Feb 07, 2013, 10.24 AM IST
In an interview to CNBC-TV18, SP Tulsian of sptulsian.com, Sudarshan Sukhani of s2analytics.com and Amit Gupta give top pick for the day.
SP Tulsian of sptulsian.com
Solar Industries India is the largest manufacturers of explosives and having 16 manufacturing locations in India and two in Africa that is in Zambia and Nigeria looks to be a good buy because if you see the financial performance having posted by the company for Q3 has been very robust. The company has been gradually improving their performance every quarter and FY13 is likely to have a top line of close to about Rs 1100 crore with EPS of close to about Rs 65. The stock at Rs 1060 can be bought as an investment stock or if those who wants to buy it for a shorter term can look for about 8-10 percent return in next couple of months.
I am looking to buy Dish TV today. It has been a favourite and then the stock went into some kind of a sharp correction. It is possible that the correction may now be over with a support level around Rs 70. With Rs 70 as support Dish TV is now inching upward. Yesterday it just touched a resistance level and if it crosses that resistance today then we should be looking at a decent Rs 3-4 gain here which is almost 5 percent.
Union Bank of India is a short sell. The stock has been tumbling, it has fallen a lot but there is always scope for more because for the last seven days it was in a trading range and now it is breaking down from that range. So Union Bank should be considered for a selling opportunity today. Short sells are not easy to do. If the market opens higher then we have to wait patiently for the stock to actually start weakening and then go and sell it.
Federal Bank has been consolidating around Rs 500-505 levels in the last two-three weeks and the market has given up during this period. The open interest level has also reduced from almost 15 percent now. This is more short covering in the stock. One can utilize the declines towards Rs 505 or Rs 500 to buy for target of Rs 530 and one can keep a stop loss below Rs 490 levels.
Apollo Tyres has given up yesterday after the results. I think this is mere profit booking because it had moved up from Rs 82 to Rs 86-87 levels. In yesterday’s session it has given up. As far as the results I don’t think any major negative in the results. If you look at the derivatives data the open interest in the last one-two months has been continuously reducing in the stock that shows the shorts are slowly exiting. So declines like these as of yesterday can be utilized to go long, Rs 83.5 to 84 we have kept this range to go long in the stock. One can look for a target of Rs 90 and keep a stop loss around Rs 80.50.
Tags: SP Tulsian of sptulsian.com , Sudarshan Sukhani of s2analytics.com, Amit Gupta, Solar Industries India, Dish TV, Union Bank of India, Federal Bank, Apollo Tyres
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