The last month and a half has been very tough. Everyone on the street is really expecting a big correction. But the market is not going smoothly. How are you trading? What are your trading ideas right now?
Aditya Arora: Of course, sentiments are extreme. There are some people who are very bearish on the market. And on the other side, there are investors who are very speculative and leveraged. So we are looking at both sides of the market. And personally, I am more comfortable with Nifty Pharma and FMCG sectors when I look at the charts because the market is directionless, there is no proper trend, there is no proper breakout or breakout. One day you see a gap up, another day you see a gap down. So the market is directionless and fluctuates. So in that kind of market, FMCG sector and pharma sector are doing quite well, so I like those sectors. What are your thoughts on battery stocks? Especially after Amara Raja’s commentary, the management was on our channel and the stock went up very significantly.
Aditya Arora: Yes, Amara Raja is doing pretty well. Today, it is a bright spot in this market where only a few candidates are doing well. Technically, it looks good at 1623, stop loss is 1500, target is 1750-1770.
So, Mr. Amara Raja, what are the most promising areas for you in the automotive auxiliary and battery sectors? Or is there another area that interests you?
Aditya Arora: If you look at the performance of the auto ancillary stocks, I think it’s one of the best candidates. So this stock has been doing well consistently. There are very few auto ancillary stocks that are doing well today, and this is definitely noticeable, and there was also a lot of volume on days like June 25th and June 26th.
So I think the institutions are accumulating this counter pretty aggressively, so I think this is one of the best candidates in the auto ancillary space.What about some pharmaceutical companies? Pharmaceutical companies and chemical companies, look at Sharda Cropchem, which is up 7%. It’s still going up, and Piramal Pharma. How do some of these companies look?
Aditya Arora: If you look at the chart of Sharda Cropchem, today it has shown a good uptrend and the stock has broken the June 2023 level. So positionally and technically, the stock has turned positive today and for a proper uptrend and a proper breakout, we need to wait for a breakout of a level like 610 where momentum can show up in this counter. So I am positive. I think the stock is going well in Piramal Pharma but lacks momentum. But for a proper breakout, we need to wait for a level like 200. I think there could be a proper breakout there and the stock could break the IPO price when it was listed around October 17, 2022 when it was 195. If the stock breaks 200, it will be a very positive signal for this counter. From there, the target can be 220-230 and the stop loss can be above 180.
