Buy Jyothy Labs, Sundaram Fin, Suven Life: Pankaj Jain
In CNBC-TV18's popular show Bull's Eye, Pankaj Jain, Sunteck Wealthmax shares trading strategy of the day.
August 27, 2012 / 18:31 IST
In CNBC-TV18's popular show Bull's Eye, Pankaj Jain, Sunteck Wealthmax shares trading strategy of the day.
My first long call is long call on Jyothy Laboratories. This stock has been doing wonders for last couple of days and we saw very smart rise in this stock. In Friday’s trading session the volumes were very strong and what we have seen in last 3-4 months this stock has moved from levels closer to Rs 80-90 to level closer to Rs 160. All along the stock has been floating above relevant 20 DMA so that gives a very strong indication that the run up in the stock is not over. Long on Sundaram Finance. What we have seen in this stock is that, this stock has consolidated beautifully say between Rs 650 and Rs 750 for the last month and a half. What we have seen is that volumes have been building up and on Friday’s trading session we saw very strong volumes in this stock. We believe this stock has the potential to be a multi bagger stock in the next year or so. Long on Suven Lifesciences. What we have seen this that this stock has gone through a serious consolidation between Rs 15-Rs 16 and after that we have seen this stock having taken off. Recently quarter one results of this company were exceedingly good, stock take off after that. The volumes in this stock have been very strong and even in Friday’s trading session we saw this stock growing very rapidly, volumes were very strong and we believe this momentum would continue. MTNL is my fourth long call with stop loss is at Rs 38.90, target price of Rs 42.50. Rs 35-36 was a very serious resistance for the stock. Having gone beyond that it was but obvious that the stock would take a rocket approach and we believe that next serious resistance for this stock is at levels closer to between Rs 45 and Rs 47. There is lot of talk regarding monetization of land bank of MTNL. Apart from that company has asked for permission to surrender their spectrum and in lieu of that the company would be getting Rs 4,000 crore. There are many positive news in the pipeline and some thing is in offing. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
