InvestorQ : Can you give me some solid trading tips for the stock markets on Monday 14 September? Will Reliance go up further?
ishika Banerjee made post

Can you give me some solid trading tips for the stock markets on Monday 14 September? Will Reliance go up further?

Answer
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diksha shah answered.
2 weeks ago


Nifty is broadly expected to be range-bound during the week between 11,300 and 11,500 in a best case scenario. While Reliance accounted for most of the rally last week, you may have to be prepared for some pause for breath by the stock this week as it already $200 billion. However, here are some trading tips for the day.

· Tech Mahindra could benefit from a catch up rally and reasonable valuations. At 13X forward PE, traders can buy Tech Mahindra at Rs.760 for targets of Rs.830 in 1 month.

· Buy Glenmark at Rs.480 levels for targets of Rs.550 in 2 months time frame. Stock is quoting at under 7X forward earnings and is a major source of Favipiravir.

· Accumulate L&T at Rs.916 for targets of Rs.1050 in 2 months as the defence story and a pick-up in the capital cycle as evident from IIP numbers, could immensely benefit L&T.

Don’t jump into trade this week and wait for key data points like CPI inflation, trade data and FOMC announcement this week.