Anu Jain's top five picks for today's trade

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Anu Jain's top five picks for today's trade

Anu Jain, IIFL Private Wealth Management is bullish on Yes Bank, Power Finance Corporation (PFC) and Kotak Mahindra Bank. However, she is bearish on Noida Toll Bridge Company and Indiabulls Financial Services.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Anu Jain See what other Experts & Brokerages are saying about Yes Bank See messages about Yes Bank

Anu Jain, IIFL Private Wealth Management is bullish on Yes Bank , Power Finance Corporation (PFC) and Kotak Mahindra Bank . However, she is bearish on Noida Toll Bridge Company and Indiabulls Financial Services .

Here are the key levels to watch out for:

Buy Yes Bank on dips with stoploss at Rs 288 per share and target of Rs 310-330 per share.

All the private banks are showing traction, we have seen Axis Bank do that and Yes Bank made a new high and it's closed closer to its new highs. I think there is a lot of chance that it is going to go in the first attempt the Rs 310 levels and then probably the Rs 330 odd levels. So any dips available today should be used for buying. Otherwise, at the current market price where it opens I think its fair enough buy for not just day trading, but as a swing call for about ten days

Buy Power Finance Corporation (PFC) on dips with stoploss at Rs 313 per share and target of Rs 337 per share.

We have been bullish on this stock for quite some time, so that is the caveat, we have been buying it from Rs 280-286. So we have positions in it as an organization for all clients. But having said so, it's broken out and it is at a 52 week high at Rs 324 it closed very well, but if any dips come into this, I think its poised more towards Rs 337-340, so there is still about 5-6% trading margin left into it. So, any dips, which are there, should be used to buy into this stock for a target closer to Rs 337-340.

Sell Noida Toll Bridge Company with stoploss at Rs 32.8 per share and target of Rs 31.60-30.35 per share.

Noida closed below its 10-day moving average even on Friday, there is weakness on the chart. So at Rs 32.40 where it closed, I think I would keep a stoploss closer to Rs 32.80, which is about 1-1.5%. If it doesn't breach that then it is probably looking likely that it will test Rs 31.60 and 31.35. It sounds small, but in percentage terms they are quite large, so I would probably keep my weakness out there.

Sell Indiabulls Financial Services with stoploss at Rs 165.75 per share and target of Rs 157-154 per share.

I think there is trend tiredness, which has set in. So there could be a test of 10-day moving average. 10 DMA for Indiabulls Finance is closer to those Rs 154-153 odd levels. So a dip to that level is possible and it's a high beta stock, which moves in and out very fast. So as long as it's not breaching the Rs 165-175, if you are a short player that should be your stop loss. The target is probably intra day it could give you about Rs 157-158 and if weakness were to continue on the stock then it could give you closer to Rs 153-154. So that is trend saturation, so I would say one could play a short on it.

Buy Kotak Mahindra Bank on dips with stoploss at Rs 765 per share and target of Rs 818 per share.

Kotak is about 12% away from its 52-week high. At the same time, it has given a breakout from the channel in which it was trading, which was a very narrow channel. Having broken out of that, I would keep a stoploss somewhere around Rs 765 because this is a swing trade, it's not a day trade and then probably you can look at targets, which are closer to about Rs 820-825. So it is a couple of day's trade.

Here is a verbatim transcript of the exclusive interview with Anu Jain on CNBC-TV18. Also watch the accompanying video.

Q: Couple of pockets like real estate, Unitech , DLF , HDIL all up between 7-9% last week.

A: All of them are now into a trend, which can basically consolidate and move up, but being high beta they get hit on days like this. For example, DLF is showing some kind of overbought positions and can pullback to Rs 313-314 levels, which is roughly about 2% from where it closed on Friday and it would be only part of consolidation and before it takes the next jump beyond Rs 325. But on the charts it's definitely showing traction towards the positive side, it has been through a whole week where it has kind of sustained itself.

Today, infact would be a good test, if it cannot break beyond Rs 314, would indicate strength. If it does break beyond Rs 314 then again its going back to test the early Rs 300 kind of levels, so one would have to watch. But as of now most of them even Unitech is showing lot of strength to go towards the Rs 86 levels, so they are showing strength and one would have to see how they sustain the volatility over this week.