This has been a very difficult last one, one-and-a-half month. Everybody on the street is actually expecting a big correction. But market is not obliging. How are you trading and what are your trading ideas right now?
Aditya Arora: Absolutely, sentiments are extreme. There are a few bunch of people who are very bearish on the market. And there are some investors on the other end who are taking very speculative and leverage positions. So, we are seeing both ends of the market. And personally I am looking at the charts and I am more comfortable in Nifty pharma and fmcg space because market is directionless and there are no proper trends, no proper breakouts or breakdowns. One day we see a gap up and another day we see a gap down. So, market is directionless and choppy. So, in such kind of a market, fmcg space and pharma space is doing pretty well, so I like that space. What are your thoughts on battery stocks, particularly Amara Raja after the commentary, the management was on our channel, the stock has shot up very nicely?
Aditya Arora: Correct, Amara Raja is doing pretty well. Today, clearly a shining spot in this market where very few candidates are doing well. Technically, this looks good at 1623, stop loss is 1500 and target is 1750 to 1770.
So, then in this space also Amara Raja, is that the best bet that you would be looking at in the auto ancillary side, the battery side or is there anything else also that you like there?
Aditya Arora: I think it is one of the best candidate if we look at the performance of auto ancillary stocks. Then, this stock is continuously doing well. Even today very few auto ancillary names would be doing well and this clearly stands out and also, we have seen strong volumes on days like 25th of June, 26th of June.
So, I believe institutions are pretty aggressively accumulating this counter. So, I think this is one of the best candidates in auto ancillary.What about some of the pharma names. Even pharma and chemical, look at how Sharda Cropchem shot up 7%, continues to move up, even Piramal Pharma. How are some of these names looking?
Aditya Arora: If you look at the charts of Sharda Cropchem, then we have seen good upsurge today and stock has given breakout above levels of June 2023. So, positionally and technically this stock turns positive today and for a proper run and for a proper breakout, one must wait for a breakout above levels like 610 where the momentum could emerge in this counter. So, my view is positive. In Piramal Pharma I think the stock is doing well but lacks momentum. But for a proper breakout one must wait for levels like 200. Over there I think proper breakout can emerge and it would also break above its IPO price when the stock got listed around 17th of October 2022 when the price was 195, that would be a very positive sign for this counter when stock goes above 200. From there, the targets could be like 220 to 230 and stop loss would be above 180.
