Apr 22, 2016 02:45 PM IST | Source: CNBC-TV18

Buy Maruti, HDFC, Biocon: Manish Hathiramani

Manish Hathiramani of Deen Dayal Investments is of the view that one can buy Maruti Suzuki, HDFC and Biocon.

Manish Hathiramani of Deen Dayal Investments told CNBC-TV18, "State Bank of India is still getting ready to move out. Once it can go past levels of Rs 200, we should see proper upside. ICICI Bank is a little lack lustre today at about Rs 252, but we should be seeing levels of about Rs 270 coming on that as well."

"We have seen a lot of volume accumulation over the last two or three trading sessions, but they are still not being able to break out of that Rs 200 resistance zone. I am still waiting for it to go past that and then we could actually see levels of about Rs 220-225," he said.

"The first buy call is on Maruti Suzuki for a target of Rs 3,850 and a stop loss of Rs 3,650. The stock is at a very interesting point. This was the resistance which was Rs 3,740. The stock is trading above that. Above these levels, even investors can take positions with targets of about Rs 4,000."

"The second buy is on HDFC for a target of Rs 1,220, stop loss of Rs 1,100. The level of Rs 1,120-1,130 were resistance zones to look out for. The stock is trading above that on the back of reasonably good volumes."

"My last buy would be on Biocon for a target of Rs 605, stop loss of Rs 520. The stock has triggered the highs of Rs 544 which was made on January 5 this year. It is in a strong uptrend and dips can always be used to enter."
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