InvestorQ : Can you suggest me some good trading tips for the stock markets on 17 August?
swati Bakhda made post

Can you suggest me some good trading tips for the stock markets on 17 August?

Answer
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Sam Eswaran answered.
2 months ago


Nifty continues to face resistance at the 11,200 mark, which is not a very encouraging signal. The high inflation of 6.93% almost rules out any rate cuts in the October and even the December Policy, which is negative for banks. Here are some stock ideas.

· JSW Steel could be a good buy at Rs.265 for higher targets of Rs.310 in the next 2 months. With US stimulus and China revival, this could best steel sector play.

· I am reviving my buy call on Biocon at Rs.394 for targets of Rs.450. the hidden value of key businesses like Syngene and Biocon Biologicals are not fully reflected in price.

· Keep buying Adani Ports at Rs.345 for targets of Rs. 410 in one quarter. Mundra volumes are likely to drive the positive sentiments surrounding the stock.

FPI flows have been extremely positive in the month of August and sharper upsides will depend on how quickly growth revives in India.