Despite showing momentum throughout the day, both indices moved into the red zone towards the end of Tuesday. Although IT stocks showed momentum, they could not pull the indices up till the end. This is because banking stocks witnessed a major decline. As a result, both Sensex and Nifty closed lower compared to the previous day. Bank Nifty also took a hit. In this situation, SEBI-registered research analyst Sudip Brahmachary (Sudip Brahmachary, INH000011042) has given advice on four stocks for May 20.
May 20 – Which four stocks to watch?
INFY (Infosys Ltd)
Buy: 1190. Target: 1220. Stop Loss: 1155.
Tuesday’s market’s top gainer. The company’s stock price rose 4.96 per cent on this day. Fourth quarter EPS exceeded by 16.92 per cent.
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HCLTECH (HCL Technologies Limited)
Buy: 1182. Target: 1205. Stop Loss: 1148.
Second largest among Tuesday’s Nifty gainers. Rose nearly 3 per cent. Consistency has been seen in margin delivery.
ETERNAL (Eternal Ltd)
Buy: 248. Target: 254. Stop Loss: 237.
How many urban consumer goods are being used is reflected in this stock. If geopolitical problems are resolved and investor confidence returns. If consumers have an assured income and no worries about economic problems, this sector tends to grow. On May 19, excluding IT, this stock’s trading volume caught attention. Currently, Blinkit has maintained the main progress for this company. The company has a target to increase the number of stores. In the fourth quarter, revenue increased 38 per cent in YoY terms. Currently, given the situation, this is an expensive share, but considering future growth, buying at this price may be seen as a market.
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TCS (Tata Consultancy Services)
Buy: 2310. Target: 2340. Stop Loss: 2275.
India’s largest IT company. This stock has jumped from multi-year lows. There will be approximately 4.5 per cent dividend yield, which has provided a fundamental floor.
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