Buy UPL, Maruti Suzuki; SBI may test Rs 195.50: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "UPL definitely looks good to me for the simple reason that in today’s trading session what I have seen is that when the stock started rising it was actually attracting good volumes. From that perspective, my guess is that UPL can easily move up further and scale up to levels close to about Rs 625. I have kept a target at Rs 622. So, UPL is a buy. If you look at the volume activity right from 10.40 till about 11 huge, the volumes are happening. So, the stock is showing strong momentum there." "Banks are managing to move up, even Punjab National Bank has moved up today. State Bank of India (SBI) is showing so much of weakness but it is not managing to scale up above Rs 200 levels and staying there. So, I expect State Bank to come down on any profit taking to about Rs 195-196 levels although it has held out say Rs 197-197.50 kind of levels yesterday but today if it were to fall then it would actually fall below that. Hence that is the target of Rs 195.50 and you should put a stop loss above Rs 202," he said. "I am actually betting on the momentum and Maruti Suzuki in my projection. In this current upmove, the stock should move up to something like Rs 4,300 to about Rs 4,324. That is why I kept a target of Rs 4,280 and I am actually putting a stop loss below Rs 4,180. I am not expecting it to bridge today’s low hence I have kept the stop loss at Rs 4,180 and if the markets were to perform, Maruti would have to perform, that is why this buy call."