Mahindra Satyam a good long term bet, says Sharma

Sharma told CNBC-TV18, "Mahindra Satyam is a very interesting share If it closes above Rs 88 where its 200 week moving average is then that would be turned very bullish and be a clear indicator of the share having bottomed out. It was a nearly four years back that the share had plunged below that level and now after four years it has managed to come above its 200 week moving average. So I think that is again a good signal for long-term buying."

He further added, "Among sugar stocks, Balrampur Chini Mills has given a breakout. So one can go long on it with the stop loss of Rs 58 and a target of Rs 66. Similarly, even Bajaj Hindusthan , one can go long with the stop loss of Rs 31 and the target of around Rs 38. So there are number of options in the midcap space. So I think one can expect even an outperformance from the midcap index in coming months."