Prakash Diwan of Altamount Capital Management recommends buying Balrampur Chini Mills with a target of Rs 47.90 and Suprajit Engineering with a target of Rs 53.50.
In CNBC-TV18's popular show Bull's Eye, Prakash Diwan of Altamount Capital Management shares his trading strategies for the day.
One may buy Mahanagar Telephone Nigam (MTNL). The stock has encountered a lot of issues related to the government’s decision. Hopefully the government seems to be getting into some sort of action mode and resolve lot of those pending issues. Once that happens particularly related to the HR issues that surrounds MTNL, I am sure the unlocking of value will see this stock start getting center stage in terms of trading momentum.
One may buy HMT. The huge real estate assets that this company sits on, lot of value unlocking that is potentially possible. We have seen some sort of volume action on this which possibly precedes a little bit of price action on the upward side. We will go long for the day with a target of Rs 30.30 and a stoploss of Rs 28.30.
One may buy Balrampur Chini Mills. The sugar pack seems to be revving up in anticipation of some sort of a package from the government. This has been on the cards for a while but finally once it happens it could see a come back of sorts on some of the oversold zones that most of the sugar stocks are in, including Balrampur Chini and this would help us look at Rs 47.90 as a target.
One may buy Suprajit Engineering. I am positive on this stock, and have a target of Rs 53.50 and a stoploss of Rs 50.50.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.