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.

August 19, 2015 / 15:03 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-TV18Eicher Motors"Eicher Motors has completed a short-term decline, so approximately around Rs 20,200 it completed a decline and has given higher high breakout today. Therefore, I would suggest that traders should look at building long positions here. The stock is in a very strong uptrend, so Rs 22,000 to Rs 22,500 should be coming any point of time. I would keep a stop loss of Rs 20,700 for the time being and target of Rs 22,000 in the short-term."Hindustan Petroleum Corporation"I have always been bullish on Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL). HPCL has outperformed BPCL by quite a margin; in fact HPCL has doubled in the last four months. It has completed a short-term decline.""HPCL is a simple buy on decline strategy that I am applying right now. I would keep a stop loss below the low that it saw in the past three-four days which is Rs 859and the target I am looking at is Rs 1,030 approximately. The second reason is that crude at USD 42-43 per bbl still has about 5-6 percent decline left before it reaches the historical support zone of USD 38.40 per bbl. So there is still some upside in HPCL," he said.Voltas "I have a sell call on Voltas because of sectoral reason. The BSE capital goods index has created a major double top and in most scenarios most capital goods stocks will look for a short-term decline from here. Voltas is specific because it is one of the first stocks which have created a breakdown below short-term support around Rs 310 approximately.""I would look to short Voltas. The momentum from an oscillator perspective is showing a short-term decline. So I would look at Rs 278-277 on the downside and the stop loss that I would like to keep is around Rs 308-310," he said.

first published: Aug 19, 2015 12:08 pm

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