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Last Updated : Mar 03, 2017 03:19 PM IST | Source: CNBC-TV18

Buy Hindalco, Balrampur Chini; sell Ambuja Cements: Wagle

Sandeep Wagle of powermywealth.com suggests buying Hindalco Industries and Balrampur Chini and sell Ambuja Cements.

Sandeep Wagle of powermywealth.com told CNBC-TV18, "I would avoid smallcaps or midcaps. I would go with a buy in Hindalco Industries with stop loss at Rs 191, target Rs 207. A sell in Ambuja Cements with a stop loss at Rs 231, target of Rs 214."

"There is some strength in some of the sugar stocks. My best pick in this space would be a Balrampur Chini at the current level and on declines towards Rs 150. With a stop loss of Rs 145, I would talk of a move towards Rs 165 to Rs 168," he said.

"I look at Bharat Financial Inclusion's chart a little on the bearish side. I see some selling at higher levels at a level of around Rs 850-860 which the stock has seen some 7-10 days back and there has been a correction. I see that correction extending and the stock breaking Rs 800 levels is not very positive till it remains below that. I would talk of a move towards Rs 730-740. So immediately, I would talk of at least 5-6 percent trading downside move."

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First Published on Mar 3, 2017 03:18 pm
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