Nov 25, 2012, 09.29 PM IST | Source: CNBC-TV18

Media stocks may rise, positive on Titagarh Wagons: Baliga

Ambareesh Baliga, independent analyst, feels that currently the market is in a no trade zone and the market needs to keep an eye on Parliament developments. He is positive on some media stocks and Titagarh Wagons.

Ambareesh Baliga, independent analyst, feels that currently the market is in a no trade zone and the market needs to keep an eye on Parliament developments. He is positive on some media stocks and Titagarh Wagons.

Below is the edited transcript of his interview to CNBC-TV18.

Q: What is your view on Nifty movement this week - end to end it maybe a 1 percent gain but it has been an excruciatingly range bound week. Where do you see the Nifty headed? Are there signs of the Nifty cracking under pressure?

A: The movement of the Nifty has been range bound. Basically, we are in a no trade zone between 5550-5650 on the Nifty. It is senseless to trade unless it break-down or break-out of it. It is best to keep away for time being. The developments in the Parliament also need to be seen. Positions can be taken one there is break down or break out.

Q: Would you stick with the media stocks or do you think they have already run up?

A: For time being, there is movement in media stocks. Some media stocks will run up in next couple of weeks.

Q: Anything you want to add to the list?

A: I recommend Titagarh Wagons - especially with the changes in GAAR at the Centre in the presence of TMC. I think modernization would be underway and there will be private sector participation. I expect the performance of Titagarh Wagons to improve from hereon. Generally around Budget time railway stocks move, and I feel that this stock can move to Rs 400-410 from current levels, which is a decent gain.    

 

READ MORE ON  baliga, stock, nifty, sensex, parliament, economy
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