Mkt headed higher; 2 stocks to bet on: Aditya Arora

Aditya Arora, Adlytick, says “there are a lot of good picks. But I have two stocks as of today. The first one is Dixon Technologies, that could be bought at Rs 6993, stop loss is Rs 6700 and target is Rs 7300. Second one is Lodha, which could be bought at Rs 1049, Rs 970 stop loss and Rs 1150 is the target.”



Are you reading into this recovery constructively? Do you think we are headed higher or is the correction still not over? Which camp do you belong?

Aditya Arora: I am in the camp of the bulls. I am very constructive on the market and I think we have seen very healthy consolidation in the private bank space, whether you look at HDFC Bank, Kotak Bank, Axis Bank, ICICI Bank, all have done pretty well last week when the market was brutally falling off. It was a falling knife in smallcap space and midcap space, but if you look at relative strength of private banks, they show signs of very good accumulation and the data buildup is also very good.

If we look at HDFC Bank, the kind of shorts which have got squared off last week is phenomenal. So that is an early sign that a storm is probably coming in favour of bulls and I think the market is headed much higher from here. So, we are ready for a blast on the upside.

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What would be your top picks?

Aditya Arora: I think I like all of it. There are a lot of good picks. But I have two stocks as of today. The first one is Dixon Technologies, that could be bought at Rs 6993, stop loss is Rs 6700 and target is Rs 7300. Second one is Lodha, which could be bought at Rs 1049, Rs 970 stop loss and Rs 1150 is the target.

Is there anything specific and exciting in Nifty IT as well? Last week, it was a top sectoral gainer. Today, it was a bit subdued. Anything in the Nifty Midcap IT that you would look at?

Aditya Arora: In Nifty Midcap IT, Birlasoft had corrected quite a bit this morning, that could be accumulated at Rs 736.75; stop loss must be at Rs 710 and target at Rs 760-770.

William Murphy

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