Trading Calls: Buy GNFC, Hindalco Industries, IGL, Says Expert


Indian markets started Wednesday’s session on a positive note with the BSE Sensex reclaiming the 32,000 mark and the broader NSE benchmark – Nifty – index gaining more than 30 points. Gains were led by energy, metal, realty and infra shares, which were up between 0.5 per cent and 1.1 per cent. In morning deals, Bharti Infratel, GAIL India, Axis Bank, Reliance Industries and Bharti Airtel were among the top Nifty50 gainers – rising up to 2.1 per cent. Domestic markets also took support from the other Asian markets, where shares hit decade highs. The MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.5 per cent to 546.38, a level not seen since December 2007. Australian stocks jumped to one-and-a-half month highs while South Korea’s KOSPI added 0.6 per cent to within a whisker of record peaks. Japan’s Nikkei edged closer to a 21-month top. Wall Street scaled all-time highs overnight.

Market expert Simi Bhaumik shared some of her trading picks:

Simi Bhaumik, research analyst:

Buy GNFC (Gujarat Narmada Valley Fertilizers & Chemicals) on dips for a target price of Rs.439-444 with stop loss at Rs. 400

Buy Hindalco on dips for a target price of Rs. 259 with stop loss at Rs. 249

Buy IGL on dips for a target price of Rs. 1,515 with stop loss at Rs. 1,470

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