HomeNewsBusinessStocksBuy Exide, Marico, LIC Housing; short Bharat Forge: Harchekar

Buy Exide, Marico, LIC Housing; short Bharat Forge: Harchekar

Amit Harchekar of A Plus Analytics is of the view that one can buy Exide Industries, Marico and LIC Housing Finance and advises shorting Bharat Forge.

May 27, 2016 / 14:55 IST
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Amit Harchekar of A Plus Analytics told CNBC-TV18, "Exide Industries is already sustaining above the crucial resistance of Rs 155-156. Right now, we are expecting this rally to extend towards Rs 169-170. So Rs 150 should be the stop loss, which turns out to be the previous breakout line.""Second stock would be buy on Marico. The stock has been trending higher and a breakout above Rs 252 clears for the next resistance level towards Rs 275-280. So we would recommend going long even at current level. The stop loss would be at Rs 246," he said."Third stock would be a buy on LIC Housing Finance. We are expecting short covering in this counter and the short covering can take this stock back towards Rs 495-500 zone. From a trading perspective we would recommend a stop loss at Rs 445.""Last stock would be going short on Bharat Forge. This stock has already given a breakdown and has been underperforming the broader markets below Rs 750, the next near-term target comes around Rs 710. So we would recommend going short on Bharat Forge Futures at these levels. Stop loss would be at Rs 770. "

first published: May 27, 2016 02:53 pm

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