Vijay Kedia portfolio stock dips 27% in one month. Should you buy?
Premium- Vijay Kedia portfolio stock is near its strong support base and bounce back can be expected if there is ₹35 to ₹40 gain witnessed in the counter, say experts
Vijay Kedia portfolio: Retail investors scan marquee investors' portfolio for value picks. Investor trader Vijay Kedia is one such investor who is known for picking lesser known stocks that goes on to beat the benchmark indices in long-term. However, even Vijay Kedia is not immune to losses. One of Vijay Kedia portfolio stocks Ramco Systems has crashed around 27 per cent in the last one month. According to stock market experts, this Vijay Kedia share is near its strong support base and bounce back can be expected if there is ₹35 to ₹40 gain witnessed in the counter.
Speaking on this Vijay Kedia share price outlook; Rohit Singre, Senior Technical Analyst at LKP Securities said, "This IT stock is near to its strong support zone of ₹430 to ₹450. From here, one can expect a strong bounce back in the counter but, if it breaks this support zone then it would become further weak. So, those who are holding this counter are advised to maintain stop loss of ₹430."
Highlighting the fundamentals favouring bounce back in this Vijay Kedia portfolio stock; Avinash Gorakshkar, Head of Research at Profitmart securities said, "IT stocks are expected to continue performing well in next two to three years because IT spending of the corporate are expected to increase many-folds post-Covid-19. As Ramco Systems is an IT company, it will definitely get benefit of this rise in corporate spending in the IT sector."
Unveiling investment strategy for those who want to buy this Vijay Kedia stock; Rohit Singre of LKP Securities said, "One should buy the counter only when it bounces back and sustains above ₹500. Once it reaches above ₹500, it will enter the profitable buying zone where one can buy the counter for the target of ₹650 to ₹700."
Vijay Kedia holding in Ramco Systems
According to shareholding pattern of this Vijay Kedia portfolio stock for Q1 FY22 period, Vijay Kedia raised stake in this IT company during April to June 2021 quarter. Wealth manager and ace Indian stock market investor increased his stake in the company from around 1.60 in March 2021 quarter to near 1.80 per cent in recently ended June 2021 quarter.
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