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Good buying support in engg, tech & auto: IL&FS Investmart
Vivek Mahajan of IL&FS Investmart says that there is good buying support at lower levels, particularly in engineering, technology stocks and also in select auto stocks.
Q: In which case, what would you do with the kind of speed that we have seen in the past. Would you use that as an opportunity to come out or partially book out?
A: This stock has got resistance at around Rs 825-835 level. Any crosses above Rs 800 level, I will think of booking profit incase I have the stock.
Q: Does Praj Industries look interesting to you?
A: Praj Industries is benefiting because of the high crude oil price and good demand for ethanol plant. The company already has a big pending order from Xethanol Corporation, US. There is an expectation that some other major corporate announcement could be on the cards. The outlook is positive for the counter, the stock has a potential to inch up to Rs 185-210 band.
Q: Disclosures:
A: I do not have exposure in any of the three stocks we spoke today.
