InvestorQ : I am short term trader and looking for trading tips for 09 June 2020? Do Nifty and Sensex again face resistance like Monday?
Katherine Gonsalves made post

I am short term trader and looking for trading tips for 09 June 2020? Do Nifty and Sensex again face resistance like Monday?

Answer
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diksha shah answered.
3 months ago


Sensex lost 550 points from the top on Monday as pressure built up after the sharp rally in last two weeks. The positive factor is that the NASDAQ has been making new highs and that should be positive for technology stocks.

· Buy Titan at Rs.1035 for targets of Rs.1120. Titan has actually managed to grow profits in the Mar-20 despite fall in sales and it will benefit from the opening up of businesses.

· Buy Wipro at Rs.225 for targets of Rs.260. The stock is likely to benefit from the recent deal with IBM as also the NASDAQ touching new highs.

· I had asked traders to buy Havells but stock was down 3%. It remains a conviction call and traders can buy the stock at Rs.545 levels for targets of Rs.600 and beyond.

The positive undertone for the market stems from the fact that FPIs have turned into net buyers consistently in the month of June.