Midcap bets that can fetch you handsome returns

In an interview to CNBC-TV18, SP Tulsian of sptulsian.com, Sudarshan Sukhani of s2analytics.com and Edelweiss give top pick for the day.

SP Tulsian of sptulsian.com Hexaware Technologies looks a good buy because the company will be declaring its fourth quarter numbers on Monday and considering the trend, which we have been seeing in the stock in the last couple of days indicates that the short covering coupled with fresh buying has been happening in the stock. This probably indicates that company may be posting quite good numbers for Q4 with top line expected to be close to about Rs 500 crore on a consolidated basis with profit after tax of at least Rs 80 crore plus. If those kinds of numbers are posted that will cheer the market and share may again see the value buying coupled with short covering which can make the stock to move to about Rs 90-92 in next one week or so. Sudarshan Sukhani of s2analytics.com
The infrastructure stocks have given up all the gains that they had notched up in the last two months and IVRCL has made a bearish descending triangle, which is essentially a distribution pattern at the top of its rally. Now it is falling out of that triangle on the downside. There is a significant downside move that could begin as it cracks the support levels, so IVRCL is a short sell for today. If the trade works out it is worth carrying for next few days.
We are looking at buying Jagran Prakashan. It is a small cap stock that has corrected. It seems that it has completed its correction. It made a small base and it has broken out on the upside from that base. It is worth buying into but there is a warning here. We have to look the market context before we take such trades. If the Nifty starts moving down we must be very careful before we go for buying Jagran. However if the Nifty is steady this is a trade that is worth considering on the buy side.
Edelweiss
I recommend going long on Bata India. Stock is currently trading near its important support zone and is expected to bounce back from current level. Short-term traders can initiate long on February Futures in the range of Rs 778 to Rs 782 with a target price of Rs 820 maintaining stop loss at Rs 750. Reliance Capital has broken down its important support area with good volumes. Derivatives data indicates short build up in the stock. Traders can initiate short on February Futures in a range of Rs 445 to Rs 450 with target of Rs 420 maintaining stop loss at Rs 470.