Mar 05, 2013, 08.46 AM | Source: CNBC-TV18
In an interview to CNBC-TV18, Sudarshan Sukhani of s2analytics.com, SP Tulsian of sptulsian.com and Amit Trivedi of Fin Stream Financial Advisors give top pick for the day.
Sudarshan Sukhani of s2analytics.com
For today we have to look at stocks that are in a bear market of their own and Jindal Steel is one of them. Jindal Steel has been in a bear market for many months now and that relentless drive towards lower prices continues. Yesterday it broke down from a strong support at Rs 345 and the last support level for this is around Rs 330-333. So, the target for this immediate short-term decline could easily be the last support level of Rs 330-333 and the stock is in the bear market, we should be looking to sell it.
It is rare to find midcap opportunities on the buy side but Gitanjali Gems is one of them. So, I would suggest buying Gitanjali Gems today. The stock has been in a trading range and has now broken out of the trading range promising higher levels maybe even Rs 608 or Rs 610. The trade here is, if you see a small dip or even a minor rally, consider buying it. But it is very important to follow stop loss because eventually all stocks will be influenced by what the Nifty does.
SP Tulsian of sptulsian.com
I am recommending Voltas at Rs 82 because the stock has corrected significantly after company having posted dismal numbers for Q3 but the exceptional items having booked by the company has shown some decent bottomline having posted by the company for Q3. But I think that stock seems to have bottomed out and in fact we have been seeing it consolidating and seen under accumulation, which indicates that once the accumulation gets over the stock may give a breakout and can move pass Rs 90 in this week or so.
Amit Trivedi of Fin Stream Financial Advisors
Given the way market has corrected from 6,000 levels to around 5,700 levels, we think market should broadly consolidate in this range of around 5,650 and 5,760 levels. We have a buy and a sell recommendation for the day. Traders can buy Yes Bank at around Rs 470-472, place a stop loss at Rs 465 and play for a target of around Rs 480 in the next coming days.
We have a sell recommendation on Jaiprakash Associates . The stock has corrected more because it is a high beta stock and traders can sell JP Associates at around Rs 71-71.5 levels for a target of around Rs 67, stop loss can be placed at around Rs 74 in this stock.
Avinash Gorakshakar, Market Expert is of the view
"JSPL has secured long-term linkage of 1.18 MTPA f
Jindal Steel and Power Ltd. (JSPL) has secured lon
Corporate India's merger and acquisitions deal tal
The company reported a 11 percent growth in stainl