Here are some fundamental ideas from Prakash Diwan

However, buying at 9,200 levels possibly doesn’t appeal that much; we could probably do it sub 9,000 levels if the market gives you that opportunity and I think they will. There could be some profit booking given the Call writing that is so heavily done at 9,200-9,300 and Put Call Ratio (PCR) does indicate that we could see some sort of quick profit taking once the market opens up on this triple top.

Sonia: We are just putting out a story on Gujarat Fluorochemicals about a restructuring exercise, any of the stocks from this group that you like and could benefit from this?

A: Inox Wind has been one of those unsung heroes within this stable and I had recommended this about six months back. Hasn’t moved much beyond that level, but given the way solar has demonstrated the kind of efficiencies that have come in the acceleration of pace and stuff, that is very favourable of renewables. I think wind is the next big frontier and Inox Wind will benefit. They have far more efficiency than even Suzlon in certain components of the business.

The other one is of course Inox Leisure. After Khushi Advertising, the tie-up getting off, what has happened is, Inox Leisure has become much more independent in terms of its revenue buildup and that could probably bridge the gap between PVR and Inox Leisure in terms of that. So, from this group, I think these two companies definitely stand a great re-rating opportunity.

Anuj: How would you approach a stock like Idea Cellular now after the kind of consolidation that it had gone through and of course Reliance Industries which has been the leader of the market rally?

A: Let me take Reliance first because that was the more exciting part last night where we saw the ADRs and that kind of gave a very clear indication of what the market intends doing with this new found BJP strength. So, very clearly, Reliance having got through that phase of monetisation in terms of setting those timelines is definitely suddenly become very attractive. However, I would at this level start getting a bit cautious. I would want to see the monetisation actually happen, the retention of clients, of subscribers from the Reliance Jio business and of course the energy business also needs to kind of be firing on all cylinders whether it is petchem, whether refining. So, Reliance has had a great run, give it a pause, buy it at lower levels, and add it to your portfolio certainly because it will be the bellwether to participate in this rally.

Coming back to Idea Cellular, Idea has possibly also seen enough of that bullishness thanks to that Vodafone deal and stuff. However, if you see the Vodafone stock, it is actually at one of its lowest levels globally. So, Vodafone doesn’t seem to be very enthused with this whole merger which means that it is still not something that is going to be a very great paradigm shift for both these players at this stage. The contours of that merger, of the deal are still to be completely out; I would wait for buying into Idea as well.

If I had to buy something from that space, it would only be Bharti Airtel because of the way it is kind of getting more and more insulated from all this competitive forces that are getting realigned.

For full interview, watch accompanying video.

Disclosure: Network 18, which publishes moneycontrol.com, is a part of the Reliance Group.