Exit Delta Corp, buy Reliance Ind, NMDC: Thununguntla

Jagannadham Thununguntla, strategist & head of research at SMC Global Securities told CNBC-TV18, “It makes absolute sense to exit Delta Corp. There is no fundamental reason why one should stay invested. Having said that from just tactical exit point of view maybe you can think about a technical bounce around Rs 72, maybe just as an exit point you can exit.”

He further added, "At this point Reliance Industries is appearing to be a decent bet around Rs 798 level. At least for the range bound trade one can keep making Rs 30-40 in swing trading. Otherwise one can also think about National Mineral Development Corporation (NMDC) that is completely beaten down. One should have patience to buy. Do not expect anything to happen in the next 10-15 days, but stay invested. NMDC at the current level is appearing to be very, very convincing.”