2 Top Stock Bats for the nearest period from Rahul Sharma’s metal sector

JM Financial Services Rahul Sharma says, “Silver Lining is the index such as Reliance, HDFC Bank, Bajaj Twins, which is doing relatively well and at the same time we have seen bank Nifty doing well like yesterday’s session.”

The Nifty is very range, which is very flat for the third session. The simple question, where is the action? In fact, there are extensive markets outperforming in the last two sessions. So, do we see the contrast there?
Rahul Sharma: Well, the Nifty is not in a man’s land, nor is it related to bulls or bears at this time of time. Now, markets are probably waiting for a trigger to give a big breakdown or breakout. Now, we all know 22,800 and its importance.

So, if we break down, it should open the door for 22,500. Side Late, the current level is 23,000. Therefore, 23,000 are out. We close over it, the doors open for 23,300. So, once we come out of this 200-point tight range, in which we are trading then there is a 300-point move on both sides.

Now, the silver lining is heavyweights like Reliance, HDFC Bank, Bajaj twins that are doing a great deal of well and at the same time we have seen bank Nifty doing well like yesterday’s session.

In fact, Bank Nifty has not really broken the previous month’s low, so in fact it is high in the last few trading sessions compared to the Nifty.

And this means at least meaningful bounce it is very around the angle and 23,300 is something we expect in a very short period of time.

Now, this is a very difficult market. The instability is something that is going on with what is happening overnight. Therefore, if there is an overnight statement on tariffs or any other development by Trump, it produces an effect and we have seen a gap down from here.

So, at this time, focus your attention on the chosen stocks that are doing well. One of them is Reliance Industries. We recommend buying in Reliance Industries.

In the last three or four trading sessions, stock has been doing relatively well than the Nifty and since December has structurally created a base around 1200 marks in the stock, and time and again the support of that level has been the last multiple efforts that the stock saw to break that level. Is
Therefore, we think, from a short -term to medium -term perspective, from a permanent point of view, dependence can be purchased at this level. Traders can find targets of 1,270, 1,275, while a little medium-term target may be around 1,340.

Therefore, Reliance is something we are choosing this time on time. Other than that, it is a very slippery land for the market. The conviction is not building on both sides, so we are keeping our innings as much as possible.

But today, the overall Energy is doing the basket very well. Well, of course, all of these names have been defeated by names and we are seeing good benefits on the board, from the OMC side, some of these ENERGY Raza-related counters like NTPC, one of the top gainers today and even the gas space. Looking at a very good pace. So, any of the stock you are with the Energy basket?
Rahul Sharma: Therefore, the kind of heartbeat that these stocks took, a little restoration or bounce back was something that was very expected and it seemed to have begun yesterday. In fact, these are some counters where wealth has been destroyed.

Many traders are also stuck on the derivative side. So, look at the bounce back as an exit opportunity, at least for this series until the February series go.

Therefore, we believe that these bounce can be seen to relax your position. Now, something that looks good, rack, PFC twins are those who are coming to our by radar.

The REC can be very well moved to the 420 mark. This stock, again, is one of the names where the motion indicators are interrupted. PFC is the same, but it is best to trade one of the two because they both move together.

So, the rack is one. Anyone can put a stop loss at 390 and can be longer. It is best to wait and watch the ENERGY Raza stocks and make the market a firm ground before taking any serious commitments on both sides.

Another place that I wanted to do was a metal basket because what we are seeing is that all the goats around the Dollar Lar Index are now slightly reduced and at home we are looking at stocks like Tata Steel, Hindalco. Receive again. Any stock that is standing according to you because yesterday was just reading that bullish commentary or bullish views are being shared on aluminum commodity, especially on aluminum commodity, so anything to join between it as well as any stock special idea?
Rahul Sharma: Therefore, as the metal index has completed its consolidation and it looks like it is trying to make a breakout. Now metal is something that runs a lot with what happens in a global setting.

But by saying that some counters like Tata Steel are something we like, very similar setup of the metal index and a possible breakout here can take us somewhere around the 145 mark, so traders can see to buy Tata Steel at this level. Jump can be expected to be 133 on damage, and a jump type of Rs 7-8 fast.
We had purchased on Hindalco in which we advised traders to book profits in today’s move, maybe the next target of stock is around 660, so 20 rupees could be in Side -to -be Hindalco.

The risk reward is not so convenient in Hindalco because it is in Tata Steel, so be very selective. Metals are definitely looking good. Tata Steel is going to go. Apart from that, there is something like Vedanta that we are keeping an eye on.

Compared to what the stock is relatively well kept, the stock can move to the 450 mark, compared to what has been done throughout the field and from a business point of view.

Therefore, this can be purchased again with a stop loss at 420 and can also be expected to have a 20-rupee side of a sidewalk. Therefore, the net-net metal basket is looking right to answer your question and it is best to take counting bats.