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Mar 16, 2017 04:41 PM IST | Source: CNBC-TV18

Pick Titagarh Wagons, Ambuja Cements may hit Rs 260, Britannia Rs 3450: Baliga

Acccording to Ambareesh Baliga, Independent Market Expert, one can pick Titagarh Wagons while Ambuja Cements may hit Rs 260 and Britannia Industries may test Rs 3450.

Ambareesh Baliga, Independent Market Expert told CNBC-TV18, "I have been booking profits in most of the stocks which are there in the portfolio and I am close to about 50 percent in cash. So, right now I am not really looking at picking up any of the midcaps but then if you are talking of specific stocks, we have been picking up Titagarh Wagons. From railways point of view they are also bidding for metro. So, at levels of about Rs 105-106 it makes a lot of sense. It is right now at Rs 108. I think it makes a lot of sense because we could see levels of about Rs 135-140."

"In cement, I am looking at Ambuja Cements because that is one of the few stocks which has not really moved in tandem with the rest of them. UltraTech Cement has moved. So, something like Ambuja can see levels of about Rs 250-260," he added.

"In consumption space, I am looking at Britannia Industries, where again because of rural consumption it can move to levels of about Rs 3400-3450."

"Other than that, I would prefer to hold cash at least for a while. Unless we have a decent correction, I will not really go out and start buying at this point of time."

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