We are bearish on the prospects of the NBFC sector and one such stock which is a leader in the said sector is Bajaj Finance. We will advise the clients to avoid finding value in this stock at present prices as the stock has the potential to fall further also.
In the present times of COVID 19, it is better to undertake trading with intraday tips for tomorrow and keep cash in hand and at most go for the short term stocks to buy, to avoid getting locked down for a longer time frame.
Why we are asking you this because if the situation goes out fo the hand of India, we may see the worse situations, and the securities may fall like a thud. Moreover, the FranklinTempleton MF winding up six debt funds is not a good sign for the mutual fund industry and may put pressure on redemption and they may be forced to sell even good assets to honor the redemption request.
However, this view will get negated if stock is able to sustain above the 2000 level. Above 2000 can target 2150,2300 & higher levels.
In the present times of COVID 19, it is better to undertake trading with intraday tips for tomorrow and keep cash in hand and at most go for the short term stocks to buy, to avoid getting locked down for a longer time frame.
Why we are asking you this because if the situation goes out fo the hand of India, we may see the worse situations, and the securities may fall like a thud. Moreover, the FranklinTempleton MF winding up six debt funds is not a good sign for the mutual fund industry and may put pressure on redemption and they may be forced to sell even good assets to honor the redemption request.
However, this view will get negated if stock is able to sustain above the 2000 level. Above 2000 can target 2150,2300 & higher levels.
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