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Last Updated : Jul 01, 2016 10:12 AM IST | Source: CNBC-TV18

Buy Axis Bank, Nitco, Munjal Auto Industries: Rajat Bose

Rajat Bose of rajatkbose.com is of the view that one can buy Axis Bank, Nitco and Munjal Auto Industries.

Rajat Bose of rajatkbose.com told CNBC-TV18, "Axis Bank has posted a good breakout and after that, the stock actually has signalled a reversal from its erstwhile downtrend and it posted that with a lot of strength. So, I buy it today, Rs 523 is my stop loss, Rs 542 and Rs 549 are the two targets, keeping in mind that Axis generally provides a lot of momentum, hence this stretched target of Rs 549."

"Nitco is likely to test Rs 70 odd level, so I have kept a target of Rs 69.50 ad the stop loss is also pretty close by - Rs 65.50. The stock closed at Rs 67," he said.

"Yesterday, Munjal Auto Industries performed pretty well. I expect the momentum to continue. Targets are Rs 89 and Rs 93. It closed at Rs 86 and I put a stop loss at Rs 81."

"The third midcap stock would be Sintex industries. It closed at Rs 81; Rs 79.20 is my stop loss, Rs 84.50 is my target because Rs 85 is actually a strong reistance, hence I kept a target of Rs 84.50."

"If Shriram Transport Finance Corporation were to maintain above Rs 200 today and does not fall below that range, then there is definitely a possibility that you might see the momentum that it showed yesterday and that would continue. The levels of Rs 1,248 and Rs 1,275 are the two targets."

He further added, "People can carry unless of course, it falls below the stop loss level of Rs 1,173. Those are the five buy calls I have for today, at least for now."

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First Published on Jul 1, 2016 10:12 am
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