Watch the interview of Vishal Malkan, malkansview.com who shared his readings and outlook on specific stocks and sector & Hemant Rustagi, Wiseinvest Advisors answered few personal finance queries.
Below is the verbatim transcript of Vishal Malkan's interview with CNBC-TV18:
Tata Sponge
There is nothing great on Tata Sponge in the last six months to eight months and there is no returns on that and it is consolidating in a range bound market, so I would definitely suggest to get out of this stock and get into something which is higher momentum at this moment and where we can expect good returns in the next three to four months. I would go for Century Textile which has given a multi-year breakout on the charts in the last couple of weeks were above Rs 650 which was a resistance for five years and typically after such a breakout we can see good momentum at least for 25-30 percent from this price, so I would definitely go for Century Textiles at current levels.
HDIL
Housing Development and Infrastructure (HDIL) is a good pick in that sector because that is the most promising stock in that sector otherwise all the other stocks are not doing that great. I see some more potential in the stock if one can hold on for some more time with a stoploss of around Rs 115. One can expect the price back to Rs 140-150 in the next three to four trading weeks and maybe if one is ready to hold on for three to four months we can see price of around Rs 160 plus.
Titagarh Wagons
Titagarh Wagons had a very good rally in the last couple of years but in the last couple of months there is some kind of correction in the stock and there is an intermediate bottom which has been formed around Rs 530 levels. If that bottom breaks then we can see some more downside on it. I would definitely recommend to hold on the stock but the stoploss of Rs 530 is must because then there will open up the gates on the lower sides to Rs 400 or less than 400. So Rs 530 stoploss and hold on with that stoploss.
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