Mar 07, 2013, 08.37 AM | Source: CNBC-TV18
In an interview to CNBC-TV18, Sudarshan Sukhani of s2analytics.com, SP Tulsian of sptulsian.com and Amit Gupta of ICICI Direct give top pick for the day.
Sudarshan Sukhani of s2analytics.com
Indraprastha Gas is a stock that we can consider for buying today. It was in a trading range and it seems that it is now ready to breakout above Rs 268-270 area above which it will enter a strong upmove. I think that breakout is imminent. So, consider buying IGL today even if it is inside the range, we can wait patiently and expect a breakout to emerge finally on the upside.
In an uptrending market even if it is a short-term uptrend like this one is, most of the trade should be done on the long side but here is a trade that can be considered on the short side if there is weakness and that is Bata. Bata India was in a downtrend, we saw a very mild rally and that rally is now heading into strong resistance and the stock actually weakened yesterday. So, it is possible that the stock may continue its weakening even as the Nifty goes up. So, the slightest sign of weakness in Bata and consider going short in it.
SP Tulsian of sptulsian.com
Bombay Dyeing and Manufacturing Company looks a good stock at a price of close to Rs 100 because the run up, which we have seen in the realty stocks, more specially in the stocks, which are from the Mumbai, Bangalore and National Capital Region (NCR) region probably Bombay Dyeing still looks quite low because they have a strong land holding in Mumbai at two locations; one is at Worli and other at Naigaon near Wadala and both the land parcels are quite huge, expected to give construction area of 4 million square feet at each place and considering the marketcap of close to about Rs 2,000 crore with promoter stake of 52 percent and the institutional holding close to about 28 percent, the stock can move to about Rs 120 in next one month or so and hence a buy call has been given on the stock.
Amit Gupta of ICICI Direct
One can go long in Punjab National Bank (PNB). The stock is coming up from the 200 day moving average, which was around Rs 795 and around 10 percent of short open interest has been added in the recent period in the March series. So, we expect if the market hovers around 5,800 there maybe some kind of short covering that can be seen in the stock towards Rs 825. So, in that scenario one can keep a stop loss around Rs 785 in the stock.
Ashwani Gujral of ashwanigujral.com is of the view
Indraprastha Gas (IGL) shares gained 3 percent int
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