InvestorQ : What are some good trading tips or if you have any investment tips for the stock market for 16 June 2020? I need for trade and for delivery?
Khushi Patel made post

What are some good trading tips or if you have any investment tips for the stock market for 16 June 2020? I need for trade and for delivery?

Answer
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diksha shah answered.
3 months ago


Markets on Monday corrected due to the rising number of Coronavirus cases in India and abroad. Tamil Nadu has extended lockdown in key districts and others may follow suit. Here are some trading tips for the 16 June.

· Sell Bajaj Finance around Rs.2370 for lower targets of Rs.2200 in the very short term as most financials are likely to give up value after recent gains. NPA pressure to build up.

· I have been suggesting selling Axis Bank since Rs.440 levels and traders who did not cover their shorts last week can cover Axis Bank shorts around Rs.380.

· You can continue to go long on our two previous delivery ideas. Buy Cyient at Rs.212 for target of Rs.255 and buy Sequent Scientific at Rs.85 for target of Rs.110 in one quarter.

Nifty is likely to open strong on the back of a 2% rally in the SGX Nifty in early trades. Markets will be positive as long as Asian markets hold in the positive.