Tit - bits

Yesterday Nifty 50 closed below the 200-day

exponential moving average (which was placed at 11,826) declining 119.40 points or 1.01% to 11,678.50, forming yet another bearish candle on daily charts.

However, today Nifty is likely to give a bounce, from 11600 levels, which can be used to build long positions for targets of 11900/12000. I feel the new F&O trading should start with a positive note. Therefore, buy good mid and small cap counters for 3/4 months perspective. 

#You can buy the shares of Ashoka Buildcon Ltd (Rs.92.90) near that Rs.89/90 during intraday dips for short term targets of Rs.102/105. Prabhudas Lilladher is bullish on Ashoka Buildcon has recommended buy rating on the stock with a target price of Rs 167 in its research report dated February 11, 2020.

#Buy the shares of JHS Svendgaard Ltd (Rs.12.75) during intraday dips near Rs. 12/13, for short term targets of Rs.16/17. JHS, which has a manufacturing facility at tax-free zone in Himachal Pradesh, makes toothpaste, toothbrush, and mouthwash for almost all leading brands including Colgate, Dabur, Patanjali, Emami and Apollo. This is a play in the Indian consumption story.

#Buy the shares of Jindal Steel and Power Ltd (Rs.170.15) at around Rs.168/169, for short term targets of Rs.182/191. SL: Rs.165.
The fall in the metal stocks during the last few days was in line with the broad-based bearish trend in the market following reports of hundreds of new cases of Covid-19 infections that were reported over the weekend. China continues to fight the coronavirus outbreak that has killed more than 2000 people and disrupted factories and businesses in the world's second-largest economy. However,  I feel the correction has been done away with and it is time to accumulate the scrip near the support levels.