Stock of the day: Anil Singhvi recommends selling NALCO and 2 more stocks; check out stop losses
Indian equity indices began sharply down on Monday, following bearish indications from Asian rivals.
At 10.59 AM, the Sensex was down 2,019.35 points, or 2.49 per cent, at 78,960.19, while the Nifty was down 612 points, or 2.48%, at 24,105.75.
Global markets today
Seoul, Tokyo, and Hong Kong were all trading considerably lower, while Shanghai rose.
Anil Singhvi suggests selling 3 stocks
In the midst of this, Anil Singhvi, market expert and Zee Business managing editor, proposes selling three stocks. These equities include NALCO, Eicher Motors, and SAIL. Let's learn about their target prices.
1- SAIL- Target
Anil Singhvi has selected SAIL as the 'stock of the day'. He said that this stock has to be sold in the future. For this, the stoploss has to be kept at Rs 149. Targets are Rs 141 and Rs 138. Market Wizard says weakness in metal stocks is possible amid global concerns.
2- Eicher Motors- Target
Anil Singhvi has selected Eicher Motors also as the 'stock of the day'. He said that this stock has to be sold in the future. For this, the stop loss has to be kept at Rs 4,790. Targets are Rs 4,625 and Rs 4,575. Due to global weakness, there may be profit booking in auto stocks, Singhvi said.
3- NALCO- Target
Anil Singhvi has selected NALCO as the 'stock of the day' and suggests selling. For this, the stop loss has to be kept at Rs 189. Target is Rs 181 and Rs 178. Market wizard says metals are weak due to fear of global recession. Its effect will be visible on the stock.