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00:00 And the price target which we are setting right now for this counter is 250-80 current
00:04 limits.
00:05 All right, understood.
00:07 Let's quickly dive into the questions now.
00:09 The first one's coming from the line of, this one's on J&K Bank and the name of the person
00:16 is Nirmit.
00:17 So, Nirmit, thanks for writing in.
00:19 We're taking your question.
00:20 J&K Bank share, they've already bought in the stock at 125 per share.
00:24 Now, Neelesh, they want to know if they should book profits.
00:27 If we can pull up the chart, yeah, Rs. 141.
00:31 And so that's slightly higher than the buying price.
00:34 Would you suggest maybe booking 50% of the profits and keeping at it or should you hold
00:41 on to it fully?
00:42 So, Smriti, absolutely, it's advisable to keep booking profit at the high level because
00:49 the kind of run-up that we have seen in last few months now, specifically in the mid and
00:54 small cap stocks like J&K Bank, Bank India and majority of the PSC banking space, I think
01:00 given this kind of run-up, it is prudent to keep booking profit, especially book half
01:05 a profit at current level.
01:07 And for the remaining position, keep a trading stop-loss.
01:09 I still feel there will be further upside that might continue towards 150 to 155 on
01:16 immediate basis.
01:17 But for that, keep a trading stop-loss below 131.
01:20 And for the remaining position, I think one can stay put.
01:23 All right.
01:24 Understood.
01:25 Next up, we have a question from Siddharth and they are talking about BPCL.
01:28 They have bought the share at 473 levels.
01:31 It's considerably higher from that price.
01:34 Now, they want to know if they should continue holding on to it or book profits, this is
01:39 for the longer term, Aastha.
01:41 Oil, we have seen a lot of volatility and we will probably see it going further as well.
01:45 What would you suggest a person holding BPCL to do about it?
01:50 Because the profits are huge, so my idea is book some profit as of now.
01:54 Although we have seen the results, but there was one issue that we have seen the lower
01:58 marketing margins.
02:00 And that is somewhat concerning because in the case of rise in the crude oil prices,
02:05 that will directly impact the margins.
02:08 So but all in all, since the profits are high at present point of a time, so I think it's
02:12 better to book partial profit.
02:15 So our stance here is that book partial profit and hold the remaining counter for the price
02:20 target of 680 to 690 in the short to medium term.
02:24 Alright, understood.
02:25 Next up, we are talking about Vedanta.
02:28 Now this one is from, yeah, this is Ajay Sekaran from Dubai and they have already bought the
02:35 stock at 280 levels.
02:37 They want to know if they should continue holding on to it.
02:40 Nilesh, let's take a technical check on this one.
02:43 Vedanta, how does it look from a technical standpoint?
02:47 See Smriti, on an immediate basis, it looks like it is in a consolidation zone where the
02:54 immediate support is placed at somewhere around 260 and resistance is somewhere around 285.
02:59 So that's the range as of now.
03:01 But looking at the recent development from last couple of weeks now, the stock has started
03:06 forming a higher up and higher down formation.
03:08 So from next, you know, one to two months point of view, I feel that the stock might
03:13 move towards 300 kind of levels.
03:15 So yes, at current level, one can stay put, keeping stop loss below 258 and there could
03:20 be possibility of a pullback from the current level.
03:23 Alright, understood.
03:24 Next up, we are talking about HDFC Life and Praj Industries.
03:28 This one's from Geeta here.
03:30 They want to know if this is the right time to enter these two stocks.
03:34 And this is for the longer term.
03:35 Aastha, HDFC Life and Praj Industries, what's the view fundamentally?
03:40 How does it look?
03:41 So talking about HDFC Life, I think fundamentals are looking intact for this counter.
03:47 And what we feel that if one can enter at lower dip of around 550 or 560, then it will
03:54 be a better, you know, levels to enter in.
03:57 Although if we talk about this stock, valuations are looking quite reasonable over here.
04:03 So we are not very much concerned about the valuation and whatever performance the stock
04:08 has posted, I think there is a strong growth in their business also.
04:12 So I think all in all, it is a better stock to enter, but at the lower levels, not right
04:17 now.
04:18 550 is the suggested level at which one can enter the stock for the price target of 620
04:23 to 640 at the initial levels.
04:26 Alright, understood.
04:27 Next up, we have a question on HDFC Bank.
04:31 And this is a common question now, Aastha.
04:33 Shrino from Vijaywada has written to us and they want to know if they should enter now
04:38 HDFC Bank.
04:39 And we have seen such low levels on this particular stock.
04:43 Would you, what's the long term view on this one?
04:46 It's a big bank, strong fundamentals there.
04:49 Would you suggest buying or entering the stock right now?
04:53 I think at the lower levels, buying can be done because whatever we have seen, I think
04:58 now the gradual recovery can be seen going ahead.
05:01 We have seen a strong turmoil in the stock prices already.
05:05 So I think it's better to wait for some more fall, let the stock settle, because long term
05:11 seems to be intact, although we have seen after the result declaration, the stock was
05:15 in a one side, southward direction.
05:18 But in the long term, we can see the gradual recovery because the kind of ratios this bank
05:23 is posting still, especially if I talk about their asset quality, it is still at a very
05:27 attractive levels, their GNP and NNPA ratios as compared to the other banks in the same
05:34 industry.
05:35 So I think the recovery will be gradual, will be slower, but here the stance is enter into
05:40 the stock, but not at the present level, maybe 1350 or 1370 are the right levels to enter
05:45 into the stock for the long term point of view.
05:48 Okay, got it.
05:49 Next up, we have a question from Mayank Shah.
05:51 They're talking about Jio Finance.
05:53 They've already bought in the shares at 275 levels.
05:57 Now this is a recent listing, so I'll probably take a longer term view on this as well.
06:01 Jio Finance, we're yet to see how this kind of pans out or what the play is there.
06:06 Now Aastha, Jio Finance, what's the longer term perspective on this one?
06:11 Should you continue holding on to this?
06:13 Although whatever the results they have posted, they were not up to the market.
06:19 We have seen some sort of a disappointment in the results in the Jio Finance of their
06:24 quarter three of FY24, so I'm talking about those numbers.
06:27 So the results were not very much attractive.
06:30 So my idea is here that wait for some more time, let the stock prove its strength, and
06:36 then one can enter into the stock.
06:37 So I think rather than jumping into the stock right now, it's better to wait for some more
06:42 time to see how the financials will perform going ahead, although the quarter three was
06:47 not up to the mark, but let's see how the quarter four will be and then make an entry
06:52 into the stock.
06:53 Got it.
06:54 Next up, we're talking about Mishtan Foods.
06:56 This one's from Arpit from Meerut.
06:59 They've already bought the stock at 23 levels and I think the stock is currently trading
07:03 around the same levels.
07:05 Nilesh, what should you do?
07:07 Should you continue holding on to it?
07:10 If you look at the one-year performance of the stock, it's a multi-bagger.
07:13 Absolutely, Smriti.
07:14 It's a PSC-listed counter and looking at the performance of past one year, the counter
07:21 is constantly forming a higher-up and higher-up formation.
07:24 So undertone is looking very strong and recently when we saw a breakout, so the volume participation
07:29 was unusual and it was huge.
07:32 So looking at that kind of run-up with a huge price and volume breakout, I think this particular
07:38 counter has the potential to move towards 26 to 30 kind of levels in the short to medium-term
07:42 point of view.
07:43 So if somebody is already holding the long position, can keep a trading stop-loss below
07:47 21 and hold on to this particular long position for the upside target of 26 and position target
07:53 comes around 30 plus.
07:55 Got it.
07:56 Next up, we're talking about ICO lighting.
07:59 Is it a good time to enter the stock is the question.
08:02 This one is from Narvi from Hyderabad.
08:05 Is this a part of your coverage, Aastha, ICO lighting?
08:08 I'm sorry, we don't cover this stock.
08:11 Although it was an IPO stock way back in June, I think this company came out with the IPO,
08:16 but afterwards we didn't cover it.
08:18 So I'm sorry.
08:19 Got it.
08:20 Neelesh, now this is, I know there won't be a lot of data, but from whatever you have,
08:26 would you suggest buying into this or entering the stock?
08:29 So I have limited data, but whatever data I have is clearly indicating the counter post
08:35 listing as constantly is in a downtrend and forming a lower top and lower bottom formation.
08:40 It has never surpassed its previous lower highs.
08:44 So looking at the structure, the previous high was somewhere around 340.
08:48 There could be possibility of a pullback from current level.
08:51 So purely from a trading point of view, one can go long keeping stock below 280 since
08:55 the risk and reward is very much favorable.
08:57 So purely from trading point of view, one can go long for the further upside move to
09:02 continue towards 320 to 330.
09:05 But for quality as a major bottom or short term base formation, this stock needs to surpass
09:10 340 levels on the upside.
09:11 The major trend still is on the lower side.
09:15 So I would suggest don't take it for a longer term unless and until it takes out 340 levels.
09:20 Okay, fair point, Neelesh.
09:22 Unfortunately, we're completely out of time on this edition of Ask Profit.
09:27 Thank you so much, Neelesh and Aastha for joining in and for answering so many questions
09:30 for us.
09:31 And viewers, if we couldn't take your questions today, we'll definitely take them tomorrow
09:35 at 11.30 am.
09:37 But until then, we have lots more coming up on NETV Profit.
09:41 So stay tuned.
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