Watch the interview of Vishal B Malkan of Malkansview.com with Sumaira Abidi & Reema Tendulkar on CNBC-TV18, in which he shared his readings and outlook on market and specific stocks.
Below is the verbatim transcript of Vishal B Malkan's interview with CNBC-TV18.
In Adani Enterprises, I would go for a target of around Rs 435 to 440 for a stoploss of Rs 510. It is showing some bearish patterns on daily charts and there is a resistance at Rs 510. We will have couple of down sessions in the next few trading sessions.
Tech Mahindra is my favourite stock in IT space and that is outperforming the sector as well as the market and is again trading into a new territory. There is some more room on this with a stoploss of Rs 2,770 for target of Rs 2,850 and Rs 2,880.
I would go with some of the PSU banks to go on the short side and I would choose Bank of Baroda for a stoploss of Rs 1,100 and target of around Rs 1,040 - 1,030 in the next few trading sessions. Other banks like Canara Bank and Bank of India are also looking quite weak on the charts.
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