Pankaj Jain, Director at Sunteck Wealthmax Capital told CNBC-TV18, "The action is in midcap and smallcap stock. Dolphin Offshore has been an outperforming stock for last couple of days. Even today the stock is up by about 16-17 percent. However, still a lot of steam is left in this stock. It is almost trading at its three, four years high and basically one of the FIIs which was holding a large chunk in this company, they have existed recently. There seems to be lot of pent of demand from local domestic funds and the kind of specialised service this company is providing, all these underwater services to oil rigs, offshore rigs, it seems that the stock could move up to levels closer to Rs 170-175 in next few weeks. Taking that as background, taking volume breakout that has been seen in the stock, this could be a decent buy even at current levels for the next few days."
"Pennar Industries is trading at it's almost lifetime highs and this last bit of resistance area of closer to say Rs 56-56.50 could be breached may be today or in a day or two. Thereafter the stock is capable of moving to levels closer to Rs 75- 80. Very serious volume breakout has been seen in last three-four days because volume used to be the issue till sometime back. They are into specialised steel kind of products and this is one of the good small cap midcap ideas for the funds; not to forget most of the domestic funds are flushed with funds and they may be searching for good ideas," he said.
"Cipla maybe it is facing the bit of heat because of what is happening with Sun Pharmaceutical Industries. However, not to forget that this stock is trading at lifetime highs and major issues with Cipla have always been the succession issue and they are not spending much on the R&D kind of side. Those two issues seem to have been resolved in last few quarters. Though the result of last quarter was not all that exciting but I think there are excellent prospects for Cipla. Even at this current juncture, this kind of small time negative tick is seen in Cipla."
"Taking that as background I think these three stocks could be bought today and hold the positions till tomorrow or may be beyond that."
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