Coforge, Vedanta, Sugar Stocks: Expert Strategies & Targets

Market experts Jatin Gedia of Teji Mandi and Astha Jain of Hem Securities Ltd. recently shared strategic insights on key stocks, including Coforge, Zaggle Prepaid, Vedanta, Balrampur Chini, and Azad Engineering. Their analysis on the ‘Ask Profit’ show covered fundamental drivers and technical levels for investor consideration.

Coforge Outlook & Levels

Jatin Gedia recommended a ‘Hold’ position for Coforge Ltd., citing a positive outlook for the IT sector. He noted the stock’s recent breakout above a two-week consolidation period.

• Current Market Price (CMP): Rs 1,879.00
• Upside Target: Rs 1,980
• Support Level: Rs 1,770

Zaggle Prepaid and Vedanta on Hold

Astha Jain issued a ‘Hold’ recommendation for Zaggle Prepaid Ocean Services Ltd., expressing a positive long-term view over five years. She highlighted ace investor Vijay Kedia’s entry as a significant positive factor.

• Current Market Price (CMP): Rs 198.52
• Immediate Target: Rs 220-230

Vedanta Ltd. also received a ‘Hold’ from Astha Jain, driven by positive long-term prospects within the metal sector. The company’s consistent dividend payouts were also a key consideration.

• Current Market Price (CMP): Rs 268.15
• Recommendation: Hold for long term, average down (not at current price)

Sugar and Engineering Sector Picks

For Balrampur Chini Mills Ltd., Astha Jain advised a ‘Buy on dips’, noting a strong stock jump. This move was attributed to rising domestic sugar prices impacting all sugar stocks.

• Current Market Price (CMP): Rs 778.00
• Positive Factors: Strong distillery capacity, ethanol production
• Potential Entry Point: Rs 700

Jatin Gedia recommended a ‘Buy’ for Azad Engineering Ltd., indicating the stock is currently in an uptrend. He suggested any pullbacks offered buying opportunities.

• Current Market Price (CMP): Rs 2,771.00
• Immediate Resistance: Rs 3,000
• Crucial Support: Rs 2,680

These expert recommendations underscore the varied approaches to navigating current market conditions, with specific entry and exit points highlighted across different sectors.