InvestorQ : What are your top picks for trading ideas on 05 August? I am asking because Sensex is falling one day and bouncing next day?
Arusha Ray made post

What are your top picks for trading ideas on 05 August? I am asking because Sensex is falling one day and bouncing next day?

Answer
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diksha shah answered.
1 month ago


On 04 August, the Sensex gained 748 points largely helped by Reliance and HDFC Bank. However, the level of 11,200 on the Nifty continues to remain a resistance for the time being. Here are some trading ideas for the 05 August 2020.

· It is time to book 12% profits in Cadilla and shift to Biocon at Rs.413 for targets of Rs.470 as the full value of Biocon Biologicals and Syngene is not yet reflected in price.

· I suggest aggressively buying into HDFC Bank under Rs.1050 for targets of Rs.1159 as the valuation of 19X is extremely compelling considering its growth and asset quality.

· Buy defence stocks as India readies to spend Rs.125,000 crore on in-sourcing defence manufacturing. Buy Bharat Dynamics at Rs.420 and HAL at Rs.948 for 20% upside.

Overall Nifty may still face resistance at 11,200 but specific themes like rural theme and defence theme will be the themes to play for.