Trading Ideas: Hold Ashok Leyland, Wipro But Avoid Sagility India, Say Stock Market Experts
Vinay Rajani, senior technical and derivatives analyst at HDFC Securities and Rajesh Agarwal (Jindal), head of research at Aum Capital Markets, answer market queries.
How should you trade shares of recently listed Sagility India? For how long do market experts advise to hold Ashok Leyland and Wipro? At what levels should you acquire Kaynes Technologies and KRN Heat Exchangers?
Vinay Rajani, senior technical and derivatives analyst at HDFC Securities and Rajesh Agarwal (Jindal), head of research at Aum Capital Markets, answer these queries and more.
Ashok Leyland
Agarwal: Continue to hold
Agarwal said, "If you are not in a hurry to sell, there is no reason to get out of the stock." While he expects short term blips because of valuation concerns, he expects the stock to give average annual return of 10-15% in the next five years.
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Kaynes Technology
Agarwal: Wait and watch
According to Agarwal, even though, the company is good and the sector is doing very well, on the valuation side, all counters in the sector are trading at three-digit PE which is very high. He advises to let it correct to Rs 6,500 and then acquire.
KRN Heat Exchangers
Rajani: Buy on dips
According to Rajani, the stock is currently into a correction phase after its recent high of Rs 880 on December 6 and from that level it has started correcting. He said primary trend has been positive and correction could extend. His immediate support is pegged at Rs 700 level and recommends entering at those levels.
Sagility India
Agarwal: Avoid
Agarwal recommends avoiding the stock as it has been in news after getting listed and is hitting circuit to circuit in last few days and there's no data to talk about.
Wipro
Rajani: Hold for long term
According to Rajani, the stock looks attractive and an important thing is that its RSI, which was underperforming previously, has outperformed in the past one year. It has formed a rounding bottom formation on monthly chart which shows a strong pattern for long-term reversal. "Setup is quite strong, hold for long term, don't worry about short term correction," he said keeping his target for Rs 365.
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.
