Updated Nov 15, 2024 08:43 IST
Market expert suggests trading strategy for Adani Gas, SBI, Garden Reach, IRB Infra and GMR Airports.
Article Highlights
The market expert Sneha Seth in a conversation with ET Now Swadesh has recommended trading strategies for top 5 stocks – Adani Gas, SBI, Garden Reach, IRB Infra and GMR Airports – with BUY, SELL or HOLD ratings.
The market veteran Sneha Seth is bearish on Adani Total Gas, a company of Adani Group. The stock is trading its 20-day moving average low. Suggesting ‘exit’ in Adani Total Gas, Sneha says ‘the stock might break the support of Rs 680 to hit as low as Rs 640-mark’.
Rs 740-750 mark is working as resistance for the stock.
On Thursday, Adani Total Gas share closed at Rs 688 per share with a rise of 1.34 per cent.
Nifty is trading below 20-day and 200-day exponential moving average. There’s a good correction in the market, Sneha says.
SBI Bank stock, Sneha says, seems a good option. She suggests to fresh buy the banking stock in a dip of around Rs 790-805. There’s a resistance at the upper side of Rs 840. Sneha suggests a stop loss around Rs 770 apiece.
The stocks of Garden Reach can buy for long term around Rs 1500. Sneha suggests hold for the stock, waiting for fresh buying for long term. There’s a possibility of dropping more low as of now, Sneha says.
Stocks of Garden Reach shipbuilders & enginers increased 2.44 per cent to Rs 1,418 apiece. In 2024, Garden Reach shipbuilders and Enginers share has given 64% returns.
Stocks of GMR Airports is in correction phase with a support of Rs 75 to 76. Sneha suggests a stop loss at Rs 72 with a hold rating at this price. There’s a support at Rs 74.
In 2024, GMR Airports stocks have given a negative return of 4.43 per cent on a Year-To-Date basis.
There’s a good correction in the counter, Sneha says. She recommends exit in the stock of IRB Infra when not looking for the long term.
IRB Infra stock on Friday dropped 1.53 per cent to close at Rs 47.78 apiece. In 2024, the stock has given a return of 14.17 per cent on a Year-To-Date basis.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
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