Market experts advise booking partial profits in Dixon Technology Ltd. and Indian Railway Finance Corp. while giving a 'hold' call on Suzlon Energy Ltd. and Olectra Greentech Ltd.
Sameer Dalal of Natverlal & Sons Stockbrokers and Vaishali Parekh, AVP- Technical Research & Analysis at Prabhudas Lilladher, give their views on these stocks.
Dixon Technology 👍
Vaishali Parekh: Book Partial Profits
Investors can book partial profits and the Rs 16,700 level acts as a very crucial support for the stock. If those levels are broken, that could trigger further selling. "Either book partial profit or wait for the stop loss to hit."
Olectra Greentech 👍
Vaishali Parekh: Hold
The long-term trend for the chart is quite intact. There has been a good corrective move coming in from the Rs 2,200 level and has reached a prominent support of Rs 1,400. "Continue holding with a stop loss of 1,400. If it moves below, it will trigger further weakness." But the stock is expected to bounce from the current levels.
Zomato 👎
Sameer Dalal: Hold Fresh Entry
Fundamentals and growth opportunities are strong, but the problem is the increasing competitive intensity. "That is the reason for the stock to take a beating. We are seeing the first round of correction." Earnings need to catch and Rs 200 level would be a fair price for a long-term perspective.
Suzlon Energy 👍
Vaishali Parekh: Hold
The long-term outlook is still intact and there is no damage to the trend. But keep a stop loss at Rs 53, as a weakness could intensify if that level is broken. Continue holding as even in a choppy market, the stock is holding strong.
Indian Railway Finance Corp 👎
Vaishali Parekh: Average Out
Investors should average out once the stock comes closer to the Rs 133 to Rs 135 level. "Once we see a reversal coming, the first target on the upside will be around Rs 155 and above that Rs 166 will be the next crucial hurdle."
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