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Last Updated : Aug 02, 2012 11:44 AM IST | Source: CNBC-TV18

Buy DCW, Speciality Restaurants, JK Cement: Pankaj Jain

In CNBC-TV18's popular show Bull's Eye, Pankaj Jain, Sunteck Wealthmax shares trading strategy of the day.

 
 
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In CNBC-TV18's popular show Bull's Eye, Pankaj Jain, Sunteck Wealthmax shares trading strategy of the day.


My first call is a long call on DCW. It is an Rs 325 crore marketcap company. It is a Mumbai based company. They are basically into manufacturing of soda ash and some specialty chemicals. What we have seen in last two quarters that few of its products specially chemicals, the prices of those chemicals in international markets has gone up many fold and that can be seen in the better performance in the bottomline of the company, bottomline of the balance sheet. I think that this fundamental change is here for good and we could see much better results from this company in coming quarters.


My second call is a long call on Speciality Restaurants. This is one of the few recent IPOs, which have done well in last three-four months having listed at around Rs 160-165. The stock went up to about Rs 220-225 levels and from there we have seen some bit of profit booking creeping into the stock. Today we have seen that renewed action could be seen in the stock. Stocks have been moved from levels closer to Rs 180 and we believe there are not many good listed identities in this restaurant space business with decent management and the companies which are doing well.


My third call is a long call on JK Cement. Again a midcap cement company, we have been seeing that many midcap cement companies have been doing very well on stock market and JK Cement, the kind of technical behaviour we have seen in this stock in last two months, the stock price has been floating well above critical DMA for last about 45 days or two months. Recently, post dividend stock went through small bit of correction and today we had seen that action that renewed momentum was back in action and stock closed well above its recent high of closer to Rs 222-223.

My fourth and final call is a long call on Jindal South West Holdings. This is a holding company of Jindals and what we have seen in today’s market, the volume was very strong about 8-10 times the regular volumes and stock breached all its major averages 50 day, 20 day, 200 day moving averages almost overlap each other. The kind of momentum we have seen in this stock, the kind of pattern behaviour we have seen in this stock, I think these patterns would be followed and with that into consideration we have gone long on the stock with the stop loss at Rs 609 and target price of Rs 643.

First Published on Aug 2, 2012 11:40 am
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