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Want to be rich? Here are the stocks traders can bet upon today !
Seconding the bull rally to continue at Indian markets, equity experts have strongly recommended some strips listed at the Indian indices on which traders can bet upon. Such strips are mainly from the banking, metal, auto, NNBFC and housing and finance. Commenting upon the expected strips that looks technically strong in the markets Simi Bhoumik, Technical Equity Analyst who (officially registered with the SEBI) told Zee Business online, "Stocks from banking, NBFC and housing finance looks strong and major stock in the sectors that traders can bet upon are SBI, Bank of Baroda, ICICI Bank, Muthoot Finance, Capital First."
Giving details of some strips that traders can give a view while going for Wednesday trade Bhoumik said, "SBI stock can be bought at around Rs 300 levels with a stop loss at Rs 295. Its immediate target is Rs 320." On Bank of Baroda she advised taking buying position at Rs 115 taking stop loss at below Rs 110 and book profits when it reaches around Rs 139-145 levels.
Strongly recommending the housing finance stocks Muthoot Finance and Capital First Bhoumik said, "Traders can take buying position on Muthoot Finance above Rs 500 levels with a stop loss at below Rs 490 and book profit in between Rs 540 to Rs 555 levels." On Capital First she recommended buying at Rs 570-575 levels with a stop loss below Rs 555 as the strip may soon touch the Rs 640 levels.
Backing metal stocks strongly Shrikant Chauhan, Senior VP — Equities at Kotak Securities told Zee Business online, "Metal stocks are at its lowest levels and have done well on Tuesday intraday trade. I recommend Vedanta and Tata Steel to the traders to bet upon," adding "Traders can take a buying position in Vedanta and Tata Steel with a stop loss at Tuesday closing levels and book profits in these strips after 2-3 percent rise."
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