Buy Eicher Motors, Reliance Infra: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "Jai Corp has a Fibonacci resistance at Rs 95. If it were to trade above that on a sustainable basis then previously held positions may still be continued otherwise you would actually tend to book out at current juncture." "For Siti Cable Network, I would say that Rs 40-42 is the range to watch out for. If it were to trade above that then you can get a large move, at least say Rs 46-47 on the upside," he said. "Reliance Infrastructure, if you are an investor, buy on dips, that would be the best strategy to follow for the stock." "Eicher Motors still looks good to me. It is actually headed to Rs 18,000 plus levels. Even in today’s trading it is doing well. So, Eicher Motors is a good buy.""Reliance Industries continues to look good to me but for the market I would have definitely expected that Reliance to cross that Rs 1,034-1,037. However, for today, I would put a stop loss below Rs 993. It is a very close stop because today being such a critical day and yesterday’s overhang, that is why I kept a very close stop loss and targets are Rs 1,005 to about Rs 1,013." Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com.

However, the stock that attracted my attention is Sakthi Sugars. See the kind of volume it is generating. The level of Rs 39.50 is the target that I have kept but it can even go up to Rs 40.50 to about Rs 41." "ICICI Bank if it were to sustain below Rs 255 it becomes a clear sell and it is actually likely to come down to Rs 254 and if the market really gets bearish momentum for today, ICICI might even violate the Rs 250 levels. However, for now, Rs 252 to about Rs 250.35 could be the target on the downside and you put a stop loss above Rs 258. 25, precisely Rs 257-258 would now act as strong supply zone that is why I kept the stop loss just above that."