InvestorQ : What are your top trading tips and suggestions for 31 August? Should I book profits due to weak US GDP growth?
Aashna Tripathi made post

What are your top trading tips and suggestions for 31 August? Should I book profits due to weak US GDP growth?

Answer
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diksha shah answered.
3 months ago


Nifty 11,200 again proved to be the hurdle once again. Indian markets could be impacted by the sharp 32.9% contraction in US GDP in the June quarter. That spooked the US markets and could rub off on Indian and Asian markets too. Here are some trade ideas.

· I had spoken about selling Piramal Enterprises at Rs.1500 and traders can now book profits at Rs.1340 levels. Traders can well HDFC at Rs.1810 levels for target of Rs.1700.

· Reiterate the buy call on Tata Chemicals at Rs.310 for target of Rs.350. A good play on agri space and extremely reasonable valuations.

· Use recent correction post IPO in Rossari Biotech to buy at around Rs.678 levels for upside targets of Rs.750 in 1 month time frame.

The US GDP de-growth at -32.9% will be a big overhang on markets. Expect some caution ahead of the weekend factor. It is best to stay light.