Zee Business Managing Editor Anil Singhvi highlights that today, Nifty support is around 11650 - 11725 for the day and below that 11550 - 11600 is the strong Buy zone. Higher Range for Nifty is 11875 - 11925 and above that 11975 - 12025 is strong sell zone. For new positions Singhvi said that one should Buy Nifty around 11650 - 11750 range with stop loss of 11550 and target of 11825, 11875, 11925, 11975. One can sell Nifty in range of 11925 - 11975 with stop loss of 12050 and target of 11875, 11825, 11750, 11725. 

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Anil Singhvi also spoke to Market experts Ambareesh Baliga and Rakesh Bansal on their Diwali to Diwali 'Rocket' picks. Ambareesh Baliga picked Mahindra Holidays from Travel and Tourism sector as he believes that its Business model is entirely different when compared with other companies in peer group or other hotels and resorts while Rakesh Bansal picks Escorts from Auto sector, he believes that Escorts is not just another auto stock but it will become an important rural theme and will see good rerating going forward. 

Mahindra Holidays is also a Diwali rocket stock pick due to Covid. In this period, companies in Travel and Tourism sector were completely stuck and were not able to generate any revenue. Government is expected to give lot of support to this sector as it is big employment generator. Business model of Mahindra Holidays is entirely different when compared with other companies in peer group or other hotels and resorts. Mahindra Holidays make resorts from customer’s money, maintain the resorts from annual maintenance fees charged to customers, so whether the customers use their facility or not, company generates their income from customers.  

Also, the asset that the company develops turns free as the membership is for 25 years and customers can only use facilities only for only 25 years. At present, the company has over 2.5 lk customers. State wise restrictions seems to be ending now, capacity utilization seems to be improving. Looking at Q2 results, Top line is only 12% lower while bottom line has already moved up 16%. 

Ambareesh Baliga believes there will good recovery in numbers in next 2 quarters. Suggest investors to buy at current market price of Rs 168 with target of Rs 280 by next Diwali. It can be a multibagger if one stays invested in this company for next 2 to 3 years.  

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Rakesh Bansal recommends buying Escorts around Rs 1195 levels. One should wait for the buying levels to come rather than buying immediately. The stock has formed a strong base around Rs 1150 and is looking extremely good technically. Results of Q2 have strong, margins have moved up 900 basis points to 18% from 9%. 

Rakesh believes that Escorts is not just another auto stock but it will become an important rural theme and will see good rerating going forward. Rakesh further highlights that technically the stock is trading so strong that he is married to this pattern and believes strongly that the stock can touch levels of Rs 1500 in next 6 – 8 months.