Sudarshan Sukhani of s2analytics.com advice traders to avoid Talwalkars Better and one can sell stocks like IOB, Bank of Baroda or PNB at current levels.
Sukhani told CNBC-TV18, “I would avoid Talwalkars. I am not a big fan of going for small cap stocks which suddenly come in the news. We have seen how these also vanish from the news and investors literally get stuck holding the stock with no buyers, or substantially lower prices. So I would not discuss it except to say that it is best avoided, forget the 10 percent.”
He further added, “Prestige is a much better chart. This stock has been in a consistent uptrend, gone in a trading range and promises much higher levels to come. In terms of quality the two are not comparable, Prestige is probably much better. So this is a midcap stock that traders should watch. Investors should be willing to invest in it if they like midcaps. I would give a vote in confidence.”
“We ourselves are confused on the behavior of the market next week, but assuming that the markets remain choppy and dull as they are now today or yesterday, PSU banks should be sold into. Most PSU banks are sell, but not all of them. For example, Canara Bank is not, State Bank is not, Andhra and UCO Bank are not, but a lot of them - IOB, Bank of Baroda, PNB, and these are to be short sold.”Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.