8 stks that were buzzing last week & how to trade them now

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Wire and Wireless

Mohindar told CNBC-TV18, "For Wire and Wireless short term we could move to levels like Rs 21-22 but again that is very big resistance; I would use this big percentage jump to kind of move out. I would recommend a sell especially considering the fact that one has got a shorter term perspective but even on a longer term frame to be very honest I don't see a breakout in the immediate term. So my sense is that yes this is a wise decision to move out around Rs 21-22 because that's best lets say we go past it and I don't think we are going behind 25 in the next few months."

Maytas Infra

Mohindar told CNBC-TV18, "For Maytas Infra Rs 160 is a pretty good stop loss. In the best case scenario, shorter term it may go to Rs 193. The stock is very volatile and it could circuit up and down in no time, fairly unpredictable but again I would like to look at this stock only from that shorter term angle and hence Rs 193 target and Rs 160 stoploss is the way I would like to go."

Dhawan told CNBC-TV18, "Maytas Infra is a very volatile stock 5% up or down without any problems our target was 140 when the stock was at 110 and it has crossed that. The good news seems to be that the debt restructuring by IL&FS continues, it has had recently a large Rs 800 crore order for some project. So the positive news is there, the company is restructuring and the orderbook is increasing but this is for the higher risk only and if you are looking for valuations a lot of good news has already been factored in for this stock. This has been a turnaround story from the recent lows but for me it now becomes more of a trading call rather than an investors call, so if you are holding for a shorter term then you need a stoploss of maybe Rs 160, stocks like this end to move and run away very fast and if short sellers also get trapped."

RIL

Mohindar told CNBC-TV18, "On the shorter term I don't think Reliance Industries is going to be a star as such but in the mean time I think yes hold on to the stock with a stop loss of Rs 2060. Rs 2,200 and Rs 2,220 that is the belt one would expect in the shorter term but yes the crux of the matter is that try and get this on the dips and try and enter it as it declines because overall the index looks good and I certainly think Reliance needs to play a role if that really has to do better."

Dhawan told CNBC-TV18, "Reliance Industries for a lot of investors for the last one year has been a disappointment there has always been pressure on their refining margins, the results have not been that excellent and that was expected at some large extent, the negative news is the RNRL case which keeps dragging on. So the stock is likely to be a market performer, the company has already announced a bonus which everyone knows about that is the feel good factor, there is a divided on the company as well which is going to be paid out. So overall, probably a hold, this stock is a heavyweight a good sentiment booster for the markets but I don't see this being an outperformer in the shorter term unless there is some clarity on the court case issue and the bad news stops, it's a great disappointment that the stock is not performing well but over the longer period of time it has rewarded investors so buy on any sharp declines and if you are holding at the current levels just stick with it."

Shree Renuka Sugars

Dhawan told CNBC-TV18, "The problem with sugar sector is that the government controls the interventions from time to time and that does hamper the growth and profitability of the company but on the positive the company is benefitted a lot on the higher sugar prices. Shree Renuka Sugars has the largest refining capacity in India, its obviously one of the top picks in this sector, there is going to still be a sugar shortage next year, so that is going to lead to higher prices and that would obviously lead to higher margins for the company. So I would remain invested and if there is a correction then I think you can buy in declines, the only caveat for this sector is again a highly volatile, this is a sector where a lot of newsflow comes, lots of rumors and lots of market buzz, you have to be careful and you have to realize that the stock does move 5-10-20% in a matter of days, so hold on to the stock for the medium term.".

Mercator Lines

Mohindar told CNBC-TV18, " Taking a slightly bigger perspective Rs 44 has come in as a very good support for this stock, it held that level and moved up from the right price and I still think there is some good headroom, short term maybe we can head to levels like Rs 67; I would advice the investor to certainly hold on, Rs 51 is the stop loss and I think the momentum is fairly likely to continue especially keeping in mind the backdrop that it kind of moved from that longer term support.