Dec 28, 2012, 06.52 PM IST | Source: CNBC-TV18

Buy Pantaloon Retail; may rally 30-40%: Mohindar

Pantaloon Retail is looking good in midcap space. One can buy the stock as it is expected to move up 30-40 percent, says Rahul Mohindar, Director, viratechindia.com.

Pantaloon Retail is looking good in midcap space. One can buy the stock as it is expected to move up 30-40 percent, says Rahul Mohindar, Director, viratechindia.com.

Mohindar told CNBC-TV18, "Pantaloon Retail is one of the stocks which seems to have consolidated very well amongst the midcaps. If we look at the last six months we have had that phase where the stock oscillated between Rs 120-210 and now we are at Rs 250. We have broken out of that range so well, got a lot of volume into that move. I think we are looking at a strong run-up on the stock. So, given six to eight months from now you might see the stock move up a good 30-40 percent so that is a good buy at these levels."

He further added, "Other than Pantaloon I think the next stock I would like to look at is the banking lot. Here we have a lot of choice but I think Karnataka Bank is a stock which can again deliver. It has already done very well but if we are looking for the next two or three months that is a good short-term move which could come in the stock there."

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