In an interview to CNBC-TV18, Sudarshan Sukhani of s2analytics.com, SP Tulsian of sptulsian.com and Amit Trivedi, Co-Founder, Investworks.in give top pick for the day.
Sudarshan Sukhani, s2analytics.comThe markets are in some kind of a minor uptrend and therefore it is possible to identify some buying opportunities which could actually give us some money. So I am looking at buying Hexaware Technologies. It has come in our buy list earlier also. The stock is now on the verge of breaking out of a head and shoulder pattern, a bullish pattern. Yesterday was an off day for Hexaware, so it actually fell, there is no harm in that because we are actually hopefully then buying at a dip rather than after a big move up. So that ensures that our risk becomes that much smaller.
With some kind of upside momentum in the Nifty, Nifty stocks should attract attention on the buy side. I would recommend going and buying DLF, it has found strong support in the Rs 225 area and it has been bouncing from that support repeatedly. It has done that this time also after a dip. So Rs 225 is a strong support, there is some sense that momentum is beginning to buildup on the long side, buy side. It has had two good days on the upside, so with support holding and the Nifty itself doing something better, real estate stocks and Nifty stocks should perform reasonably well. So buy DLF but please have modest expectations from these rallies, take profits whenever you get them, don't overstay. SP Tulsian of sptulsian.com
We have been seeing positive bias building up on the banking and non-banking financial stocks and in that space Karnataka Bank looks a good buy at this current level of Rs 132-132.50 and I expect that stock can move closer to Rs 140 in next one week. Amit Trivedi, Co-Founder, Investworks.in
We have two recommendations, one is on Reliance Communications which can be bought at around Rs 74, place a stop loss at Rs 69 and aim for a target of Rs 80.
Second recommendation is on ICICI Bank which can be bought at around Rs 1040, place a stop loss at Rs 1025 and aim for a target of Rs 1075.
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