This Article is From Jul 27, 2016

Buy Yes Bank, Dr Reddy's, Vedanta: Sumeet Bagadia

Buy Yes Bank, Dr Reddy's, Vedanta: Sumeet Bagadia

Sumeet Bagadia says till the time Nifty holds 8,540, dips should be used as buying opportunity.

Sumeet Bagadia, associate director at Choice Broking, is bullish about stocks. Investors should buy stocks as long as the Nifty holds 8,550-8,540, he said, adding that a move above 8,650 could extend the rally by another 100-150 points.

Stock Talk

Buy REC: Recent correction in REC is a buying opportunity as the stock looks good on charts. Investors can buy REC around Rs 210 or at current levels with stop loss at Rs 200 for target of Rs 230-240.

Buy Dr Reddy's Labs: The stock has corrected from Rs 3,700. Dr Reddy's Labs shares are likely to take support around Rs 3,300. Investors should look to buy this stock near support levels of Rs 3,280-3,300 for target of Rs 3,600 in short term.

Hold Bajaj Finance: The stock gave a good up move on Tuesday. Fresh buying is not advisable at current levels, but investors holding the stock continue to do so. The stock is likely to face resistance around its psychological level of Rs 10,000.

Buy Yes Bank: The stock is trading at lifetime high levels. Fresh longs can be created with a stop loss at Rs 1,170 for targets of Rs 1,250 - Rs 1,280 levels. Those holding should continue to hold.

Buy Hindustan Zinc: Metal stocks are looking good on charts. Hindustan Zinc faces resistance at Rs 210 and if it breaks above Rs 210 it can rally 15-20 per cent in next six months. The stock can touch Rs 240 - Rs 250 soon and investors should look to buy this stock on correction up to Rs 190 with stop loss at Rs 180.

Buy Vedanta: Vedanta looks good on charts and it can go up to Rs 200 soon. Dips below Rs 160-165 will be a good buying opportunity.