Watch the interview of Kunal Saraogi, CEO of Equityrush who shared his readings and outlook on specific stocks and sector & Hemant Rustagi, CEO of Wiseinvest Advisors answered few personal finance queries.
Below is the verbatim transcript of Kunal Saraogi's interview with CNBC-TV18:
If you are a longer term investor, I think State Bank of India (SBI) definitely merits a buy and a hold and if you can hold it for let's say a year or more, I think the stock could get to Rs 335 and possibly to Rs 340 levels, but one must be very vigilant about stoploss in this case and I am not very bullish on public sector unit (PSU) bank stocks in the short-term. I think the stock can slip to Rs 280 levels, where you should put a stoploss and hold on to the stock for at least a year and I think Rs 330 might actually happen for State Bank of India.
The investor would do well to exit Pipavav Defence and Offshore Engineering Company. It might actually continue to remain under pressure and possibly get to about Rs 50-55 levels before you see meaningful upside.
The investor should book out from Bharti Airtel. I think there is a bit of resistance at Rs 385 and I do not really see the stock going beyond that in a hurry. It has run up quite a bit in the last couple of trading sessions. So, I think it is a good time. Try and exit out of this one, invest elsewhere.
In CESC I see very stiff resistance close to Rs 640, the chart structure also looks a bit bearish. So my sense is that the stock might gravitate to Rs 500 levels before it goes up. So my sense is the investors would do well to exit and probably look to buy into something like Tata Power, which has got a much better chart structure.
Cipla is an outperforming stock and it is outperforming its peer set as well, so there is no doubt that the investors should hold on to the stock. The stock should give 10-15 percent absolute return in a year's period and I think it can very easily get to Rs 1,000 levels. So, my advice would be to hold on to the stock and put a stoploss at Rs 700 and hope for the best.
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