What are some good stock trading tips for 19 May, Tuesday? Can I buy pharma after the correction?
Answer
Answer
The Nifty Monday correction was offset by the global rally. This could result in a gap-up opening on 19 May, Tuesday. Moderna of the US announced it is close to launching a COVID-19 vaccine and that will be a boost. Here are trading tips.
· With the latest Gilead license in India and the Moderna announcement, Jubilant Life Sciences is a good buy around Rs.450 for targets of Rs.520 in a month.
· HDFC Bank at Rs.838 is available at record low valuations of 18 times P/E. While IBC suspension is an issue, HDFC Bank gets support from stimulus and short covering.
Markets will open gap-up on Tuesday but the real question is if the rally can be sustained. Pharma could still be the pick of the markets so trade accordingly.