Buy MTNL, HMT, Balrampur Chini, Suprajit Eng: Prakash Diwan

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.