By Jitendra Panda, MD & CEO at Peerless Securities
Market is certainly consolidating, at any rise it should be a sell. Tata Power is our top pick, buying at current level with a stoploss of Rs 89 and we believe it can go upto Rs 98 in the coming series. In Asian Paints, we can see Rs 730 and much higher later on. So from current levels it is a buy."
"Market can consolidate or slightly correct moving ahead, so DLF is a sell. We believe from the low level of Rs 100 in this series we have moved up 50 percent and we are seeing some fatigue, so that could be a good candidate to sell now. So keep a stoploss of Rs 154 or Rs 153 and we could see Rs 140 where there is a small support that we have seen historically. So that could be our target," he said.
"Jaiprakash Associates is in the news and there is no end to the bad news which keeps coming for the stock. Investors have kept on making positions on the long side but have failed and stoploss are getting triggered below Rs 30. So we believe this could see Rs 25, keep a stoploss at Rs 31."
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