Watch the interview of Sahil Kapoor of Edelweiss Financial Services with Reema Tendulkar & Mangalam Maloo on CNBC-TV18, in which he shared his readings and outlook on market and specific stocks.
Below is the verbatim transcript of Sahil Kapoor's interview with CNBC-TV18
Bharat Electronics
"If you pull up a one year chart Bharat Electronics Limited (BEL) has been an excellent performer. In the last three to four months it formed a triangle pattern and triangles typically are trend continuation pattern. So, the kind of pattern that we have right now will give us an upside of minimum 7-10 percent."
"From current level, there is a breakout happening in today's trade. So, I would expect traders who are trading for the short term should enter this breakout today. Target should be closer to Rs 3750 and the stop loss should be below Rs 3,360," he said.
Hero Motocorp
"Hero Motocorp's results were quite bad. So, a cyclical low in Hero Moto is already in place and also if you were to draw a 12 year or 20 year trend line on the stock, it touched the trend line and formed a bullish engulfing last month. It had one month consolidation also and now on daily charts it is forming an inverted head and shoulders and neckline is placed at Rs 2,825. It can have more upside from current level. So possibly an entry here with a stop loss below Rs 2,490 and you could see Rs 2,860 in the short term."
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