Trading Ideas: Buy Infosys, Suzlon On Dips, Avoid Entry In Zomato, Yes Bank, Say Experts
Astha Jain, senior research analyst at Hem Securities and Swati Hotkar, AVP-equity technical research at Nirmal Bang give their views on these stocks.
Market experts are cautious about Zomato Ltd. and Yes Bank Ltd. while being bullish on Suzlon Energy Ltd. IT bellwether Infosys Ltd. will be a good buy during any correction, experts said.
Astha Jain, senior research analyst at Hem Securities and Swati Hotkar, AVP-equity technical research at Nirmal Bang give their views on these stocks.
Zomato 👎
Swati Hotkar: Hold off any fresh entry.
Zomato's stock has been trading cautions this month and has corrected 8% in the last six sessions. There is a cluster support level near Rs 230 levels and if it fails to respect that level, then more profit booking can be seen to take the stock to Rs 200 level. "At the current level, profit booking is likely to be extended. Wait and watch, and any correction can be utilised to take a long position."
Reliance Industrial Infrastructure 👎
Astha Jain: Wait and watch.
Fundamentals are not in a good share and has not announced any major capital expenditures. The company is still posting losses along with high valuations. "Better to wait and watch."
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Infosys 👍
Astha Jain: Buy any correction.
IT bellwether Infosys is well-placed and the current momentum suggests further upside. The segment will be performing very nicely and a better time will be to buy on any correction.
Suzlon Energy 👍
Astha Jain: Positive outlook.
Hold the stock with a price target of Rs 60 to 70 and can expect a strong CAGR growth in the top line in the third quarter. Valuations are on the higher side, however, the overall outlook is positive.
Yes Bank 👎
Swati Hotkar: Avoid buying at current price
The previous year was not a good one for the counter. The outlook is still cautions to bearish. The immediate support will be at the Rs 17-18 level and it does respect that level, the selloff can continue to Rs 15-14 levels. Avoid buying at the current market price. The upside can be seen only if the stock closes above the Rs 22 level.
Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.
