Sesa Goa can move to Rs 282: Anu Jain

Sesa Goa can move to Rs 282, says Anu Jain, India Infoline.

Jain told CNBC-TV18, "Sesa has made bottom of about Rs 256 earlier also, this time also it recovered from that Rs 256 closer to Rs 280 levels then went back to those levels. So it has kind of formed a double bottom and it is moving on. So I would say as long as it can hold on to those levels, which are closer to Rs 268 then the stock would stay in a positive bias and I think the first place, the first resistance is closer to Rs 282 kind of a level on the cash side. So if it manages to hold Rs 282 then you can see more momentum build up otherwise there is resistance there. It is an oversold stock, can pull up to Rs 282 and if it manages to hold that then one can look at essentially closer to about Rs 299 levels."

She further added, "On the other hand, Bharti Airtel has essentially probably been in a range for a very long time, so it is between that Rs 320-340 zone, it is a little bit up, a little bit down for a very long time. It has crossed over some of the moving averages, so the bias is definitely positive and as we saw Tata Communications also in the same zone has done that but it has done about 1.25%, I would say probably nothing major should be expected because again it has closed at Rs 330. At Rs 336 there is resistance. So it is about 2%. I would buy this only if it crosses Rs 336 level with a stop loss at about Rs 329 if it manages to cross that, otherwise it will stay rangebound."