Bosch top pick, says Jai Bala

Jai Bala of 1857 Advisors told CNBC-TV18, "I wouldn’t exactly bet on going negative on the market at this point of time. It is pretty late to get bearish on the market. I would rather look at the markets in the other way and say which are the stocks that are likely to bottom around the 7590 mark and resume the longer term uptrend. I am looking at something like Idea Cellular, I think Rs 130-140 levels that it went through last week is pretty important.""We had identified Bosch in May and June as a top pick and that continues to be a top pick. I think the stock has gone through a good correction after going from Rs 19600 to Rs 26700, the drop is ideal and it is a very good entry point. I would look at that as another stock that you can keep focus on," he added."There are other stocks within the CNX MNC space, Bosch is the top pick though. If you look at early July we identified tyre stocks as a very good sector. Most of the stocks are still up 40-50 percent even now from the levels that we had indentified. However, my take here is that they still have further upsides to go but one must use that upside to liquidate investment positions - not just trading positions. I think this is going to be the final leg up for the tyre stocks, once that leg is done, I think they are going to see a very large correction come through for the entire sector," he said.