Sudarshan Sukhani of s2analytics.com advises to sell PTC India. "This stock fell from Rs 63 to Rs 42-43 and then had a small rally to Rs 47-48. The rally seems to have completed itself and the stock is now continuing to fall again," he adds.
In an interview to CNBC-TV18, Sudarshan Sukhani of s2analytics.com, Aashish Tater of Fortunewizard.com and Amit Trivedi, Co-Founder of Investworks.in suggested top picks for the day.
Sudarshan Sukhani, s2analytics.com
Markets are in fine shape and some midcap continue to outperform. Havells India is one of them. Buy Havells, it has been in a sustained uptrend for a long time and has come in our buy list repeatedly. Now the stock after a big run-up was consolidating, the consolidation seems to be over as a new breakout on the upside is coming therefore for today consider buying it anticipating a new breakout on the upside.
One of the weaker stocks in the market is PTC India. This stock fell from Rs 63 to Rs 42-43 and then had a small rally to Rs 47-48. The rally seems to have completed itself, it was a bear market rally and the stock is now continuing to fall again. So my pick is to sell PTC today. This is in the F&O segment, so you can actually go short in it. PTC is weakening and is already in a sustained downtrend.
Aashish Tater of Fortunewizard.com
IRB Infrastructure Developers could be a big bet for today where we have a target of close to Rs 111. Fundamentally there is no problem in this particular stock, but on technical perspective there was some margin pressure and the stock corrected to that Rs 94-95 odd mark. Now the stock has again taken that upper range and has been able to cross it quite substantially, so at current levels we feel the stock is likely to go to its fundamental value, which is minimum on upside of 30 percent from current levels thus from longer term perspective also this is one stock that can be looked upon.
Plus there is interesting momentum that is going to see into the space because railway projects and other infrastructure projects are likely to see government nod and this will be very positive for companies like IRB Infrastructure. Thus combining all the factors along with technical and F&O pointers, we feel the stock could give you at least 6-7 percent return in today’s trade.
Amit Trivedi, Co-Founder of Investworks.in
Given the way markets are moving we have two recommendations on the long side. Our first recommendation is on Axis Bank, which has fallen from around Rs 1520 to around Rs 1300 level. One can buy Axis Bank at around Rs 1305 for a target of Rs 1340 and place a stop loss at Rs 1285.
Second is buy Reliance Industries. The maximum open interest for calls is at around Rs 900 side and as the stock goes above this level we think there could be some more upside left in the stock. One can buy Reliance at around Rs 900 for target of Rs 920 and place a stop loss at Rs 880.