Tata Motors, Swiggy, Eternal among Kush Ghodasara's picks; Infosys faces caution

Market expert Kush Ghodasara has advised a cautious approach on the benchmark Nifty50, suggesting a "sell on rise" strategy with a stop loss at 25,250.

Speaking to Business Today on Tuesday, Ghodasara highlighted selective opportunities in the auto sector, particularly Tata Motors Ltd. He noted that the stock has struggled to cross the Rs 730 level for the past four to five months. "Breaking above Rs 730, the stock will give a fresh breakout. Stop loss would be around Rs 710 and the target would be around Rs 820 for the next four to five months. Don't be aggressive in the auto sector at current levels but play safe," he said.

On Infosys Ltd, ahead of its share buyback proposal, Ghodasara maintained a bearish stance. "Not just Infy, all major IT stocks underperformed the market in the last two to three years. The ratio of buyback would be most important. Don't play for corporate actions but definitely if you are an investor and you are getting some profits on Infosys, I recommend to give back shares in the buyback. I believe the IT sector would remain in sideways to downside momentum for the next six to eight months," he remarked.

Responding to queries on Eternal Ltd and Swiggy Ltd, Ghodasara said both remain his favourites for the long term. "This sector is now becoming a necessity and is a part of our everyday life. This is going to be a multibagger sector. There would be volatility but I think Swiggy has upside of Rs 580 in the next three months with a stop loss at Rs 410. For Eternal, stop loss would be at Rs 310 and the expected target would be Rs 395," he said.

With the festive season approaching, Ghodasara expects higher sales in food delivery and quick e-commerce, supporting momentum in these stocks.