“One can be bullish on the largecaps at this minute and be bearish on smallcaps and midcap area since I believe market is likewise pricing in rate cuts, so that is likewise among the really favorable news which might produce a considerable short-term, medium-term top for the marketplace,” states Aditya AroraAdlytick.
What are your leading stocks to keep an eye out for in this market? Entering into elections or this month, one area of the marketplace thinks sell in May and disappear will take place, others are stating no, there might be a huge rally entering into elections.
As you appropriately summed it up, today largecaps are succeeding and midcaps and smallcaps are underperforming so that is the style for the day. And when it concerns indices, then I believe excellent ecstasy is developing in the market before the election due to the fact that market is marking down Modi success in this election so that is basically priced in and a great deal of ecstasy might develop around that occasion.
Post that, I do not believe market would have a lot of steam left to rally even more since this would be one of the biggest news for the market to shoot up considerably. I believe one can play tactically right now. One can be bullish on the marketplace. One can be bullish on the largecaps at this minute and be bearish on smallcaps and midcap area since I believe market is likewise pricing in rate cuts, so that is likewise among the extremely favorable news which might develop a considerable short-term, medium-term top for the marketplace.
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I believe around May it is going to be extremely essential time zone for the market, so I am playing tactically over here being bullish on the largecaps and being bearish on the smallcaps and midcaps.
And yes, you were discussing my choices, so my choice is Navin Fluorine. I believe chemical sector is beaten down to an excellent level and now chemical name have actually entered great appraisal zone. They are bargain today. Navin Fluorine is purchase Rs 3414, Rs 3270 is the stop loss and target is Rs 3550.
Other than that, let us simply talk about some of these specific stocks today likewise that we are seeing, a lot of volume in. We have IREDA. Undoubtedly, what is the view that you have on IREDA along with IDFC First Bankboth of them are seeing greater volumes in trade?
I believe IREDA is an excellent stock from medium term perspective. Stock has actually offered wonderful rally from IPO rate of Rs 50-55, the rally began with there.
I believe there is more steam left over here towards level of 200-220 in the medium term. In the short-term for today, I believe there is offering apparent from the top, so if one needs to take view for the intraday or brief time, then I believe wait on the dip.
If the view is for a little longer period, then I believe there is more steam left towards target as pointed out before 200 to 220. And 2nd one, IDFC. Today, banking area is succeeding. The largecaps are succeeding. If we look at the smallcaps, then they are underperforming the market. I believe this style might dominate for a long time however on dips some stocks look excellent and IDFC receives the exact same.
I would be a purchaser in IDFC at this point in time at Rs 121, my stop loss would be a little stop loss of Rs 119 and target would be Rs 123 to Rs 125, this would be a short-term choice as of now.