Indian markets have fallen over the past 2 days, having seen a winning streak in the past week. According to Mr. Siddhartha Khemka, Head of Retail Research, Motilal Oswal Financial Services Ltd, markets should continue to consolidate given the weakness in global indices, the ongoing earnings season and high valuations.
“Profits reported so far have been mixed, with cost inflationary pressure clearly visible on margins. Since valuations are now at absurdly higher levels, there are many stocks that are priced perfectly, leaving very little room for a deception king. So even a slight deviation from outcome expectations leads to abrupt reactions. We suggest traders to be cautious given the type of volatility seen in the market. Investors, on the other hand, should accumulate quality names with every decline as the pressure on margins is a short-term phenomenon while the long-term outlook remains good for the stock markets, ”he said.
Here are some ideas for buying and selling stocks for short-term traders, suggested by technical experts.
Dr Ravi Singh, Director of Research and Vice President, ShareIndia
Gabriel India: Buy the stock at Rs 152, sell the stock at Rs 165, Stop Loss at Rs 145
Bank of India: Buy Stock at Rs 61, Sell Stock at Rs 75, Stop Loss Rs 55
Manoj Dalmia, Founder and Director, Proficient equities Private Limited
Tanla Solution: Buy it at Rs 1016, target Rs 1068, Stop Loss Rs 994.
Ravi Singhal, Vice President, GCL Securities Limited
Federal Bank, buy at Rs 97, Stop Loss Rs 92, target Rs 111.
The above stocks are chosen by investment experts. Investing in stocks presents a risk of financial loss. Investors should therefore exercise caution. Greynium Information Technologies, the author and the brokerage are not responsible for any losses caused as a result of decisions based on the article.
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Article first published: Friday, October 22, 2021, 8:41 a.m. [IST]