Buy Bhel, Vedanta & Tata Communications; avoid Delta Corp: CA Rudramurthy
CA Rudramurthy, Founder, Vachana Investments, says “I will be a buyer at BHEL at current market price. And I will keep a strict stop-loss of Rs 124 and look at targets of around Rs 133 first to come and then to those levels of Rs 145 to 150. So buy BHEL. avoid Delta Corp. Vedanta has shown clear signs of reversal. I will be a buyer in Vedanta, looking at targets of Rs 235 with a stop-loss of Rs 226. Tata Communication also looks very strong to me. I will be a buyer looking at targets of Rs 1,750 with a stop-loss of Rs 1,695.”
What do you make of this breakout in Vodafone Idea? Also while there is no new news flow as such today but Macrotech Developers saw quite a bit of action?
First of all a word on Idea. For the last four trading sessions, this stock has definitely shown positive price action with volume. So, for me this is a breakout which will stay. So, the breakout which has happened now at around Rs. 12.50 will continue and we have also seen yesterday a close of about Rs. 12.50. So, this stock is headed upwards and can move towards levels of around Rs. 17-20 range., I will keep a stop loss of Rs. 12 and continue holding if I have Vodafone or even buy at current level looking at targets of Rs. 17-20 with a stop loss of Rs. 12.
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When it comes to Macrotech Developers, again this stock, after sideways consolidation for a long time, on Thursday is giving a breakout. Based on the current market price, I presume the close will definitely be above that breakout zone of around
