InvestorQ : Please give me some good trading tips and ideas for 11 June 2020? Do you see the markets going up further?
Dilmini Mercia made post

Please give me some good trading tips and ideas for 11 June 2020? Do you see the markets going up further?

Answer
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diksha shah answered.
3 months ago


For the Nifty to go up further, it needs to breach 10,400 with volume support. That looks tough at thing point of time. The immediate worry on Thursday will be the weekly options expiry and the global impact of the US Fed projecting US growth at (-6.5%) for 2020.

· I suggest taking profits in my previous trading calls on L&T, JSPL, Vedanta and Berger Paints. Ideally, you should wait out this week till the impact of US GDP weakness is clear.

· Close out short positions in Axis Bank and the short position in Zee. You should ideally wait for this post Fed volatility to settle down.

· Buy Engineers India at Rs.73 for targets of Rs.100 and you can also buy BHEL at Rs.31 for upside targets of Rs.50. Both benefit from Atma Nirbhar Bharat campaign.

There are a lot of data points like inflation and IIP growth coming out this week and you should take a considered view only after that.