Watch the interview of Manas Jaiswal of manasjaiswal.com with Reema Tendulkar & Sumaira Abidi on CNBC-TV18, in which he shared his readings and outlook on market and specific stocks.
Below is the verbatim transcript of Manas Jaiswal's interview with CNBC-TV18
Strides Arcolab
"Few days back, Strides Arcolab took support near to 100-day moving average and thereafter it started making higher-tops and higher bottoms. Today it has broken an important resistance of Rs 1,200 and this rally will continue. It can break its all-time high of Rs 1,250 soon and can come up to around Rs 1,280. So, that would be a target and stop loss should be Rs 1,179."
IDBI Bank
"Banking stocks are looking weak especially IDBI Bank because the stock is trading below 200-day moving average and is making lower-tops and lower-bottoms. Today it has broken the support of 67 on the intra-day chart. It has some support near to Rs 66, but looking at the pattern, it can break that support also and it can test its February, 2015 low of Rs 63. So, that is our target. Even at current level, one can go short with a stop loss of Rs 68.50."
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