Buy, Sell, Or Hold: Infosys, RIL, Asian Paints, Canara Bank, Zydus Life—Ask Profit
Ashish Maheshwari of Arihant Capital Markets and Rajesh Palviya of Axis Securities shared their views on whether investors should buy, sell, or hold stocks like Infosys, Asian Paints and Canara Bank
Is HDFC Bank a good choice for a long-term outlook? Should you keep holding Infosys Ltd. and Canara Bank? Is Zydus Life's valuation sustainable?
Ashish Maheshwari, director Of Arihant Capital Market and Rajesh Palviya, vice president research (head technical and derivatives ) at Axis Securities Ltd. answered these investor queries and more on NDTV Profit's Ask Profit show.
Reliance Industries (CMP: Rs 1,273.40)
Palviya: Buy
Buy in a staggered manner; stock corrected from recent swing high.
Major support is 1,200 on the near term on the downside if correction continues.
On the high side, 1,350 is a major supply zone.
Infosys ( CMP: Rs 1,859.05)
Palviya: Hold
Most IT stocks have been doing well in the last couple of weeks.
Infosys is comfortably holding above the 20-day moving average.
If stock continues to above 1, 840 zone, upside target: 1,900-1,920 in the near term to short term.
Hold at a stoploss of Rs 1,835.
HDFC Bank (CMP : Rs 1,763.90)
Maheshwari: Hold.
Shown a lot of strength compared to other private sector banks
The market can't go up without aid from HDFC Bank.
Optimum Point for Long Term: 1,725-1,740 Levels.
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Asian Paints ( CMP: Rs 2,547.80)
Maheshwari: Do not recommend buying.
Pressure to continue on the stock for more time.
The company has to invest more in sales valuations.
Canara Bank ( CMP:Rs 103.80)
Palviya: Hold.
Public sector undertaking bank stocks like Canara are showing a recovery from recent swing lows.
Breakout of 110, possible target towards 120-125 in the near term.
Advice to keep a stop loss of around 96 to hold position.
Zydus Lifesciences (CMP: Rs 968.10)
Palviya: Sell
The stock slipped below all its important moving averages.
If it's not crossing above 1,020, the trend is likely to remain on the bearish side.
Possible downmove can extend to level 930 or 900.
Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are of their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.
