Prefer UPL, see 5-7% upside: Anu Jain

Anu Jain, Director-Equities at IIFL Private Wealth Management told CNBC-TV18, "There will be consolidations, fundamentally Reliance Industries is looking fully priced. So as a desk for equity, we tried to manage both the technicals and the fundamentals. So it is the under-ownership, which is driving it and that can continue to drive it. I don’t think it is going to break Rs 1,240-1,260 zone now in a rush. So you have that cushion of 4-5 percent down where market will come back to pick up the stock.""Crossing Rs 1,350-1,360 will be tough. So as of now it has made its first large move, which has come almost for a 25-30 percent move. Sideways consolidation is more in line. So, in next four-six weeks, it will move in this zone. I do not see it as of now the chart breakout indicating in the short-term a big move. If only it conquers Rs 1,360-1,370 and consolidates that will make a move to about Rs 1,440. But I think that will be a move over four and a half months if it can hold Rs 1,350-1,360 levels," she said."If you look at the agricultural stocks, they started breaking out about six months back and you had a move first in agricultural stocks which was seeds and fertilisers. We saw them make a stellar move once, we saw stellar move twice about a month back they have all consolidated. Fundamental reasons also happen to be happening at the same time with the government policy, with the cotton prices going up and they are blending with the technicals of the market. We saw Kaveri Seed yesterday gave us a break, it is on a 52-week high, it has not been in this Rs 520 level so over a very long time since it has corrected from those zones.""Now, it is looking as a swing target for about Rs 570-575 for investment purposes, a two-three years hold also seems to be fair enough. So, I think any correction of about three-four percent, if it goes down to sub Rs500 levels to about Rs 490-485, one can look at entering into it with a target price of essentially Rs 570 to Rs 575," she added."You can look at UPL also. It can give you another 5-7 percent. You have seen Coromandel International correct and consolidate for some time whereas you have seen Escorts make the move last week. So the whole pack will move but right now the first momentum has come into Kaveri Seed and probably the next momentum will probably follow through in UPL.""We have gone and upgraded YES Bank. It has not yet broken out but the way it is consolidating at these Rs 1,420 to Rs 1,450 levels, I think you can see next move like you saw in IndusInd Bank coming very sharp and straight though. YES Bank was part of that move, you can see one more stellar move in it. Of course there will be a very good move in the public sector undertaking (PSU) banks also. Technically, if I were to take a call even for six months to a year, it would be YES Bank. So, I will buy in the current zone and would buy 2-3 percent lower if there is a correction coming." Disclosure: Reliance Industries owns Network 18 that publishes Moneycontrol.com.