Should you buy shares of Life Insurance Corp. at the current market price? Have you lost the opportunity to buy stocks of Indian Renewable Energy Development Agency Ltd.? Is Wipro a good choice from a long-term perspective? Should you sell shares of Reliance Industries Ltd. at the current market price?
Dinesh Saney, senior equity research analyst at Invest4edu, and Rajesh Bhosale, equity technIcal analyst at Angel One provided insights on NDTV Profit's Ask Profit show.
Cochin Shipyard (CMP: Rs 1,379.05)
Bhosale: Hold And Sell
Expecting a bounceback towards the levels of Rs 1,700.
Its 200 displaced moving average acting as resistance in the recent bounceback.
It is the level where partial profit booking is suggested.
Trail stop loss to the remaining positions.
RIL (CMP: Rs 1,182.20)
Saney: Buy
It is at a 52-week low as of now.
One can accumulate at these levels.
There may be expectations of a demerger for companies in the consumption segment.
Will be great news for the company and stockholders.
They can buy or hold.
Bhosale: Hold
In the near term, expect the stock to bounce back at the levels of Rs 1,050 to Rs 1,100.
Can be bought in a staggered manner.
Stock already corrected from levels of Rs 1,500.
Expect levels of Rs 1,450 and then Rs 1,530 levels.
Can be bought from a long-term perspective.
LIC (CMP: Rs 784.80)
Saney: Sell
Overall penetration in India for life insurance is very low as of now.
If one wants to hold for five to 10 years, they should do so.
Or exit at minor losses.
Bhosale: Sell
Same view that stock may consolidate in a range.
May not give a strong performance.
Can switch to other counters like Bajaj Finance Ltd. and Bajaj Finserv Ltd. These stocks have given a long-term breakout, poised to give strong performance.
UltraTech Cement (CMP: Rs 395.85)
Saney: Hold
Is a good option for holding.
Cement industry can do good over the next three to four quarters.
Power Grid (CMP: Rs 288.95)
Bhosale: Hold
In the short term, it is looking positive.
March lows were around Rs 250, currently placed near Rs 288–289 levels.
Very strongly placed, expect Rs 275 to act as strong support.
Hold with immediate target of Rs 315–313.
Wipro (CMP: 247.25)
Bhosale: Buy
Seeing strong support in the range of Rs 230–220 levels.
Expect that any dip retesting the level can be used to enter/accumulate the stock in a staggered level.
Saney: Hold
Mixed view overall in the IT sector.
Tariffs may make companies spend less on IT than they did last year.
There can be challenges to the sector for three to four quarters.
Keep holding.
Wait for a fourth-quarter management review when buying stock in IT companies.
Ireda (CMP: Rs 153.85)
Saney: Hold
Hold on to the stock
Will take way too much time for wealth creation.
But doing very well from March 2022 onwards.
Hold for now.
Switch to different companies if you don't have patience.
Ola Electric Mobility (CMP: Rs 50.88)
Saney: Sell
Book losses and try somewhere else to create wealth.
Didn't post good numbers and posted losses.
Will have to contend with competition from hybrid vehicles.
Bhosale: Sell
A stop loss can be kept at Rs 45.
On the higher side, Rs 58 is a stiff resistance.
Once Rs 58 is crossed, Rs 65–67 is likely to be expected, which would be the ideal level to exit long positions.
Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are of 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.
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