HomeNewsBusinessMarketsHere are some stock picks from Mithil Pradhan

Here are some stock picks from Mithil Pradhan

Watch the interview of Mithil Pradhan of Violet Arc Global Managers with Ekta Batra and Anuj Singhal on CNBC-TV18, in which he shared his readings and outlook on Futures and Options (F&O) side of the market, specific stocks and sectors.

September 04, 2015 / 12:56 IST
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Watch the interview of Mithil Pradhan of Violet Arc Global Managers with Ekta Batra and Anuj Singhal on CNBC-TV18, in which he shared his readings and outlook on Futures and Options (F&O) side of the market, specific stocks and sectors.Below is the verbatim transcript of Mithil Pradhan's interview with CNBC-TV18DLF"DLF and all the real estate stocks are inherently very weak on charts. Yesterday it tried to break above the Rs 120-121 zone but I think the breakout has failed and that is the kind of reaction that you have seen. Similar thing has happened with the market. Yesterday Nifty tried to break above 7,800-7,820 zone but the breakout has again failed.""I am expecting DLF to make a new low around Rs 95 odd levels. I think this time it will easily break Rs 100. I will keep a stop loss at about Rs 124 which is somewhat higher than yesterday’s high, Rs 98 is my target," he said.Tech Mahindra"For Tech Mahindra Rs 550-560 zone is a major resistance, it has given a dead cat bounce now. So I would use this dead cat bounce to open short positions. My target is approximately around Rs 502 though this is a conservative target and I am looking at a stop loss at about Rs 549 for the day," he added.Shriram Transport Finance Corporation"Shriram Transport Finance Corporation has been very resilient to whatever is happening in the market. It has made a double bottom at around Rs 800-820 zone. The pattern was a falling wedge out of which there was a breakout yesterday. I would use this breakout to open long positions, Rs 850 around area is a great level to open long potions.""My stop loss on Shriram Transport is going to be Rs 821 and I will keep a target of about Rs 921 because that is the beginning of the falling wedge that we saw on the charts. So this could be a good stock to go long," he said.

first published: Sep 4, 2015 12:12 pm

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