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Buy Bombay Dyeing; Avenue Supermarts may test Rs 1,365: Rajat Bose

Rajat Bose of rajatkbose.com is of the view that one may buy Bombay Dyeing.

March 20, 2018 / 11:31 AM IST

Rajat Bose of rajatkbose.com told CNBC-TV18, "In Cipla I suppose whatever had to happen has already happened. There is no fresh sell call on Cipla. All the targets have been met there."

He further added, "I would buy Bombay Dyeing, it is one counter, last year August after testing its 200-day exponential moving average it has short-up considerably over the next four months or so and after that there had been volatility but adequately supported by the 200-day moving average once again and now it has crossed 200-day, 89-day, 50-day moving averages even above it is 13-day moving average now, so probably we will see a good upswing here at least in the short term; Rs 275 to about Rs 279 is my target. It is a two day target. In fact I am expecting it to test Rs 295 to about Rs 320 going forward irrespective of the market conditions."

"The other stock that I would like to mention out here is Avenue Supermarts. The kind of recovery that it has shown in today’s session suggest that there is good amount of covering and probably that short covering will take it up once again to Rs 1,350 to about Rs 1,365 kind of a levels. I would put a stop loss at Rs 1,298."

"For Tech Mahindra put a stop loss below Rs 615 and on the upside Rs 632 would be the target prior to that Rs 628 is an interim target," he added.
CNBC-TV18
first published: Mar 20, 2018 11:28 am
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