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“Vodafone is headed upwards and can move towards levels of around Rs. 17-20 range. I am going to 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.”
According to CA Rudramurthy, Founder of Vachana Investments, the market is expected to consolidate at current levels with small corrections. He believes that the market will test all-time highs soon. He advises against shorting the market unless it breaks long-term support levels. He also suggests buying MCX stock at current levels, as it is in an uptrend and is expected to reach levels of Rs 2,300-2,500.
CA Rudramurthy, Head of Research at Vachana Investments, advises caution in midcaps and smallcaps as these stocks have started correcting. He points out that yesterday and today there has been underperformance in these sectors. He suggests selling when you can and not when you want, and shifting from momentum to value. He also mentions that the India VIX has been volatile but has not shown any specific moves. He recommends shorting weaker stocks such as Muthoot Finance and M&M Finance, while avoiding selling strong stocks like Escorts, HDFC Bank, and SBI.