Trading strategies on 8 stocks that buzzed last week

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Trading strategies on 8 stocks that buzzed last week

In an interview with CNBC-TV18, Technical analysts Ashwani Gujral and Sharmila Joshi of Emkay Global Financial Services, discuss various stocks, which were buzzing last week and advise how to trade them in the one ahead.

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The markets closed the week on a positive note after witnessing volatility due to the Greek crisis.  The Sensex and Nifty gained 1.3% in the week. Stocks leading the rally were Reliance Infrastructure up 8.6%, BHEL up 6.2% and Hero Honda up 5.8%. Among the losers were SAIL which tanked 6.5%, along with HUL and HCL Tech which fell close to 4%.

Among the broader indices, Nifty Junior, CNX Midcap and BSE Small-cap indices were up 1.8-4%.

In an interview with CNBC-TV18, Technical analyst Ashwani Gujral and Sharmila Joshi of Emkay Global Financial Services, discuss various stocks, which were buzzing last week and advise how to trade them in the one ahead.

Below is the verbatim transcript of experts' views on all the buzzing stocks of the week. Also watch the accompanying video.

On Bharti Airtel

Joshi believes, "There are three things that you have to watch out on for Bharti. If you get any sense that the numbers are flattish or with a slight bump up markets will receive that very well because as I said domestically analyst are factoring in a lot of worries for Bharti. Number two from a slightly longer term perspective would be how the whole Zain deal is going to work out for Bharti, so there I think you have to give it a couple of quarters to see whether they can really translate this outsourcing cheap model that they have managed to and cut cost in Africa as well as establish it and get the leverage on the APRUs."

She further added, "The near term trigger that they could see for Bharti and probably what was significant to the investor would be this whole 3G auction. Now that the process has started all eyes are going to be at what price actually they get their bid because I think Bharti would be among the companies. So our broader feel is that anything above Rs 5,000 crore should be termed as expensive."

Gujral says, "As a short term player one needs to be aware of the levels on Bharti Airtel because it is not likely to make very trending moves. First of all it is not a very good short-term trading stock because it is in a very tight range. On the downside because of 3G or something if it gets to Rs 285-290 that is a good place to get in."

He further added, "On the upside Rs 320-322 is the first kind of resistance. If it gets past that around Rs 345 is about it. I do not think the investor will lose much money beyond Rs 285-290, so maybe around those levels one could add a bit and then hold it from there that would be a best strategy."