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Last Updated : Jun 02, 2016 04:06 PM IST | Source: CNBC-TV18

Buy Indian Hotels, Kotak Bank; sell HCL Tech: Sahil Kapoor

Sahil Kapoor of Edelweiss Broking recommends buying Indian Hotels and Kotak Mahindra Bank and advises selling HCL Tech on rise.

Sahil Kapoor of Edelweiss Broking told CNBC-TV18, "First is a buy on Indian Hotels. It is inching up towards the highs that it has made earlier and the trend has clearly turned positive. The longer-term trend will also turn positive once it starts trading above Rs 125. Overall, I am expecting the stock to move towards Rs 135 to Rs 137 in the next few days. So Indian Hotels is a buy, stop loss will be at Rs 117."

"In the last week of trading, Kotak Mahindra Bank made a bullish engulfing and it also broke its new 52-week high into lifetime high. Currently, it is undergoing a consolidation for the last three sessions. There is a good case that the stock will move towards Rs 800 from current level, so you can buy it here with a target of about Rs 780 and stop loss of Rs 719," he said.

"HCL Technologies is in a downtrend but the short-term and the medium-term trend is down. I am expecting it to overall move towards levels of Rs 670-680 over a period of time. That is a sell on rise counter."

"For Wipro, the trend is not as such either bullish or bearish. It is in a well-defined range for the last one year from Rs 510-610. Right now, in the short-term it is going to touch the lower end of Rs 510."

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First Published on Jun 2, 2016 04:06 pm
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