Stock Recommendations Today: Market Experts Positive On Protean eGov, SAIL, Cautious On ONGC

Till when should you remain invested in Protean eGov Technologies, Steel Authority of India Ltd., and Vedanta? How should you trade shares of Zomato? Should you buy ONGC after recent correction?

Astha Jain, senior research analyst at HEM Securities and Swati Hotkar, assistant vice president of technical research at Nirmal bang, answer these queries.

Jain: Remain invested.

Jain is positive on the stock as it is a leading technology solutions provider. She also likes that its offer-for-sale had a very strong response. She recommends investors to stay invested for a long-term horizon and there's no need to worry as she sees sales growth and bottom line growth of more than 10%. She said momentum is likely to continue and remain invested for a target of Rs 2,000.

Hotkar: Positive.

Hotkar is positive at current market price and she recommends staying invested, as long as stock holds support of Rs 115. "Already we have seen a sharp correction from Rs 170-110, from theron RSI is showing positive reversal," she said, adding that the stock is likely to witness more bounce back rally from current market levels to Rs 145-150 levels.

Hotkar: Cautious.

According to Hotkar, as of now the view is cautious as stock has shown a sharp correction from Rs 345 to Rs 250 level. She expects more correction to be witnessed in overcoming sessions and she doesn't see any signs of reversal. "If it breaks Rs 250 level, selling pressure will be intensified, she said recommending to take long positions at every dip towards Rs 240.

Hotkar: Positive.

Hotkar said she is positive on technical front. If the stock manages to give breakout of Rs 510, a new trend will get started which will take it to Rs 570 level. Hotkar recommends sticking on long position with stop loss of Rs 470, a crucial support for target of Rs 570.

Jain: Accumulate at lower levels.

Jain likes the company's fundamentals as she noted that management efforts will take gross order value to around Rs 1,000 crore mark in coming few years and a strong growth in financials will be EPS accretive. "On the basis of that, we think stock price momentum will continue to rise, she said, recommending to stay invested till Rs 320-330 levels, but for accumulation its better to wait for it to reach around Rs 280-290.

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.