Watch the interview of Manas Jaiswal, manasjaiswal.com who shared his readings and outlook on specific stocks and sector & Pankaj Mathpal, Optima Money Manager answered few personal finance queries.
Below is the verbatim transcript of Manas Jaiswal’s interview with CNBC-TV18:
JSW Energy
JSW Energy is still looking very strong on the charts. It is making higher-tops and higher-bottoms, it has some resistance near to Rs 98. However, soon it will break Rs 98 also and it can go up to around Rs 107-110. So, one can hold the stock and keep a stoploss below Rs 88.
City Union Bank is facing lot of resistances near to Rs 94-96 and it can correct, it can come down to around Rs 84-85 then one can buy that stock because the overall trend is positive. On weekly and monthly chart the stock is making higher-tops and higher-bottoms, so one can buy the stock near to Rs 84-85 with a stoploss of Rs 78.
Fortis Healthcare
On the long-term chart Fortis Healthcare is not looking strong. It has very strong resistances near to Rs 130-140. It is making lower-tops and lower-bottom from the level of Rs 124. It fell below 400 day moving average few weeks back. The stock can go down to around Rs 80-85. One should exit on any bounce back near to Rs 110-108. Over all trend is negative, so one can exit from the long position on any bounce back.
Lanco Industries
Lanco Industries rallied smartly from the level of Rs 20 to Rs 80. Thereafter it witnessed some correction. However, I think it is a temporary phase and the overall trend is quite positive. If one can hold it for say around 8-10 months time I see the target price of around Rs 90-92. One can hold it and keep a stoploss below Rs 60.
MOIL
From the level of Rs 325 MOIL is making lower-tops and lower-bottoms. Few days back stock fell below 50 day moving average. I think the short-term trend is bearish, it can go down to around Rs 285. However, the long-term trend is still positive. This correction is a great opportunity to go long in MOIL for a timeframe of around 8-10 months time. I see the price of around Rs 350-360 in next 8-10 months of time.
Gail India
Gail India has broken its 200 day moving average today and this trend will go down to around Rs 360 to 370. So, if one gets a price of around Rs 430-435 then exit from the long positions."
Reliance Communications
For short-term Reliance Communications is looking weak. From the level of Rs 115 the stock is making lower-tops and lower-bottom and yesterday it broke the important support of Rs 92, so the stock can go down to around Rs 80. The long-term investors can hold it because the long trend is still positive and one will get the opportunity to exit from the stock near to Rs 120-130 in next six to eight months time.
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