Watch the interview of Meghana V Malkan of malkansview.com who shared his readings and outlook on specific stocks and sector & Hemant Rustagi of Wiseinvest Advisors answered few personal finance queries.
Below is the verbatim transcript of Meghana V Malkan's interview with CNBC-TV18:
Symphony
Overall if you see the higher timeframe charts, Symphony is good. Momentum is in good timeframe, good zone and I believe this would be a good time to buy at current levels with a stoploss of Rs 1950 and you could expect a target of around Rs 2800 levels in six to eight months time.
Petronet LNG
One could hold Petronet LNG with a stoploss of Rs 155 levels because the stock doesn’t look that bad; it looks pretty good on the higher timeframe charts. We expect a target of Rs 210 in about six to eight months timeframe.
Tata Elxsi & Infosys
Tata Elxsi looks good at current level. The investors could enter long on the stock at current level; place a stoploss at Rs 1,020 levels for a target of Rs 1,350. The timeframe would be around six to eight months. If the investors want to invest in Infosys then current level would be good enough but stoploss could be placed at Rs 1,850 levels and expect target around Rs 2,150 levels.
Bank of Baroda
I see a very good support at Rs 140 levels in Bank of Baroda (BoB). Overall there are multiple supports running into this level. So, one could hold on this stock with a stoploss of Rs 140.
Bank of India
YES Bank is currently trading at quite high level. If you look from a two year horizon, I would recommend to buy a PSU bank like a Bank of India (BoI) rather than a YES Bank because the risk reward ratio if you see tactically it is better in Bank of India. So, I would recommend that one would go with Bank of India rather than YES Bank.
Geometric
Geometric on a higher time frame looks weak compared to the other stocks that we have available at current rates right now. So I believe one could wait for a rally to Rs 150-155 levels. At this rate one could comfortably get out of this stock and move into some other stock like Ashok Leyland or something which is stronger when you compare the higher timeframe charts, so you could wait for Rs 150 levels and then exit and then switch over to Ashok Leyland.
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