JK Lakshmi Cement top pick, says Jai Bala

Jai Bala of 1857 Advisors told CNBC-TV18, "There are number of midcap stocks that are looking positive. The midcaps segment seems to be getting a lot of action and that is looking very attractive at this point of time. If you look at something like India Cement and JK Lakshmi Cement, both are looking quite positive."

"JK Lakshmi is a top pick for me. It is head somewhere from Rs 475 to Rs 520 and it has put in a very good bottom around Rs 305. It is going to hold. If the stock were to trade conically about Rs 350 the bottom is in and is heading somewhere to Rs 475-520," he added.