Trading Ideas: Partially Exit Jai Corp, Remain Invested In Eicher For More Upside, Say Stock Market Experts
Astha Jain, research analyst at Hem Securities and Kushal Gandhi, technical analyst at StoxBox answer queries about Avenue Supermarts, Jai Corp, RIL, and more.
Should you buy Avenue Supermarts after Friday's rally? How to trade shares of Jai Corp after the sharp decline it saw for a second consecutive session? How is Reliance Industries likely to trade in the near-term?
Astha Jain, research analyst at Hem Securities and Kushal Gandhi, technical analyst at StoxBox answer these queries and more.
Avenue Supermarts 👍
Jain: Fresh entry after Q3 result
Jain said she doesn't have a buy rating as of now and recommends waiting for results and then make entry. "We should not forget that stiff competition from ecommerce companies will always be a concern for growth," she said but also noted that private label items gives an edge to DMart.
Jai Corp 👎
Jain: Partially exit
According to Jain, the recent news was negative and financial performance in the coming quarter will be impacted because of that. Price to earnings is also at a very high level, she said advising to partially exit.
Reliance Industries👍
Gandhi: Hold
Gandhi has a neutral view on the stock at it remains sideways right now. He is not expecting quick recovery and said that it will consolidate between current level and Rs 1,326. "The stock will remain rangebound for a few weeks to months but hold," he said.
Eicher Motors 👍
Jain: Remain invested for further upside.
Jain recommends remaining invested in the stock given its lead in 250 cc motorcycle segment. With new product launches and the kind of marketing activities company is hosting, she sees an upside to a target of Rs 5,700.
Redington 👍
Gandhi: Positive in short term
The stock is volatile on charts and is trading with lower high structure but is positive from a shorter term because its getting a very nice support at 50 day moving average. Gandhi is positive on the stock and has a stop-loss of Rs 192.
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