Stock of the Day: Anil Singhvi recommends Vedanta Future for great returns

Stock of the Day: Anil Singhvi's market strategy is known for its incisiveness. It provides a solid idea to stock market traders as to which direction the intraday session will move. The show-stopper of the Market Guru's intraday strategy is 'Stock of the Day' as it directly gives a stock market tip to the traders who believe in stock specific trade. In today's Stock of the Day, Singhvi recommended Vedanta Futures to buy for the target of Rs 140.

Speaking on the reason that made him pick Vedanta Futures as his stock of the day, the Market Guru said, "Yesterday, Vedanta has given notice to the BSE about the scheduled board meeting on 15th September. In this board meeting, some development in its delisting is expected to come because the company has to take a decision on it and the 15th September meeting can be that meeting when its officials can reach a conclusion on its pricing."

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Singhvi went on to add that Vedanta Futures has support from the global markets too. He said that post-Wall Street recovery, global sentiments have turned positive and in such a changed stock market scenario, metal stocks are expected to showcase some recovery. Since, Vedanta is one of the market leaders in metal segment, Vedanta Futures can be a better bet for the stock market traders.

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On his recommendations to the traders in regard to Vedanta Futures, Singhvi said, "One can buy Vedanta Futures maintaining the stop loss at Rs 126-27 for the immediate target of Rs 133 to Rs 135. Those who want to hold, can hold it till 15th September for the target of Rs 140 levels."