Market Mantra

The benchmark Nifty is down 60.20 points to 17,828.45 after the FPIs went for heavy selling yesterday. However, the Nifty should hold 17,200 on the downside as there are no major negative news on the inflation front. The action should now depend on stock selection, as the days of low hanging fruits 🍓🍓🍑🍑 are probably over. Those who have experience in the market will survive, the rest are likely to burn their fingers. 

Those who have a portfolio size of around Rs.2 lakhs can join my profit sharing scheme of 60:40, between you and my consultancy. The stocks will be chosen basically on fundamental basis, though technical angle can't also be overlooked. 

#Accumulate the shares of Nahar Spinning Mills Ltd near Rs.281, for targets of Rs.320/350. SL: Rs.257. Drastic fall in the price of cotton is positive for the textile companies.

#The stock of Indowind Energy Ltd (Rs.15.70) hit another lower circuit today probably on the fear that the company would become insolvent.

But at present, there are no such issues, and it was just a normal hearing and settlement at a NCLAT court. The prudent investors looking to subscribe to the rights issue at Rs.12,s slowly accumulate the scrip, till the record date.

#Buy Zomato Ltd near Rs.54.20, T: Rs.61/62/67/71. SL: Rs.51.60. 

It tanked heavily on Sentimental issues after one of its Co-founder & Chief Technology Officer, Gunjan Patidar recently resigned. But now the sentiment is improving & it has found a support around Rs.53.80 -- Rs.54.

#Accumulate the shares of A2Z Infra Engineering Ltd (Rs.9.70) in market declines. The company's telecom tower business is expected to pick up steam in the near future. The stock should double from the CMP.

#Accumulate the shares of Piramal Pharma Ltd (Rs.115.90) for targets above Rs.200. A number of brokerage house have given a buy on the stock.

#The scrip of D B Realty Ltd (Rs.89.20) hit the Buyer Freeze today. You should always accumulate such news driven scrips in market declines.

#Accumulate the shares of TV18 Broadcast Ltd near the CMP of Rs.36.70, for short term targets of Rs.41/45. With inflation coming down, the broadcast companies could see more advertisements spendings.