Buy Dish TV, Petronet LNG: Panda

Jitendra Panda, Future Capital is of the view that one can go long with Dish TV with a target of Rs 79. One can also buy Petronet LNG with a target of Rs 175.

Panda told CNBC-TV18, “Based on open interest analysis and the long positions which are getting build today and with expectations whether it is on the domestic or on the international front - we see Dish TV where a lot of long positions have been built. We have seen consistent from Rs 67 levels it has moved to Rs 74, we believe Rs 79 is the target. We can keep Rs 71 as the stop loss. Today also good amount of open interest and we know that tomorrow also there is a cabinet meeting which is expected on the cable network and FDI. With the kind of open interest building up we believe that positive news, more positive news is expected there. So Rs 79 is the target I am keeping on Dish TV. That is a good stock where you can go long at this level.” He further added, “The other stock is where we see a lot of long positions building up after lot of corrections after last 15 days of Petronet LNG and that stock at current level of Rs 170 could be a good buy. We can keep Rs 166 as a stop loss and look at Rs 175 as a trading buy for the next few days. Petronet LNG, the QE3 would have an impact on crude oil and the sector per se. So Petronet LNG looks safe at this juncture with the kind of open interest building up there.” “Century Textile is also showing some strength and with the news coming in and that could show some action. Rs 345 is the stop loss where I expect the viewers to keep and Rs 365 is the target we could see based on where the next resistance is. Rs 365 target for Century Textile that is the stock where we can look at, at this juncture.”