InvestorQ : I need some trading tips for 22 September in the stock markets? Do you suggest buying into stocks after the correction on Monday?
Juvina Maggie made post

I need some trading tips for 22 September in the stock markets? Do you suggest buying into stocks after the correction on Monday?

Answer
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diksha shah answered.
1 month ago


On Monday, the Sensex cracked by 812 points with banks and the metals worst hit in the correction. The recent expose of money laundering by Indian banks to the tune of $1 billion could be a dampener for Indian banks in the short term.

· I had given 3 recommendations on Monday but the gap down may not have allowed initiation or it may have been stopped out. In case you have bought and are holding, you can also average more on these counters as under.

· If you bought Cadila at Rs.409 you can average at Rs.395 for targets of Rs.450 in one month. Its license to manufacture Remdesivir is likely to be a boost for the stock.

· Trades who bought Glenmark at Rs.505 can average at Rs.476 for targets of Rs.550. Favipiravir tablets will see greater demand as more asymptomatic cases are detected.

· Also, if you missed out buying Amara Raja Batteries at Rs.755, look to average at Rs.720 for targets of Rs.810. Stock is poised to benefit from demand for batteries of green cars.

Despite deep cuts in Dow and European markets, the NASDAQ recovered sharply to close flat. SGX Nifty is in positive territory and that should assist a positive opening.