The latest analysis and commentary by stock market gurus Ratnesh Kumar, MD & CEO of BOBCAPS and Mitessh Thakkar of mitesshthakkar.com on what moved the markets through the week.
Speaking about the market volatility and election 2019, Ratnesh said, “General elections is kind of once in a five year event. So, the outcome of that is really very important. You have a lot of noise which kind of increases in the media and there are no directions available in terms of exit polls, etc. so there is fair bit of speculation and guess work which goes on. So I think it is fair enough to say that volatility till the results date is bound to be there.”
“Oil has always had an impact on the market and on our currency. However, I would also look at it more of a geopolitical action which is driving the oil in terms of Iran waivers, etc. rather than demand side of the equation,” he added.
“If you do get a stable government post May 23, then there is a real possibility that the relief factor will get the market to the new high,” Ratnesh said.
Stock specific, Thakkar said, “Aurobindo Pharma is a buy. I think the overall setup looks quite positive. Rs 815 should be the stop loss, Rs 875 thereabout should be your first target. Adani Enterprises is a sell. Keep a stop at Rs 135 and look for targets of Rs 120.”Follow stock recommendations by Mitessh Thakkar here:
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