Moneycontrol
Oct 23, 2015 02:49 PM IST | Source: CNBC-TV18

Buy Bajaj Auto, Wockhardt, Syndicate Bank: Hathiramani

Manish Hathiramani of Deen Dayal Investments recommends buying Bajaj Auto, Bosch, Wockhardt, Syndicate Bank and Strides Arcolab.

Manish Hathiramani of Deen Dayal Investments told CNBC-TV18, "One can buy Bajaj Auto for a target of Rs 2,650 and stop loss of Rs 2,400. After spending some time in consolidation, the stock has actually broken out of this range with very good volumes."

"One can also buy Bosch for a target of 22,400 and stop loss of Rs 21,050. The level of Rs 21,850 was a resistance point for this stock and it has managed to start trading above that. This could also be a significant breakout for the stock on the upside," he said.

"One may buy Wockhardt for a target of Rs 1,640 and stop loss of Rs 1,530. A good breakout has happened above the resistance levels of Rs 1,450 which makes the stock a good buy."

"The penultimate buy is on Syndicate Bank for a target of Rs 105 and stop loss of Rs 91. This is among the better looking banks on the midcap space having crossed the resistance of Rs 92. The stock now looks very good from a buying perspective. We could also look at it from an investment perspective," he added.

"One can buy Strides Arcolab where Rs 1,150-1,250 was a good support structure and there are very good volumes. We are now trading above this block which is making it a lucrative trade for a stop loss of Rs 1,275 and a target of Rs 1,430."
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