Trading opportunities seen in Tata Chemicals and L&T , says Vineet Bhatnagar, MD, MF Global.
Bhatnagar told CNBC-TV18, "Tata Chemicals, L&T, which I heard was a bit down in the morning but L&T was looking positive. Tata Motors and one noticed that as compared to Tata Motors the Tata DVR was trading at a large discount of about 50%. So those who are not hung up on the voting rights could perhaps look at that for a trading position. Some of the names in the cement were looking alright, ACC , Grasim , Gujarat Ambuja. In the IT space Wipro and HCL Tech were looking alright. These are the names that cropped up after yesterdays trade and actually even Monday."
He further added, "ICICI Bank is not giving any negative buildup in terms of the option trading activity that we looked at for any signals. So that perhaps could just continue its long side move. However we are not looking at that to initiate fresh long positions. Reliance is quite surprisingly and in a very uncanny manner it did not actually show up any kind of long trade ideas that one was expecting to see in it. Some of the names which were not looking very positive were HCL Tech, Hexaware and Educomp."
