InvestorQ : Do you have any stocks to buy at these levels on 02 December 2020? Should I sit out for now?
Dawn Cherian made post

Do you have any stocks to buy at these levels on 02 December 2020? Should I sit out for now?

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diksha shah answered.
5 months ago
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Firstly, there is no point in sitting out in a market that is recovering from the lows on the strength of low VIX. Also, the stock specific opportunities are a lot more valuable than the overall market trend. Here are two stocks you can by for 02 December.

· Buy Manappuram Finance at Rs.173 and target price of Rs.200 in 1-2 months time frame. Gold loans will benefit from greater move towards the organized sector and gold loan companies have reported a sharp spike in gold loan off-take.

· Buy Canara Bank at Rs.109 for upside targets of Rs.125 in the stock over next 1-2 months. Downside risks could be fairly limited with the PSU provisioning cycle turning around. Despite merger pressures, this should attract buying interest.

Let me reiterate that the worries over the peak margin system may be over rated. Frankly, it is unlikely to have any significant impact on the cash market although some futures speculative may come down. From a cash market perspective, you should see that as a positive.

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