Trading Ideas: Accumulate Hindalco Industries, Hold Cartrade Tech & Pondy Oxides
Markets experts suggest accumulating Hindalco Industries Ltd. and holding on to Pondy Oxides & Chemicals Ltd. and Cartrade Tech Ltd.
Find out what Vaishali Parekh, vice president, technical research, Prabhudas Lilladher Pvt. Ltd. and Nirav Asher, head equity research analyst, Latin Manharlal Sec Pvt Ltd., are saying about these stocks as well as Ola Electric Mobility Ltd. and Zee Entertainment Enterprises Ltd.
Cartrade TechÂ
Nirav Asher: Asher's personal choice is to stay invested. The prospects appear to be quite good. If there's no urgent need to liquidate the stock, it is advised to stay invested.
Hindalco IndustriesÂ
Vaishali Parekh: In terms of charts, the stock has shown weakness. Hindalco Industries is moving towards oversold zone. The stock has corrected from Rs 700–Rs 770 apiece to Rs 590 apiece. Overall, the metal stock is showing weakness. Parekh suggests accumulating the stock because Rs 550 seems to be the next support. Rather than having a small time horizon, it is suggested to accumulate as these levels can be good to buy.
Ola Electric MobilityÂ
Nirav Asher: The stock has been under some pressure. It is better to switch to an alternative. "I think it's better to shift to something like Hero MotoCorp or TVS Motors."
Pondy Oxides & Chemicals
Nirav Asher: It is suggested that one waits till the next quarterly results. What kind of results are coming out, and what the management is saying will be crucial before deciding the next course of action.
Zee Entertainment Enterprises
Vaishali Parekh: In technical terms, the stock is showing signs of revival. Traders are advised to maintain a strict stop loss at Rs 118 and wait for this stock to move past Rs 140 apiece. If it sustains above Rs 140, the stock will come close to the target of Rs 150– Rs 160.
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.
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