SAIL has target of Rs 100: Future Capital

Jitendra Panda of Future Capital is of the view that SAIL has target of Rs 100. Jaiprakash Associates can touch Rs 107.

Panda told CNBC-TV18, “If you analyse the components of Nifty Steel Authority of India (SAIL) has a good weightage and we believe that yesterday with 10 percent plus open interest, today also it is showing another 2-3 percent open interest on the long side. We believe SAIL could be one where we could see a target of Rs 100 and keep a stop loss of Rs 95. So that is one where we could bet.”
 
He further added, “Another stock not part of the market but high beta stock which I am betting is Jaiprakash Associates. It has done its job and it has crossed the Rs 100 level once more but we believe that now it will try to reach Rs 105-107 levels again and see upper side. So we have seen open interest there also on high beta stock moving up. So that could be one stock to watch in the high beta when the market is going to move up. So there we are seeing some traction developing.”