Stock Market Tips With Anil Singhvi: Vikas Sethi recommends Coforge shares ahead of results

Vikas Sethi says the fall has been sharp in the markets in past 3 to 4 sessions. This fall was quite unexpected and was not predicted. Shorting at current levels is not a good idea, instead one should take a contrarian bet by buying into the markets.

Stock Market Tips With Anil Singhvi: Vikas Sethi recommends Coforge shares ahead of results
Sethi says Nifty could fall 50 to 100 points more but that should be bottom. He is not expecting markets to fall further. He believes markets should recover after that: Zee Business
Reported By: ZeeBiz WebTeam
Written By: Rahul Kamdar
Edited By: Harish Dugh
Updated: Thu, Jan 28, 2021
05:12 am
Mumbai, ZeeBiz WebDesk
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Vikas Sethi says the fall has been sharp in the markets in past 3 to 4 sessions. This fall was quite unexpected and was not predicted. Shorting at current levels is not a good idea, instead one should take a contrarian bet by buying into the markets.
 
Sethi says Nifty could fall 50 to 100 points more but that should be bottom. He is not expecting markets to fall further. He believes markets should recover after that.
 

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Sethi recommends buying Coforge at current levels, Q3 results of the company will be announced on Thursday, the stock has already fallen 10% to 15% in past few sessions. Feb Futures should be bought at Rs 2425 with stop loss of Rs 2375 and targets of Rs 2500 and Rs 2550.
 

Religare Broking sys that markets slipped further lower on Wednesday as selling pressure continued across the board. After a weak start, the benchmark gradually drifted lower as the day progressed and settled around the day’s low. Several factors like negative foreign flows combined with no so encouraging earnings announcements dented the sentiment. Besides, caution ahead of the Union Budget and scheduled derivatives expiry also added to the pressure. On the benchmark front, the Nifty ended with a cut of nearly 2% to settle at 13,967.5 levels. In line with the benchmark, all the other indices, barring FMCG, ended with losses wherein metal, realty and auto were the top losers.

 

Religare Broking are not surprised with the recent fall and expect Nifty to test 13700. However, it’s a healthy correction before the event and investors should use it to accumulate fundamentally sound counters on dips. Traders, on the other hand, should maintain extra caution due to the expected rise in volatility ahead. Religare Broking thus suggests trading through options or taking selective trades in the cash segment

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