Buy NMDC with a target of Rs 185, says Sudarshan Sukhani, s2analytics.com.
Sukhani told CNBC-TV18, " Titan is not one of my favorites. But the fact remains that in the short term it suggests that the decline has been overdone for the time being. There is a short term bounce. In high beta strong momentum stocks or concept stocks some of these bounces can be quite profitable to trade on the upside also. So Titan is a buying opportunity. It made a new 20 day high yesterday although that did not sustain but we could see a follow up today. So, there is some reason to go for Titan."
He further added, "NMDC, new 20 day highs. 20 day highs essentially tell us that there is momentum in the stock and maybe is entering an intermediate uptrend, may not be. But the theme is that if you see strength and the markets are choppy sideways with mild upside momentum, you go and buy them. So NMDC qualifies. NMDC has been one of those stocks that have been beaten and bruised almost without recognition. So relief rallies can give decent up moves. NMDC remains a buy. Keep modest targets, Rs 185 are a target that I have thought of and I don't think we should look for bigger runs here. Just get out if target nears by."
