As we get into a week end do you have any tips for trading stocks on 14 August? I am also willing to wait for longer?
Arusha Ray made post

As we get into a week end do you have any tips for trading stocks on 14 August? I am also willing to wait for longer?

Answer
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diksha shah answered.
2 months ago


The metal stocks were in the limelight on Thursday but the big story would be the reaction to the sharply higher CPI inflation figure at 6.93%. That is likely to force RBI to put off its rate cut decision at least till December, which is negative for financials. Here are the tips.

· The call on HAL, after the defence story, is up 35% in less than a week so take profits on the stock. Buy Chola Finance at Rs.225 for targets of Rs.270 on a stellar Jun-20 quarter.

· It is time to buy into Adani Ports after the strong port business numbers in the June quarter. Traders can buy at Rs.345 for targets of Rs. 410 in one quarter.

· I reiterate my call to buy Cipla at Rs.760 for short term targets of Rs.820 as it looks the best poised with strong India franchise and its good quarterly results for Jun-20.

Traders got to be careful about going long on financials as the sharply higher inflation rate at 6.93% could be a dampener for banking stocks!