Nifty can slip to 5650; get expert's stock advice here

Moneycontrol.com got Hitesh Seth, head technical, Prabhudas Lilladher to answer the stock queries you sent us on our Facebook page as part of KYI (Know Your Investment). Check out his comments.

Also read: See Nifty at 6400, Sensex at 21K in 3-6 months, says Daryl Guppy

Naveen Kumar: Is this the right time to enter market?

A: No. I expect Nifty level of 5,825 to be an important resistance. It can go down to 5,650 or even lower on back of correction/profit booking. Once correction is over then it will resume upward journey towards 5,950 and 6,150.

Ashish Kela: Will State Bank of India (SBI) go higher?

A: In longer run, it will go up to Rs 2,750. But before that, a correction is possible. Ideal entry level will be Rs 2,150.

Kashish Kumar: What about Steel Authority of India (SAIL)?

A: The stock has fallen from Rs 267 to Rs 73. It has also been deleted from the list of Nifty fifty. However, it needs to cross Rs 100 levels to show the strength, in which case it can further go up to Rs 115. On downside level of Rs 75 looks good as support. 

Jai Chandran: What is your view on Larsen and Toubro ?

A: I am positive for this stock in longer run as it will prove to be the best in infra sector. However, it has given a good run up. So, wait for lower level to re-enter somewhere near Rs 1,500. It will go up to Rs 1,800 and then to Rs 2,100 in coming time.

Manigilli Srini: What about Adani Power ?

A: Buy on correction, near Rs 48. It has potential to go up to Rs 70.

Karthik Kiran Balla: Can I buy IVRCL now?

A: Buy near Rs 42, but keep a closing stop loss of Rs 38. It has potential to go up to Rs 55 and then to Rs 65.

Aditya Sethi: What is your call on Reliance Capital ?

A: It has given a good run up from Rs 225 to Rs 472. It can now correct to Rs 415 or even Rs 400 where on should buy. But a decisive break out above Rs 480 will take price to Rs 600.

Aby Thomas: What about Kingfisher Airlines ?

A: If you have high risk appetite, then buy it near Rs 10. The real strength will come only above Rs 19.

Cyrus Tamboli: What are your views on FMCG stocks?

A: It is in trending mode where corrections are sub-normal. If you want to buy for long-term then go for it. But, as of now, I expect correction to come in this sector also. BSE Healthcare Index will not go above 8,000 as of now.

Rajeev Aravindakshan: How about Amar Remedies ?

A: Avoid this stock. Select some thing else.

Neaaz Ahmed Ansari: What about Spicejet ?

A: It needs to cross Rs 39 levels decisively on closing basis. In that case, it can go up to Rs 54. The base is strong at Rs 25. Can buy lower.