InvestorQ : Can I have some weekend trading tips for August 21? Can I buy into the correction?
Angel dcosta made post

Can I have some weekend trading tips for August 21? Can I buy into the correction?

Answer
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diksha shah answered.
2 months ago


Markets corrected on 20 August after banks and financials came under pressure. The US Fed minutes hinted at serious challenges to economic growth and that spooked markets. However, PSU stocks were robust on divestment hopes. Here is what you can do for Friday.

· Accumulate Coal India at Rs.137 for target of Rs.160 in one month time frame. Stock will benefit from positive divestment sentiments and attractive valuations.

· Another PSU, Power Finance Corporation, could be a beneficiary of easier lending norms for power. Buy at Rs.95-100 for upside targets of Rs.130 in one quarter.

· I repeat my call on Tata Chemicals at Rs.313 for targets of Rs.360. It quotes at P/E of 2X and the valued loss post hiving off salt has been more than warranted.

Global cues will help the Nifty open strong and that is also suggested by SGX Nifty. However, be cautious as the weekend may invite some degree of selling in the second half.