Buy Reliance Industries, Maruti, Torrent Power: Simi Bhaumik

Simi Bhaumik of simibhaumik.com told CNBC-TV18, "I am bullish on Reliance Industries which is doing well. It might even test low of Rs 1,053 today but I feel it should stage a recovery. The level of Rs 1,055 to Rs 1,045 is a strong support area. My stop loss is below Rs 1,040 and one can buy and accumulate this stock at every dip till it holds above Rs 1,040. My target on the upside would be Rs 1,070, Rs 1,082 and Rs 1,095. In fact I am expecting a new high being made even today. It may take some time, maybe three to four days, but we should buy Reliance on every dips. I have a disclaimer to mention that this stock is there in my portfolio and my clients also might be holding it." "My second stock would be Maruti Suzuki. This stock has tested its 200-day moving average which was stated around Rs 4,180 two to three days back. After that, it staged recovery but given this scenario this stock too is actually facing some resistance at these levels. However I see a major support between Rs 4,200 to Rs 4,180 range. So, I am generating a buy call for Maruti with a stop below Rs 4,180 and maintain stop losses on closing basis only. For Reliance also, Rs 1,040 should be maintained on closing basis. For Maruti Rs 4,180 should be maintained on closing basis because Rs 4,182 is a 200-day moving average support level and I am expecting a recovery in this stock. My targets for short-term would be Rs 4,275, Rs 4,290 and Rs 4,320 and targets maybe met today itself or it may take some time but Maruti is also a buy," he said."One midcap stock is also on my radar. Torrent Power is a stock that is looking quite bullish on technical parameters. Any dip till such time it holds above Rs 210-215 is going to be a buying opportunity. The level of Rs 210 would be the stop loss and targets would be Rs 240, Rs 252 and Rs 265. All the stop losses should be maintained on a closing basis and my disclaimer is Reliance and Maruti are there in my portfolio. I also have vested interest for Torrent Power as well because I have recommended this stocks to my clients very recently, so they might be holding." Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com.