InvestorQ : What are some of your trading tips and investment ideas for 16 July 2020? Why did the market correct so sharply on Wednesday from higher levels?
vidhya Laxmi made post

What are some of your trading tips and investment ideas for 16 July 2020? Why did the market correct so sharply on Wednesday from higher levels?

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diksha shah answered.
3 months ago
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Sensex gave up 750 points from the peak closed flat led lower by Reliance, Bharti Airtel and major banks. Markets were disappointed due to limited progress on Saudi Aramco deal and no discussion about any bonus issue by Reliance. Here are some trading tips.

· Buy HCL Tech at Rs.590 for upside targets of Rs.630 in one month time frame. IT stocks are emerging as de-risked bets and HCL Tech also has margin of safety.

· Bharti Airtel could come under pressure due to Jio plan layout. Traders can sell Bharti Airtel at Rs.570 for lower targets of Rs.540 in 1 month time frame.

· I reiterate my call to buy Eveready at Rs.88 for targets of Rs.110. it could see a re-rating after the recent interest shown by the Burmans of Dabur.

There could be caution in stocks like RIL and Bharti as well as in front line banks. Traders must also prepare for the weekly expiry volatility.
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