Pantaloon Retail a good bet for long term: Harchekar

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Pantaloon Retail a good bet for long term: Harchekar

Pantaloon Retail is a good bet for long term, says Amit Harchekar, IIFL

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Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Amit Harchekar See what other Experts & Brokerages are saying about Pantaloon Ret See messages about Pantaloon Ret

Pantaloon Retail is a good bet for long term, says Amit Harchekar, IIFL

Harchekar told CNBC-TV18, "On the long side Pantaloon Retail at current levels has given a good breakout from a rounding bottom formation and that projects the target close to Rs 150, so Pantaloon Retail would be a good bet for a long side rather than initiating any short positions on any midcap. Bombay Dyeing is actually forming a sort of a triangle pattern, so around Rs 370-375 turns out to be a level where there would be shorts, but there is a pullback expected in the market, so I wouldn't advice short at current levels."

He further added, " Jaiprakash Associates or GVK Power , again they are stuck into the trading band. JP Associates is not crossing beyond Rs 55 and on the downside there is a good support seen at Rs 52.5. So most of these infrastructure stocks, they might move sideways, from infrastructure perspective one can look into Larsen and Toubro at current levels. It going up 3-5% up from current levels, so as per other stocks like IVRCL is concerned, they might be trading into that band of 2-3%, but I do not see a significant upside from current levels."