Yesterday saw the second consecutive day of rally in the market. Along with the giants, there was good buying in mid and smallcap stocks as well. Bank Nifty was also up 2 per cent on the back of good buying in banking stocks. Market sentiments got a boost on the back of good global cues and fall in commodity prices. In yesterday’s trade, almost all sectors except metal closed in the green.
The BSE Sensex closed at 54,647 with a gain of 1,200 points. Nifty formed a strong bullish candle on the daily chart yesterday and closed at 16,345 with a gain of 330 points.
in yesterday’s business Indiabulls Housing Finance The derivatives segment was the biggest gainer and closed at Rs 150.30 with a gain of 11 per cent. likewise Ashok Leyland The F&O segment was the third biggest gainer and closed with a gain of 7.5 per cent at Rs 106.75.
InterGlobe Aviation There was also a strong rally yesterday and it closed at Rs 1,709 with a gain of 6.9 per cent, while Indian Hotels closed at Rs 207.3 with a gain of 6.8 per cent.
Now let’s know what is the investment advice of Anandarathi’s Jigar Shah on these stocks
InterGlobe Aviation– Jigar Shah believes that the full signs of bullishness in this stock are still there and it looks ready for further rise. In such a situation, investors would be advised to start adding this stock to their portfolio in small amounts from the current level and keep adding this stock to their portfolio at lower levels up to Rs 1600. Strong support is visible for this stock at Rs 1550 level. Keep this stoploss as well. Further in this stock we can see the level of Rs 2050.
Indiabulls Housing FinanceThere is a possibility of bullish momentum in this stock. Even at the current level, it would be advisable to buy this stock in installments. For this, place a stop loss at Rs 125. Further this stock can show us the level of Rs 210.
Ashok Leyland From an investor’s point of view, this stock looks very attractive. Even at current levels, we should buy small amounts of it. If it comes down to Rs 100 level, we should still buy in it. For this buy, put a stop loss at Rs 90, while the target will be Rs 140-145.
Jefferies sees a good buying opportunity in this decline of auto stocks, know where is its buying advice
Indian HotelsIn the current situation, the stock of Indian Hotels is seen in wait and watch mode. The stock has shown a rise of 15 per cent so far from its low of Rs 180. In such a situation, from the point of view of traders, wait till this stock comes to Rs 190-195. Once this level comes around, a new breakout will be seen in it and then we will see this stock going up to Rs 235. Support is visible at Rs 180.
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