kunal bothra: Kunal Bothra’s 2 buy-on-dips trading picks for next week

“There are two calls which I need to counsel for the approaching week. Considered one of them is a purchase name on and the opposite is a promote name on Ltd,” says Kunal Bothra of kunalbothra.co.in


Within the week passed by, some sectors have performed properly. One such was the auto pack. Going ahead, what sort of energy can this specific sector present? Additionally what will likely be your picks?
We’re seeing a really attention-grabbing development shaping up for the auto shares. It isn’t simply in the previous few days or few weeks, have we seen the auto shares coming to life. This course of has been happening for the final three months.

In contrast with the February 2022 lows, these shares have performed remarkably properly for themselves. I believe Mahindra & Mahindra was nearly at 727.40 ranges nearly some three-four months again and the inventory is now at 4 digit plus mark at a time when the general markets and the indices have gone by way of a really sharp correction in an enormous section of volatility.

as properly has performed remarkably properly in that point span. has performed fairly properly and the shares like , even have performed fairly properly. So, it’s not simply restricted to 1 or two shares. It’s the complete sector which is doing fairly properly or the vast majority of the shares throughout the sector which have performed exceptionally properly.

That may be a signal that this energy ought to proceed for the sector over the close to to medium time period. My picks stay M&M in addition to Maruti. I consider merchants might have a look at the purchase on dips alternative in these two shares.

There are two calls which I need to counsel for the approaching week. Considered one of them is a purchase name on BPCL. We might begin to get into a robust turnaround mode. On Thursday, BPCL confirmed a exceptional candlestick sample, it was a robust indication of a breakout by way of worth, volumes in addition to a robust change by way of indicators for BPCL. I might anticipate this inventory to begin moving into an outperforming mode and would suggest a purchase on BPCL. The targets needs to be saved at Rs 350 with a cease loss at Rs 317.
The second can be a promote name on HDFC Ltd. The inventory on Friday noticed a really sharp crackdown proper from the opening. It opened 1.5% decrease however all through the day, the inventory noticed a constant bout of promoting stress. I’m sensing that it’s got to do with extra of the bigger of the institutional palms promoting the inventory and with this promoting stress, HDFC has opened yet another leg on the draw back and will most likely get to an extra corrective mode suggesting a promote with the goal of Rs 2,125 cease loss at Rs 2,225.