Feb 19, 2013, 04.45 PM | Source: CNBC-TV18
Rahul Mohindar of viratechindia.com is of the view that, Pantaloon Retail has a support at around Rs 200-210 level where one can accumulare the stock.
Rahul Mohindar (more)
Director, viratechindia.com | Capital Expertise: Equity - Technical
Mohindar told CNBC-TV18, "I would like to be selective in midcap plays. We have seen stock like Pantaloon Retail, which have collapsed over the last few weeks. Here somewhere between Rs 200-210 range very big support worth accumulating. Looking at Tata Global Beverage , it is a good long- term interest. If we are looking at six-eight months from here, we think 30-40 percent should be easily achievable and Rs 140 is a big support on Tata Global. We have bounced off from those levels. So, we have seen a lot of these stocks collapse but the good thing is we have come to levels, which are fairly attractive in terms of support levels."
He further added, "Pantaloon and Tata Global look an interesting buy particularly if you have got more than six months in terms of horizon. If you look at stocks that have been beaten down to an extend that into the front liners like Ranbaxy Laboratories , almost close to 52 week low around Rs 400 mark. We have come through a very rough patch on the stock. I think there is going to be strong pullback. We are at support points where you would see little rally but the question is can we breakout into much stronger turf maybe for the midcaps yes but something like Ranbaxy you might see 6-7 percent come in."
"Look at Jet Airways , which has consolidated with all the news. I think one could buy into the stock, Rs 560 being a stop loss, Rs 650 being a potential target over a month. So, there is a lot of trading ideas within this range, which we need to work within."