InvestorQ : What should be the strategy as markets have been weak for the last 3 days? Do you have any stock tips for what I can buy or what I can sell on 24 September?
Dia Deshpande made post

What should be the strategy as markets have been weak for the last 3 days? Do you have any stock tips for what I can buy or what I can sell on 24 September?

Answer
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diksha shah answered.
1 month ago


On Wednesday, the Nifty fell below 11,150 and corrected for third day in succession. Banks have been under pressure after the US treasury expose. FIIs have sold close to Rs.6000 crore of equities in 2 days. I don’t suggest fresh positions, but you can average old positions.

· If you missed Cipla on Wednesday or bought at Rs.775 buy more at Rs.765 for targets of Rs. 820. The rise in COVID will lead to a spurt in demand for Remdesivir.

· If you missed Vidhi Industries on Wednesday or bought at Rs.110 buy more at Rs.106 for targets of Rs.150. For a specialty foods stock it is still reasonably valued at below 12X.

· Biofil Chemicals & Pharma was on lower circuit on Wednesday but you can average at Rs.52 for targets of Rs.80. It could be another player to benefit from the API focus.

US markets have been extremely weak and SGX is close to 11,000 in early trades. Be cautious also considering that today is F&O expiry for the September series.