Aditya Agarwala's 2 top trading recommendations in a choppy market
Aditya Agarwala, Co-founder & Director, Invest4edu, says “if anything, markets are becoming a little choppy and a little dull at the moment. On the upside, clearly 22,300 is acting as a major hurdle and every time the market makes a dash towards 22,300, we do see a bit of a profit booking. Bulls are also protecting 22,100 to about 22,000 levels from where markets actually reversed in trade yesterday. So, all in all, the range has shifted from 21,500 to 22,000 to now maybe 22,300 on the upside to about 22,000-21,900 on the downside.”
Agarwala further says: «The first trading pick is Indus Towers, this is one stock which never used to pop out and suddenly after forming a base stock is now inching higher and then making higher highs, higher lows. So, maybe at current levels one can look at initiating fresh long positions, for a target of Rs 251 to about Rs 260 on the upside with a stop loss at Rs 228 on the downside. The second stock is Tata Consumer. One can look for a target of Rs 1210 on the upside with a stop loss at Rs 1130 on the downside looks like a good trade.»
How are you trading and what is your area of preference?
Aditya Agarwala: Markets are in a bit of a lull. Nothing much is happening for the headline indices. There is a bit of an up move in the broader markets. But again, talking of Nifty 50, I am not too gung-ho, to be honest, on the markets. We have broken out from that long consolidation neckline which everybody was eyeing, but to be honest, we have not seen that kind of follow-through rally in
