Reliance, NTPC, and Adani Power stood out as accumulation and growth plays, while Laurus Labs and Biocon were flagged for caution.
In an ask-me-anything (AMA) session hosted on Stocktwits on Tuesday, SEBI-registered analyst Vatsal Khemka shared his outlook on ten stocks.
He was bullish on India’s power and infrastructure plays such as NTPC, BHEL, Adani Power, and Adani Ports, while recommending caution on stocks like Laurus Labs and Biocon. Reliance and Bajaj Finance, he noted, could offer better entry opportunities at lower levels.
Let’s take a look at his recommendations:
Reliance Industries: Recommend waiting for ₹1,300 levels for a big accumulation.
BSE and Adani Power: Bullish on both stocks. Over the next six weeks, they could trend higher given the current market momentum, though it’s tough to pin down an exact price target right now.
NTPC: Bullish on this stock as it continues to strengthen its presence in the green energy space, a solid play on India’s clean energy transition.
BHEL: Bullish on this stock. The company is showing improving order inflows and strong execution capabilities. Its focus on renewables and modernization of power equipment adds to long-term growth prospects. And it looks well-positioned to benefit from the ongoing capex cycle in India’s power and infra sectors.
Adani Ports: Bullish on this stock, its robust cargo volumes and steady capacity expansion continue to drive growth. Strong fundamentals and strategic port assets position it well to benefit from India’s rising trade activity.
Biocon: The stock looks sideways on the charts. He believes that it would be better to wait for a clear breakout or dip before taking fresh positions.
Bajaj Finance: A strong company, but from a technical perspective, it’s better to wait for levels around the ₹860 range to enter. From a long-term view, however, it can be considered a buy, according to him.
Techno Electric: The stock is already trading near strong levels. He expects limited upside from here unless fresh triggers emerge.
Laurus Labs: Bearish on Laurus Labs after a sharp upmove, the stock looks stretched and may face further pressure. He advised traders to stay cautious until it forms a stronger base.
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