Watch the interview of Nooresh Mirani, CEO, Analyse India with Sumaira Abidi & Nigel D'Souza on CNBC-TV18, in which he shared his readings and outlook on specific stocks and sectors.
Below is the verbatim transcript of Nooresh Mirani's interview with CNBC-TV18.
South Indian Bank has consolidated for almost a couple of months around Rs 27-28 and today it has given a triangle breakout around Rs 28.50 which gives a target price of Rs 34-35 which is the previous stoploss. The stock has not performed in the banking space and finally we are seeing good volume as well as breakout. So this is a good short to medium-term bet.
NESCO is an interesting company, after making a move above Rs 1,000 which was a multi-year resistance, the stock consolidated around Rs 1,300, somewhere closer to Rs 1,350 was the breakout point and the stock has crossed into all time highs. Therefore, the best way to look into a momentum trade or even an investment in a good bull market is to buy when the stock makes new all time high.
The stock has given channel breakout or a flag breakout above Rs 1,350. We are looking towards a target price of Rs 1800 over the nextfew months. One can buy the stock at current level as well as on dips and a stoploss would be placed closer to Rs 1,300.
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