How market wizard Anil Singhvi views Birlasoft, Tata Chemicals, three other stocks today
As domestic equity benchmarks Nifty50 and Sensex continue to rise for a second straight day, taking positive signals from global markets, Zee Business Managing Editor Anil Singhvi shares his thoughts on a bunch of stocks. Here's what the market wizard suggests on stocks such as Can Fin Homes, Hindustan Copper, Tata Chemicals, and Birlasoft:
As domestic equity benchmarks Nifty50 and Sensex continue to rise for a second straight day, taking positive signals from global markets, Zee Business Managing Editor Anil Singhvi shares his thoughts on a bunch of stocks. Here's what the market wizard recommends on stocks such as Tata Chemicals, Can Fin Homes, Hindustan Copper, and Birlasoft:
Tata Chemicals results weak on all fronts: Anil Singhvi
The market wizard suggests selling Tata Chemicals futures for targets of Rs 1,070 and Rs 1,055 with a stop loss at Rs 1,120, citing the Tata group company's weak quarterly numbers.
Tata Chemicals' quarterly margin has contracted to 12.7% from 22% and the management's outlook looks cautious, he points out.
Can Fin Homes results in line with expectations: Anil Singhvi
The market guru expects some short covering in the stock. He suggests buying Can Fin Homes futures with a stop loss at Rs 735 for targets of Rs 760 and Rs 770.
Birlasoft results slightly short of expectations: Anil Singhvi
The market wizard suggests selling Birlasoft futures for targets of Rs 669 and Rs 662 with a stop loss at Rs 689.
Poonawalla Fincorp results strong on all fronts: Anil Singhvi
The market wizard suggests buying Poonawalla Fincorp shares for targets of Rs 500 and Rs 510 with a stop loss at Rs 480.
Metals in a strong uptrend: Anil Singhvi
The market wizard points out that LME copper futures rose two per cent on Monday.
He suggests buying Hindustan Copper futures for targets of Rs 399, Rs 404 and Rs 408 with a stop loss at Rs 384.