Market experts Gaurang Shah of Geojit Financial Services and Mitessh Thakkar of mitesshthakkar.com answer viewer stock queries. They also spoke about how markets fared in trade on Wednesday.
Answering a viewer query on Zee Entertainment, Thakkar said, “The intraday low today was Rs 321.6. If that holds on, there could be a bounce back to about Rs 365-370 zones. However, I think overall it looks like the stock will break these lows eventually. Since it has fallen for last five days, it has fallen about 120 points, there is a chance that you might get a 35-40 point pullback but that should be it. So, either you sell below Rs 320 or on a bounce back to about Rs 360.”
On Vedanta, Shah recommended a hold. “After seeing the numbers, target price has been scaled down to about Rs 196. So prudent on my part to advise the investor that if the investor can average, it is going to be something that will play out over a strategy long term and could have a profitable exit. However, need to average over here,” he said.
They also spoke at length about Reliance Capital and Suzlon Energy.
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