Oct 05, 2006, 02.17 PM IST | Source: CNBC-TV18

Experts give their Buy and Sell list for the day

The markets have gathered strength today after witnessing selling pressure for the past two days. Deven Choksey of KR Choksey Securities and Rajat Bose of rajatkbose.com give their views on what can be bought and what can be sold today.

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The markets have gathered strength today after witnessing selling pressure for the past two days. Deven Choksey of KR Choksey Securities and Rajat Bose of rajatkbose.com give their views on what can be bought and what can be sold today.

Excerpts from CNBC-TV18's exclusive interview with Deven Choksey and Rajat Bose:

Deven Choksey of KR Choksey Securities

Sulzer India - Negative

There are two approaches; this stock will be a little less active hereafter, once the majority of the acquisition activity takes place. So either one should sell it out in the first place, or one can wait for a second round, wherein the market fetches a better price and sells it out. It all depends on the investors priority at this point of time. If you ask me, I would put my money wherever there exists clarity. Here, there is some amount of clarity, which is emerging at this point of time in the form of surrendering these particular shares. Probably, I would invest that money somewhere else.

Atlanta - Positive

The company, on business merits, is quite promising from a long-term point of view. I have my own doubts whether the price of Rs 210 justifies an entry at this point of time, in the shorter term. From a business point of view, if one looks at it, we like this particular sector and this company as well.

Universal Cables - Positive

Universal Cables is entering into one of the niche cable segment, the extra high voltage segment. For the first time, somebody in the country is putting up this kind of a capacity. It will have a huge market as we see electricity plans getting implemented.

This company is in a very unique position at this point in time to capture the benefit; a) among the leaders and b) from a valuation point of view, it is close to around less than P/E of 10x, at which it is available with a growth, which will be more than 25-30% in books, even in the current year. Thereafter, the order book in the next year suggests that this company would have that run up.

Rajat Bose of rajatkbose.com

TCS , Satyam , Infosys - Positive

If TCS falls below Rs 986 and then Rs 978, only then expect further weakness, otherwise it can easily bounce back.

If Satyam doesnt stay below Rs 800 levels, then you will see Satyam also bouncing back.

Infosys is not as weak as the other two, so expect a bounce back. The prices are indicating that atleast immediately we will not see a major fall.

Sugar- Negative

I would say that I have noticed one strange phenomenon in the recent past, whenever the market tends to show some weakness, sugar stocks tend to outperform the market.

But I would say that I am still not convinced by the kind of rally that we are noticing in sugar, I would rather not stay with them and if at all anyone is stuck, if the rally happens then atleast get out and wait for better opportunities elsewhere. Sugar as of now is definitely not one sector that I would be looking at for buying opportunities.

Rama Newsprint - Skeptical

If you have to talk about Rama Newsprint, its actually a vertical run and in this kind of a vertical run you hardly get to do any kind of technicals and all that, so we need to see how long the momentum continues and where it goes. 

Mirc Electronics - Positive

Mirc Electronics is showing considerable momentum. Now we need to look at the level of Rs 29.45, that is the high reached in August 2005, that is the final resistance that I can see on the chart and if it goes beyond that then you might see it going up to about Rs 32 odd levels. So lets look at Rs 29.45 for the moment and it has positive momentum, so the strength may continue.

Nagarjuna , IVRCL , Era Constructions - Positive

These stocks are again looking quite positive; they are showing some strength. They have the potential to move up further, provided the market sentiment doesnt turn out to be too bad. Expect some more upsides in them.

HDFC Bank - Skeptical

HDFC Bank, if you look at the end of the chart it was looking weak but the kind of movement that it is showing is very encouraging, maybe it will again retest the high that was posted a few trading sessions back because it has almost completely reversed the earlier fall. So I would be looking at further upswings here, maybe if Rs 924 is crossed then you will see it going upto about Rs 935.

Buy Sell
Nagarjuna HDFC Bank
IVRCL , Rama Newsprint
Era Constructions Sulzer India
Mirc Electronics
TCS ,
Satyam
Infosys
Universal Cables
Atlanta

 

 

 

 

 

 

 

Disclosures:

Deven Choksey

Some of these companies, which we have discussed, my clients maybe holding position in them.

Rajat Bose

I would be having some interest in all of the stocks that I have spoken of.

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IVRCL Mirc Electronic Shree Rama News
Sulzer Mahindra Satyam Universal Cable
NCC HDFC Bank Infosys
Era Infra Eng TCS Atlanta

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