Market Mantra

Indian bourses are trading in the Green today, taking cues from the global markets. Also, on last Friday FIIs were net buyers of equities worth Rs.369.08 crores. This gave a great sentimental boost to the bulls. Photo: The Economic Times.

Meanwhile, in China protests are being held to lift lockdown. In India, the chances of fresh lockdown due to Covid-19, is almost nil. Hence, I'm expecting a broad based rally in the domestic stock markets.

Now, while the domestic indices are likely to consolidate at the current levels, the action will be seen in the broader market. In view of this, I have today recommended some momentum counters, as mentioned below:

💥Buy Websol Energy Systems Ltd (Rs.94.65) near the CMP for short term target of Rs.117.

Websol Energy System is a Kolkata-based manufacturer of solar cells and modules. Last year the company commissioned its dormant 250 MW module manufacturing line. The company is restructuring its existing 250 MW solar cell capacity towards higher cell sizes and looking to commission additional solar cell capacity.

💥Buy Visa Steel Ltd (Rs.16.20) for short term target of Rs.21.

💥AU Small Finance Ltd (Rs.642) has broken a major resistance on the upside. Next target: Rs.717.

💥Unless Coffee Day Enterprises Ltd (Rs.51.40) gives a closing above Rs.52, kindly don't take fresh position.

💥Those who are having cash in your account kindly try to average the shares of RTN Power Ltd (Rs.4.25) to bring down your acquisition Price.

💥Buy Vakranjee Ltd at Rs.30.55, T: Rs.37/39, SL:  Rs.27.

💥Buy Aban Offshore Ltd at Rs.49, T: Rs.72, SL: Rs.47. When the crude is trading near $100 per barrel, it is obvious that the stocks of oil exploration companies will do well in the present situation.

💥 Continue to accumulate the shares of late Rakesh Jhunjhunwala favourite, D B Realty Ltd (Rs.98.25), as it is likely to be taken over by a big business house, as per market speculation.

The company came out with excellent set of numbers for the September, 2022 quarter.

The net profit of D B Realty came at a whopping Rs.568.67 crore in the quarter ended September 2022 as against net loss of Rs.352.50 crore during the previous quarter ended September 2021. Sales rose 15.45% to Rs.10.16 crore in the quarter ended September 2022 as against Rs 8.80 crore during the previous quarter ended September 2021.

💥Those who are holding the shares of Dilip Buildcon Ltd (Rs.233.85) can continue to do the same, adding on market declines.

💥The stock of Nahar Spinning Mills Ltd (Rs.284.50) is doing well today. With the cotton prices falling across-the-board, and the government of India coming up with 2nd PLI scheme, the textile stocks should be doing well in future