In a recent interview with ET Now, market expert Sneha Seth shared her insights on trading strategies for five prominent stocks: Adani Gas, SBI, Garden Reach, IRB Infra, and GMR Airports. With the market experiencing fluctuations, these recommendations could guide investors in making informed decisions.
Adani Total Gas: Time to Exit?
Sneha Seth has taken a bearish stance on Adani Total Gas, suggesting that investors consider exiting their positions. The stock is currently trading below its 20-day moving average and is at risk of breaking the crucial support level of ₹680. If this occurs, it could potentially drop to the ₹640 mark. The resistance level is identified between ₹740 and ₹750. As of the latest trading session, Adani Total Gas closed at ₹688, reflecting a modest increase of 1.34%.
SBI Bank: A Strategic Buy Opportunity
For State Bank of India (SBI), Seth sees a favorable buying opportunity. She recommends purchasing the banking stock on dips around ₹790-805, with an upper resistance at ₹840. Investors should implement a stop loss at approximately ₹770 to manage risk effectively. Given the current market correction and SBI’s strong fundamentals, this could be an opportune moment for long-term investors.
Garden Reach: Hold for Long-Term Gains
Garden Reach Shipbuilders & Engineers has shown impressive performance in 2024, boasting a remarkable 64% return year-to-date. Sneha advises holding onto this stock for long-term gains while waiting for fresh buying opportunities around ₹1,500. Currently trading at ₹1,418 after a 2.44% increase, investors should remain patient despite potential short-term volatility.
GMR Airports: Hold Positions Amid Correction
In the case of GMR Airports, Sneha recommends maintaining positions as the stock undergoes a correction phase. Currently trading with support around ₹75-76, she suggests setting a stop loss at ₹72. Despite experiencing a negative return of 4.43% year-to-date, GMR Airports has potential for recovery as market conditions stabilize.
IRB Infra: Consider Exiting
For IRB Infra, Seth advises exiting the stock unless investors are looking for long-term holdings. The stock recently closed at ₹47.78 after a drop of 1.53%. With its year-to-date return of 14.17%, it may be prudent for investors to reassess their positions in light of recent corrections.
Conclusion
As market conditions fluctuate, these insights from Sneha Seth provide valuable guidance for navigating investments in key sectors such as banking and infrastructure. While stocks like SBI and Garden Reach present buying opportunities or hold strategies, others like Adani Total Gas and IRB Infra may require caution or exit strategies.
Disclaimer
This article is intended for informational purposes only and does not constitute financial advice. Investors are encouraged to conduct their own research and consult with financial professionals before making investment decisions regarding any securities mentioned herein
