InvestorQ : What can be some good short term trading ideas for 26 May 2020? I only want stock tips for less than a month?
Debbie Mascarenhas made post

What can be some good short term trading ideas for 26 May 2020? I only want stock tips for less than a month?

Answer
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Crowny Pinto answered.
5 months ago


Indian markets could see a positive opening on 26 May after a long 3-day weekend on the back of opening up euphoria. However, the rising numbers of Coronavirus cases in India would mean that any market spurt will meet resistance at higher levels.

· Expect problems for Zee TV after Essel Infra defaulted on NCDs issued to Templeton. Zee shares are pledged against Essel Infra debt. You can trade for 15-20% downsides.

· Cipla could be a big beneficiary of the latest Remdesivir approval. Traders can buy Cipla at around Rs.637 for upside targets of Rs.680 in one month time frame.

You can expect a strong opening on Monday. However, COVID-19 uncertainty and GDP data concerns could result in selling at higher levels. Trade cautiously if markets open with a gap.