Analysts suggest buying VIP Industries, Tech Mahindra and GAIL India.
Veteran analysts are of the view that VIP Industries is a buy with a stop loss of Rs 350 and target of Rs 375.
One of the best ways to buy something is when it crosses at least one previous days’ worth of high. Hence, in this way you will get to know that probably the correction has ended. You can say that it is the right stock to have on your list of buying as it is in a very strong up trend and whenever buying comes back, it will come back fairly strongly since the rally was not just in the last few days, it moved up from Rs 700 to Rs 2,300.
Therefore, even if it comes down to this Rs 1,700 type of zone, that is not much of a correction. You would probably start buying maybe half your quantity now and the other half the day a previous day’s high gets crossed.
One can buy Tech Mahindra by keeping a stop loss of Rs 488 and target of Rs 510. One can also buy GAIL India by maintaining a stop loss of Rs 472 and target of Rs 490.