Rahul Mohindar of viratechindia.com is confident of Kotak Mahindra Bank with a target of Rs 740 and advises buying along with Axis Bank. Even IndusInd Bank features on his buy list.
ABB is struggling to get past Rs 1444. For short term trades, Rs 1470, but for long term investors this is a stock worth having in one's portfolio, he says. His other pick is Apollo Hospital which is slated to outperform and reach Rs 1600 per share levels.
On the other hand, he has a sell on Reliance Industries and ICICI Bank and believes oil marketing companies are going to look benign now.
Meanwhile, talking about Nifty he said, "The way traders are looking at this market continues to be range bound with a slightly long-term bullish bias and that is what is being exhibited in the price action. Even 10 days ago when I was on the show, I mentioned 8,550-8,600 which is where we are getting stuck. So I still think we will muddle around within the range but to be very specific to that, short-term traders need -- they are all keeping the eyes whether 8,250-8,300 can hold. If this market starts getting below 8,250, there is no reason to believe that this market won't test sub8,000 or that lower end of the range of about 7,950 to 8,000. So that is what is probably more likely in my opinion but again it all remains to be seen as 8,250 being what I call the trend decider for the short-term trader".
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