Watch the interview of Kunal Bothra of LKP Securities who shared his readings and outlook on specific stocks and sector & Nikhil Kothari of Etica Wealth Management answered few personal finance queries.
Below is the verbatim transcript of Kunal Bothra's interview with CNBC-TV18:
Tata Steel
Tata Steel is looking very robust in terms of the short-term technical picture. I believe it could probably outperform the other metal counters like Hindalco Industries as well.
Lupin
Looking at Lupin retrospectively, when the markets have rallied significantly and this is one of the few stocks in the pharma space which have given some phenomenal returns over the last one and a half two years. When the stock actually sees a sharp correction, what you saw in Lupin for the last three weeks, correction of almost 15-20 percent indicates that the stock may actually go into a period of consolidation. So, what may actually happen is that Lupin may remain in at levels of Rs 1,740-1,700 for at least couple of weeks before it tries to form a bottom and then inches up higher. The investors can keep a stoploss of Rs 1,600 on a weekly basis. If the stock does not close below that, you stand a fair chance to gain some bit of profit over there. I would expect a target of at least Rs 1,950-2,000 over the next six to eight months on Lupin.
ITC
The investors can hold ITC. The key is the break of Rs 340-360. Technically we feel that it could face some stiff resistance from a multi month perspective as well. So, the investors have to keep a trailing stoploss of Rs 325. If the stock does not break that then you still stand a fair chance to test Rs 380-400 levels.
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