Stocks to watch: TISCO, BHEL

Excerpts from Closing Bell on CNBC-TV18 Watch the full show » Nifty BSE | NSE 29/05/12 Are Mutual Funds betting on Nifty? Other Stocks in this news Bharat Heavy Electricals | IDBI Bank | IFCI | KPIT Cummins Infosystems | MphasiS | Sesa Goa | Tata Steel | United Spirits | Visualsoft (I) |

Markets made good pull back and closed in green after two consecutive weak trading days this week. The BSE metals index has outperformed the other sectoral indices; it was up nearly 4%.

Among the stocks to watch, technical analyst Rahul Mohindar likes TISCO, United Spirits and BHEL.

This is how technical analyst, Rahul Mohindar views different stocks across the board:

In the metal space:

I think that TISCO would definitely be our favourite pick at these levels. I think one would be looking at about Rs 530 in terms of a price target with a short-term objective of about three months. This has shown an impressive breakout.

Another one, which catches the eye in the metal space, would be Sesa Goa . It had kind of a rush but I think on a pullback, one could actually get into the stock. One would be looking at another 15-20% upside on the stock from here.

Among the mid-caps in the technology space:

Actively we do track KPIT Cummins and I think the stock is definitely in handsome shape. There is no reason why one would not recommend holding on to it. Again, it is not a stock where we would recommend entering at these levels. An entry would possibly be justified more amongst the front running mid-caps like Mphasis .

In fact, for that matter, amongst the smaller lot, there is VisualSoft . I think these are two counters, which we can still attempt an entry into. In terms of levels, Mphasis has very good support at Rs 270. We have been advising a target of about Rs 330 on the short to medium term. So I think these two counters are clear buys on the mid-cap techs.

IDBI:

One could add on to the positions in IDBI . I think we would possibly look at another Rs 10-12 upside from here.

IFCI:

IFCI still seems to be a risky bet although I think Rs 28-29 are fairly likely, but again I wouldn't really get in at these levels considering the kind of volatility the stock has displayed over the last month.

United Spirits:

We like United Spirits for the longer term outlook. I think it would be safe to say that one could be looking at about a 30% upside from here with a time span of just six months. So we are very impressed with the formations on that stock.

Bank of Baroda:

We have not identified any breakouts on Bank of Baroda but have to look at those that come in after today's movement. But as of now, I think banking seems to be at a stage where it is kind of plateauing out but that is the broader call.

BHEL:

BHEL has made an interesting move. I think I would call it an outperformer in this space, with a 2,650 short to medium term target on that.

Any Disclosures?

It could be taken that whatever stocks I have recommended, I would have talked about them earlier or recommended to our clients.