Buy Or Sell: Stock Ideas For Oct 1, 2021

Indian markets opened flat and was range-bound in the initial half but gave in to profit booking in the latter half to finally end in red. Sectorally, it was a mixed bag, with buying seen in the realty, pharma, power, consumer durables, and PSU banking stocks, while selling was seen in the auto, bank, IT, metal. Broader market continued to outperform benchmark indices.

Here are a few stock ideas to buy and sell from experts for trade on Oct 1, 2021:

1) Dr. Ravi Singh, Head of Research & Vice President, ShareIndia
Federal Bank: Buy the stock at Rs 84.50, Target Rs 90, Stop Loss st Rs 82
Apollo Tyres: Buy at Rs 226, Target Rs 232, Stop Loss Rs 223

2) Manoj Dalmia, Founder and Director, Proficient equities Private Limited
Canara Bank: Buy at Rs 170, Target Rs 177, Stop Loss Rs 166.50

3) Sandeep Matta, Founder TradeIT Investment Advisor
Welspun Enterprises: Buy at Rs 107, Target Rs 120- 132, Stop Loss Rs 95
EI Hotel: Buy at Rs 128, Sell the stock at Rs 145, Stop Loss Rs 115

4) Ravi Singhal, Vice chairman, GCL securities Limited
Sun Pharma: Buy the stock at Rs 820, Sell the stock at Rs 844, Stop Loss at Rs 799

Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd, markets are likely to continue with its consolidation given the sharp run-up in the past few weeks and weak global cues.

"Though the US funding has been extended temporarily, worries over federal government paralysis and the withdrawal of monetary support persist. Moreover as the energy crisis continues, the oil and gas prices along with power prices continues to remain elevated. China's slowing economic growth along with debt woes continues to be a matter of concern. However, the domestic cues remain positive as the Covid cases continues its decline further (daily cases falling to below 20k) resulting in more relaxation of economic activities with Key state Maharashtra opening up from October. Investors would react to the auto monthly sales numbers which would start kicking in from tomorrow.

Rotation from outperforming sectors to under-valued stocks continue as the valuations continue to be at stratospheric levels. Small traders should trade cautiously as markets could be volatile amidst weak global cues. Investors can tap this opportunity to adopt buy on dip strategy as the long term fundamentals remain intact," he said.