Buy IFCI, Cipla, Unitech: Jitendra Panda

Jitendra Panda, Future Capital is of the view that one can buy IFCI, Cipla and Unitech

Panda told CNBC-TV18, “I would see the Nifty expiry more closer to 5820 and maybe at 5800 only because the way it is not breaking the 5800 now, if in last half an hour there is a breakout then certainly it will go to 5820 level before it expires very close to this level or 5820. That is where I am seeing the range because the market has from the lower range continuously seeing buying and we have been seeing a slow upmove which is showing some strength. So, that is the range where I see.”
“On the stock specific some high beta stocks like Industrial IFCI, Housing Development and Infrastructure (HDIL) where I see there could be further spurt on the upside on the last half an hour there is Unitech, there is HDIL and these are the stocks to watch for maybe another stock called Cipla which is looking very good which is my recommendation where I am recommending this.”
“I am recommending Cipla, even trader can buy the stock with a target of Rs 420 levels. So, for December series and for expiry today also there could be a up spike. Among the major rollover happening you can see Unitech is one stock which is showing lot of strength. Tuesday also we saw strength there, today also we see lot of strength there so there could be further rollover happening or the position getting intraday squared off or there could be a movement further pickup in the movement. Unitech is another stock where you can look for a long position and look for a target of Rs 34-35 in December series because even the Call options are showing lot of action there on Unitech."
"IFCI is looking good on the financial side and if you see the aggressiveness which Call open interest is adding on the Rs 30 level shows that Rs 34 is the target where we can see IFCI on Rs 34-35 levels. So, IFCI is another one which is showing lot of strength. So there are pockets of strength."
"Among the weakness you can see infra stock like GMR Infra. Bharath Heavy Electricals Limited (BHEL) is also showing negative trend. So, it is a mix bag but then I believe financials and real estate is doing well and certainly the Nifty should look at 5820 for expiry."