Exit IFCI, Ispat, Chambal Fert: Bhambwani

Technical Analyst, Vijay Bhambwani is of the view that one can exit IFCI, Ispat and Chambal Fert and put that money in RPL.

Bhambwani told CNBC-TV18, "Apart from RPL, I would not like to remain long in Ispat, IFCI, and Chambal. They are more like momentum stocks and a lot of speculative long positions have been built up and the decline is not yet through. RPL does have some kind of a cushion at Rs 140-145 levels that’s not something that I would feel comfortable about with IFCI or a Chambal Fertilisers or Essar. Out of the Ispat, RPL, IFCI, Chambal, one could actually get out of the remaining three and put that money in RPL."

Disclosure: Analyst has personal interest in Cairn and RPL.