Stocks to watch: Syndicate Bank, Triveni Engg

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Stocks to watch: Syndicate Bank, Triveni Engg

The markets have pulled back from the early lows but are still flat. Realty, power, IT and capital goods stocks are under pressure, but the banks, durables and metals are in green. Expert comments on stocks to watch...

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by Rajat Bose See what other Experts & Brokerages are saying about Bongaigaon Ref See messages about Bongaigaon Ref Bongaigaon Ref BSE | NSE 01/01/70 Are Mutual Funds betting on Bongaigaon Ref? Other Stocks in this news Chennai Petroleum Corporation | Syndicate Bank | Triveni Engineering and Industries | Vijaya Bank |

Markets remained range bound for most of the session. But with profit booking setting in late trade, the indices slipped deep into the red. Nifty closed at 5,781, down 127 points, while the Sensex shut shop at 19,281, down 353 points. 

Technical Analyst Rajat Bose of rajatkbose.com is positive on Syndicate Bank and Triveni Engineering.

Here's how Rajat Bose views the stocks on board:

On Triveni Engineering , Syndicate Bank and Vijaya Bank :

Syndicate Bank and Triveni Engineering has been rising for quite some time. The kind of falls seen today definitely signals short-term reversals. But whether this short-term reversal continues and it surrenders all the gains that it has recorded in the recent past, needs to be seen.

It was rather too easy to buy some midcap stock that is showing momentum and is moving up. Perhaps some weak hands have been and are bailing out of those stocks and after some fall they will consolidate.

On Bongaigaon and Chennai Petro :

Some stocks, which have actually moved up vertically are Bongaigaon and Chennai Petro. The cut could be a bit more severe, because the run has been pretty much vertical. So, possibly they might fall even further.   

Disclosure:

It is safe to assume that my clients and I may have an investment interest in the stocks/ sectors that have been spoken about.